Koh is also positive on the sector due to growth expected in the Asean economies driven by foreign direct investment (FDI) inflows. The banks’ asset qualities remain “pristine”, he adds.
UOB Kay Hian analyst Jonathan Koh has kept his “overweight” rating on the Singapore banking sector ahead of the banks’ results for the 4QFY2024 ended Dec 31, 2024.
In his Jan 17 report, Koh believes that the trend of elevated government bond yields is expected to continue in the near term on the back of growth in the US economy from growth in consumer spending on services, exports, business investments and government spending.
