UOB    Last:34.59    +0.23

UOB

UOB TP $22.80

Fee income, in common with other banks, showed positive inflexion, expanding 17% q-q, as drivers such as fund management and credit cards rebounded. On better-than-expected 3Q09 earnings and balance sheet indicators (in particular, guidance NPL pressure has peaked and hence little need to add to already ample GP), we raise our FY09F-11F earnings estimates by 0.4%-7% and Gordon Growth-based PT (13% sustainable ROE, 9% cost of capital and 5% long-term growth) to $22.80, based on 2.0x FY10F adjusted BV (1.8x stated book), or 15x FY10F earnings. MAINTAIN BUY.

Nomura Research 17.12.09

 

Buying the top 4 China Banks are not risky if you have a "long term" view (around 3-5yrs)..

Banks thrive on deposit base.... which allows them to expand their NAV and share prices reflect that ..

 

So you think china banks will be better or singapore banks? Ours have not been successful to grow organically beyond Singapore. and it's a constraint for the share price.. While China banks (just their population base alone) will make them into banks with assets equal to the size of US Banks.. If US banks can fly to $100 or $200.. what makes you think China banks cannot?

 

In my opinion, Betting on china banks now ..is the surest way to becoming a millionaire..

 

The 3 local banks are not seriously attacked by Dubai saga.  Not surprising they are doing not too badly.  UOB shares instead have risen in price.

 

Thats the way to go.......Go higher...

 

Ha ha, bro, tks for d support on Citi.

AK is one of d dump dumps loh, didn't rub shoulder with UOB n AIG, pai seh. Instead blurr blurr buying in penny banks stock like Bank of China n Industrial n Commerce Bank of China. A bit knee jerking when SSE toppled lately.

X my legs is d word liao. Cheers.

niuyear      ( Date: 19-Aug-2009 12:18) Posted: I bet on citigroup cos its share price is the most battered and now  the cheapest of the bank shares.  If you didnt miss 2 week or 3 weeks ago when it was down till 2.78.....you would have made some cos it has risen to US$4.  Back banks are back.... If it picks up 1 or 2 years later, i am sure citigroup could be way above US$4..   goondoo      ( Date: 16-Jul-2009 20:27) Posted: UOB probably has some undisclosed skeletons in the closet, that's y it collapsed on a day when all stocks rise. Only dumb dumbs buy UOB, Citigroup & AIG. Will lose until pants drop. Think shorting UOB is a better, short all the way back to $8, and win big.

 

I bet on citigroup cos its share price is the most battered and now  the cheapest of the bank shares.  If you didnt miss 2 week or 3 weeks ago when it was down till 2.78.....you would have made some cos it has risen to US$4.  Back banks are back.... If it picks up 1 or 2 years later, i am sure citigroup could be way above US$4..

 

goondoo      ( Date: 16-Jul-2009 20:27) Posted: UOB probably has some undisclosed skeletons in the closet, that's y it collapsed on a day when all stocks rise. Only dumb dumbs buy UOB, Citigroup & AIG. Will lose until pants drop. Think shorting UOB is a better, short all the way back to $8, and win big.

 

wah! wat happ to this burger??? drop quite abite siah ! :P peers look stable leh...hmm.. :D

 

Agree.  Analysts have expected a worse performing UOB, yet it did better.  As for the road ahead, UOB is quite upbeat about prospects.  So what are investors doing?  They have done the opposite by dumping its share.

"<a href='http://www.sharejunction.com/sharejunction/rssFeed.htm?id=3'>check it out</a>"

Laulan      ( Date: 05-Aug-2009 15:28) Posted: UOB's profit decline should not be a reason to down the market as most investors already have some inkling of UOB's poorer performance.

 

UOB's profit decline should not be a reason to down the market as most investors already have some inkling of UOB's poorer performance.

 

Aug. 5 (Bloomberg) -- United Overseas Bank Ltd., Singapore’s
second-biggest lender by market value, posted a 22 percent
decline in second-quarter profit, better than analysts estimated
as trading income increased.
    Net income dropped to S$470 million ($328 million) in the
three months ended June 30, from S$601 million a year earlier,
the bank said in a statement to Singapore’s stock exchange today.
The profit was higher than the average estimate of S$426 million
in a Bloomberg News survey of seven analysts.
    United Overseas earnings exceeded analysts’ estimates for
the second straight quarter as Singapore’s economy showed signs
of a recovery from its deepest recession since independence.
Total loans by banks in the city-state rose to S$272.2 billion
in June, the highest since November, according to the Monetary
Authority of Singapore.
    “United Overseas will outperform its peers in 2010 on a
number of fronts,” Trevor Kalcic, a Singapore-based analyst at
the Royal Bank of Scotland Group Plc, wrote in a July 27 report.
The lender is “the only buy among Singapore banks,” he said.
    Singapore’s gross domestic product expanded an annualized
20.4 percent in the three months ended June 30, the trade
ministry said on July 14, and the city-state said its economy
would contract less in 2009 than previously forecast.

 

Updated: 5th August 2009, 1315 hrs

UOB posts 21.7% drop in Q2 profit to S$470mil

United Overseas Bank has posted a 21.7 percent drop in second quarter net earnings to 470 million dollars from a year ago, as the bank set aside more provisions for bad loans. The bank recorded higher operating income in the quarter, with net interest income growing 3.9 percent and non-interest income edging up 0.1 percent. But impairment charges surged 158 percent to 465 million dollars for the three months ended June as the lender set aside more provisions amid the global economic uncertainty. Bad loans were also on the rise with the non-performing loan ratio rising to 2.4 percent in the second quarter, up from 2.1 percent in the first quarter. But the bank says its asset quality remained sound and the credit deterioration wasn't as bad as what many had predicted. Looking ahead, UOB CEO Wee Ee Cheong says the bank is more upbeat about prospects as global sentiments improve. But he adds that there are still structural issues confronting the global system and the bottoming out process and economic recovery will be gradual.

 

UOB probably has some undisclosed skeletons in the closet, that's y it collapsed on a day when all stocks rise.

Only dumb dumbs buy UOB, Citigroup & AIG.

Will lose until pants drop. Think shorting UOB is a better, short all the way back to $8, and win big.

 

I think DJ will be in the red tonite.

 

If tonight DJ cheong another 230pts, I think Botak will let his bank drop another 54cents! So DJ better dun cheong tonight!

limkt009      ( Date: 16-Jul-2009 16:27) Posted: To sack botak...it is veryyyy serious.

 

who is botak?.. do i know him?

limkt009      ( Date: 16-Jul-2009 16:27) Posted: To sack botak...it is veryyyy serious.

 

Thats seriouos enouogh to burn some, caught pant down. It opened at 15.86 n raised to peak at 15.94. Now, 15.08, real big wok.

Its 1H last yr was on 4 Aug. Ds yr one, still long to go leh, unless plan changed. Other banks not that bad leh, strange.

 

To sack botak...it is veryyyy serious.

 

This one chamion...last night DJ up +230pts and this fellow dropped 54cents! Better sack the botak.

 

Rise up so much yesterday, today drop so fast too.....

 

Well Done !  UOB.  Cheong all the way !!!