DBS, OCBC, UOB First Quarter 2009 Financial Results

The local banks released their first quarter financial results last week. Since the net profits were better than expected by analysts, their share prices rose significantly last week. This is despite of lower net profits when compared with the same quarter in 2008.


                                    UOB          DBS       OCBC

Net Profit                      $409m    $433 m    $545m

(Q1 2009)                    

Change y-o-y              (-23%)      (-28%)     (-12%)


Net Assets per share     $9.37      $10.10      $5.16

(31 Mar 09)                 


Share price                  $14.74    $11.90       $7.20

(at 8 May 09)


Price to Book               1.57          1.17        1.39

(at 8 May 09)


The price to book (PB) value was highest for UOB at last Friday’s closing stock price. DBS Bank’s has the lowest PB value.


Written on 5/11/2009 11:32 AM


Copyright © 2009, the author known as LKT in Singapore.


The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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