Long-Term Thesis on Singapore Banks Reaffirmed; Best-Idea OCBC Remains Top Pick
There is no change to our long-term thesis after our latest meeting with Singapore banks. We continue to see the three Singapore banks as benefactors of long-term growth regionally. Our forecasts and fair values remain unchanged, ahead of the first-quarter result because we have factored in an increase in net interest margins and mid-single-digit loan growth. With resilient resilient economic conditions, we expect non-performing loans and credit costs to be benign. A slight uptick is expected co...United Overseas Bank is bank in Asia with a network of offices in 19 countries and territories in Asia Pacific, Western Europe and North America. Co. provides a range of financial services including personal financial services, private banking, business banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, brokerage and clearing services, asset management, venture capital management and insurance. Co. operates within three main operating segments: Group Retail, Group Wholesale, and Global Markets and Investment Management. As of Dec 31 2014, Co. had total assets of S$306.74 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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