Comparison of DBS, OCBC and UOB – FY 2015

All three local banks had released their full year financial results for 2015.

Banks Q4 Profit ($m) Change (%) Year Profit ($m) Change (%)
DBS 1,002 20.0 4,454 10.0
OCBC 960 21.0 3,903 2.0
UOB 788 0.3 3,209 -1.2

DBS was better than the two other banks.

Banks NIM (%) NPL Ratio (%) Non-interest/ Total Income (%) Remarks
DBS 1.77 0.9 34.2 Full Year
OCBC 1.67 0.9 40.5 Full Year
UOB 1.77 1.4 38.8 Full Year

Notes:
NIM = Net Interest Margin
NPL = Non-Performing Loans

DBS and UOB had the same NIM at 1.77%. OCBC was a tad lower at 1.67%.

UOB had higher NPL ratio at 1.4% while DBS and OCBC had the same NPL Ratio at 0.9%.

In terms of Non-Interest Income/Total Income, OCBC got more from non-interest income type of business than DBS and UOB.

Banks NAV ($) Share Price ($) P/B Ratio Remarks
DBS 15.82 13.68 0.86
OCBC 8.03 7.98 0.99 cum dividend
UOB 17.84 17.24 0.97 cum dividend

Price to Book (P/B) ratio for DBS (0.86) was lower before the release of its results this morning at 8.00 am.

Banks ROE (%) EPS ($) Share Price ($) PE Ratio
DBS 11.2 1.77 13.68 7.73
OCBC 12.3 0.952 7.98 8.38
UOB 11.0 1.94 17.24 8.89

OCBC had the best Return  of Equity (ROE) at 12.3%.

The Price Earning ratio (PE) for DBS was 7.73, lower than the other 2 banks based on share prices as at last Friday. This was before the release of results by DBS this morning.

Banks Dividend ($) Share Price ($) Div Yield (%) LY Dividend ($)
DBS 0.60 13.68 4.39% 0.58
OCBC 0.36 7.98 4.51% 0.36
UOB 0.90 17.24 5.22% 0.75

Notes:
Dividend Yield, Price Earnings ratio and Price to Book ratio are calculated using share prices as at 19 February 2016

UOB’s Dividend Yield was higher than the other 2 banks at 5.22%.

On the whole, DBS did well for 2015 contrary to what many analysts predicted.

Copyright © 2016, limkimtong for Living Investment

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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4 Responses to Comparison of DBS, OCBC and UOB – FY 2015

  1. Andy Koh says:

    Thank you Mr Lim for the wonderful summary. Somehow I knew you would do it and I could just visit for such a snapshot.

    Wishing you a great year and good health ahead.

  2. Ng Tai Rong says:

    hi can i ask where did you sourse UOB’s share price from? need it for a project

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