In 1Q15, the three locally listed banks, DBS Group Holdings, Oversea-Chinese Banking Corporation and United Overseas Bank averaged a 2.1% price decline, taking their average twelve month total return to 19.6%.
All three banks have confirmed or are expected to report their 1QFY2015 results in late April 2015.
Since 2010, Wealth Management income for the three banks has almost tripled - producing an income growth stream for the three banks.
Since its establishment as a trading port in the 19th century, Singapore has been a magnet for financing activities. Historically, the island was home to many small banks that provided ways for Chinese merchants to remit funds back to the mainland. By the beginning of the 21st century, this collection of banks, through successive waves of mergers and acquisitions, had been consolidated into three locally-listed banks: DBS Group Holdings (DBS), Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB).
In the context of the 2008 global financial crisis, these three banks are now considered to be among the world's most resilient institutions. The three local banks are all within the world’s 15 strongest banks (according to a ranking by Bloomberg) with OCBC at 4th place (previously 2nd) DBS at 7th place (previously 5th) and UOB at 12th place (previously 6th).
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