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Singaporean (SGX) Banks Industry Analysis

UpdatedAug 26, 2026
DataAggregated Company Financials
Companies3
  • 7D1.1%
  • 3M24.2%
  • 1Y54.9%
  • YTD38.6%

Over the last week, the Banks has lost 1.7%. In the past year, the industry has gained 52%. Looking forward, earnings are forecast to grow by 6.9% annually.

Industry Valuation and Performance

Has the Singaporean Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 26 Aug 2026S$426.3bS$49.2bS$23.7b18.1x18x8.7x
Fri, 24 Jul 2026S$409.6bS$48.0bS$22.9b17.5x17.9x8.5x
Sun, 21 Jun 2026S$362.9bS$48.0bS$22.9b14.9x15.8x7.6x
Tue, 19 May 2026S$337.7bS$48.0bS$22.9b13.9x14.8x7x
Thu, 16 Apr 2026S$328.8bS$47.8bS$22.8b14x14.4x6.9x
Sat, 14 Mar 2026S$309.5bS$47.8bS$23.0b12.8x13.5x6.5x
Mon, 09 Feb 2026S$327.2bS$47.8bS$23.1b13.5x14.2x6.8x
Wed, 07 Jan 2026S$314.3bS$47.8bS$23.1b12.6x13.6x6.6x
Fri, 05 Dec 2025S$295.8bS$47.8bS$23.1b12.1x12.8x6.2x
Sun, 02 Nov 2025S$286.9bS$49.1bS$24.4b10.5x11.8x5.8x
Tue, 30 Sep 2025S$273.5bS$49.1bS$24.4b10.1x11.2x5.6x
Thu, 28 Aug 2025S$275.4bS$49.1bS$24.4b10.3x11.3x5.6x
Sat, 26 Jul 2025S$278.1bS$49.0bS$24.5b10.4x11.3x5.7x
Mon, 23 Jun 2025S$254.1bS$49.0bS$24.5b9.8x10.4x5.2x
Wed, 21 May 2025S$258.0bS$49.0bS$24.6b9.9x10.5x5.3x
Fri, 18 Apr 2025S$245.9bS$48.8bS$24.7b9.8x10x5x
Sun, 16 Mar 2025S$261.3bS$48.8bS$24.8b10.2x10.5x5.4x
Tue, 11 Feb 2025S$270.2bS$48.7bS$24.6b10.9x11x5.5x
Thu, 09 Jan 2025S$271.2bS$48.3bS$24.2b10.9x11.2x5.6x
Sat, 07 Dec 2024S$259.5bS$48.3bS$24.2b10.6x10.7x5.4x
Mon, 04 Nov 2024S$232.2bS$46.9bS$23.5b9.6x9.9x4.9x
Wed, 02 Oct 2024S$228.7bS$46.9bS$23.5b9.6x9.7x4.9x
Fri, 30 Aug 2024S$218.7bS$46.9bS$23.5b9.3x9.3x4.7x
Sun, 28 Jul 2024S$223.3bS$46.2bS$23.1b9.7x9.7x4.8x
Tue, 25 Jun 2024S$216.6bS$46.2bS$23.1b9.2x9.4x4.7x
Thu, 23 May 2024S$216.8bS$46.2bS$23.1b9.1x9.4x4.7x
Sat, 20 Apr 2024S$206.4bS$45.3bS$22.7b8.8x9.1x4.6x
Mon, 18 Mar 2024S$197.9bS$45.4bS$22.7b8.5x8.7x4.4x
Wed, 14 Feb 2024S$189.2bS$45.3bS$22.4b8.4x8.4x4.2x
Fri, 12 Jan 2024S$188.9bS$45.1bS$22.6b8.3x8.4x4.2x
Sun, 10 Dec 2023S$184.5bS$45.1bS$22.6b8.1x8.2x4.1x
Tue, 07 Nov 2023S$193.0bS$44.7bS$22.3b8.6x8.7x4.3x
Thu, 05 Oct 2023S$191.6bS$43.9bS$21.9b8.6x8.8x4.4x
Sat, 02 Sep 2023S$189.9bS$43.9bS$21.9b8.7x8.7x4.3x
Price to Earnings Ratio

8.7x


Total Market Cap: S$189.9bTotal Earnings: S$21.9bTotal Revenue: S$43.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Banks Industry Price to Earnings3Y Average 11.1x202420252026
Current Industry PE
    There are only 3 companies in the Singaporean Banks industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 2.7% per year over the last three years.
  • Revenues for these companies have grown 3.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Singaporean Financials industry?

SG Market-0.13%
Financials0.65%
Banks1.12%
Diversified Banks1.12%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 11.1x.
    • Analysts are expecting annual earnings growth of 6.9% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 6.9% over the next 5 years.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 6.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
O39 Oversea-Chinese BankingS$31.441.6%
+S$2.2b		88.7%PB2.2x
D05 DBS Group HoldingsS$76.240.3%
+S$681.9m		52.0%PB3.1x
U11 United Overseas BankS$40.951.0%
+S$643.5m		16.7%PB1.4x

Latest News

O39
S$31.44
Oversea-Chinese Banking
7D
1.6%
1Y
88.7%
D05
S$76.24
DBS Group Holdings
7D
0.3%
1Y
52.0%
U11
S$40.95
United Overseas Bank
7D
1.0%
1Y
16.7%
Narrative Update • Aug 11

U11: Future Returns Will Balance AI Infrastructure Funding And Wealth Partnership Execution

Analysts have slightly raised their SGD price target for United Overseas Bank to about SGD43.43 from around SGD42.47, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E, after recent Street research highlighted softer non wealth fee income expectations. What's in the News for United Overseas Bank UOB agreed for Allianz Global Investors to acquire UOB Asset Management, with the deal covering the UOBAM franchise across eight Asian markets.