Individually, Koh has estimated that DBS will post net profit of $1.535 billion for the 2QFY2021, up 23% y-o-y, but down 24% q-o-q.
UOB Kay Hian analyst Jonathan Koh remains positive on the Singapore banking sector amid the “exceptionally strong results” posted by DBS Group Holdings and Oversea-Chinese Banking Corporation (OCBC) during the 1QFY2021 ended March.
Koh has maintained “overweight” on the sector as the banks are slated to release their results for the 2QFY2021 ended June on Aug 4 and Aug 5 respectively.
