had reported higher net interest income for their recent fiscal 2022 first quarter business updates.We take a look at several metrics to help you to decide.It’s a coincidence that all three banks reported a 10% year on year fall in net profit, principally due to lower non-interest income as stock markets were volatile in 1Q2022.
In contrast, UOB saw an 8% year on year decline in fee income while OCBC witnessed a sharp 23% year on year fall in non-interest income.Looking at the allowances made by each bank, it’s clear that there has been a fall in allowances for both UOB and OCBC as economic conditions improve. On an absolute basis, OCBC has the lowest level of allowances while also recording the largest year on year decline.The good news is that all three banks have reported healthy year on year growth in customer loans.For net interest margin or NIM, UOB also has the highest NIM of the three and is the only bank to report a slight year on year increase in NIM of 0.01 percentage points.
The table above summarises the impact of a one percentage point rise in interest rates on the bank’s NII.
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