Singapore banks are well placed to win regional market share and re-price assets as peers battle increasingly tight conditions, with the city-state seen as the best-funded banking system in the region, Barclays Capital said.
“Given our cautious view of banks around the region, we would rank the Singapore lenders amongst our preferred exposures in a regional portfolio,” Barclays said in a report.
It set an overweight rating on Oversea-Chinese Banking Corp (OCBC.SI) and ranked it as its top pick among local banks, with United Overseas Bank (UOBH.SI) coming in second with an overweight recommendation. DBS (DBSM.SI) was rated as equal weight.
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