It has gone Down to fill the Gapped at 53.05. Looks rather weak! If unable to stay above 53.30 then she may go further down to test 51.65 than 50.00.
Pls dyodd.
3Q net profit declines 2% YoY to 2.954b.
3Q pre-tax profit up 1% YoY to record $3.48b, ROE at 17.1% and ROTE at 18.9%
Total income up 3% YoY to new high of $5.93b
o Group NII little changed from strong deposit growth and proactive balance sheet hedging
o Fee income and treasury customer sales reach new highs
o Markets trading income higher due to lower funding cost and more conducive trading environment
9M pre-tax profit up 3% to record $10.3b
Total income up 5% to new high of $17.6b from growth in commercial book and markets trading
Balance sheet remains strong
Asset quality resilient. NPL ratio stable at 1.0%, SP at 15bp for 3Q and 13bp for 9M
Allowance coverage at 139% and 229% after considering collateral
Transitional CET1 ratio at 16.9%, fully phased-in at 15.1%
3Q total dividend of 75¢ per share, comprising 60¢ ordinary dividend and 15¢ Capital Return dividend
2026 outlook:
Total income to be around 2025 levels despite rate headwinds
Group net interest income to be slightly below 2025 levels
o Based on Sora around current levels, three Fed rate cuts and stronger SGD
o Full year impact of lower rates mitigated by deposit growth
Commercial book non-interest income growth to be high-single digits
o Mid-teens growth in wealth management
Cost-income ratio to be in low-40% range
SP assumed to normalise to 17-20bp, although not seeing signs of stress so far
o Potential for GP writebacks
Net profit to be slightly below 2025 levels.
