UOB - Weaker Credit | Struggling Cost Base | Moving to Trading | A Changing Face

Singapore - New Monthly B/S: Trade Finance Loans -24% YoY, Fixed Deposits +37% YoY at 50% of Total

The Week That Was in ASEAN@Smartkarma - Filters, Barito Renewables, and Vertex Technology SPAC.

UOB & DBS - Major Divergence In Bad Loans Over Past 2 Crises

DBS - Beware of Oil Exposures like Last Time Oil Prices Declined

Singapore’s Cyclical Outlook Masks Structural Woes

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li>There is no refuting the strong net interest income figures at DBS, although it seems toppy</li>
<li>DBS took credit costs/assets at 4bps in 2Q23 vs 13bps average during FY18, FY19 quarterly</li>
<li>There are not many banks that we can turn too with over 50% QoQ decline in credit costs</li>
</ul>


There is no refuting the strong net interest income figures at DBS, although it seems toppy
DBS took credit costs/assets at 4bps in 2Q23 vs 13bps average during FY18, FY19 quarterly
There are not many banks that we can turn too with over 50% QoQ decline in credit costs


DBS - Is This the Time To Take Provision Expenses at 70% Lower than Average?

DBS Group

DBS - Is This the Time To Take Provision Expenses at 70% Lower than Average?