Asked 3w ago
Personal preference, DBS. Mainly because its one of the 'biggest' bank in SG? All the older generations are still using POSB and are reluctant to change. They keep their savings (not a small amount) in a old school bank account with 0.05%. However, the bank can use it for loans, investment, etc to generate much higher returns.
Just think about it, those high interest savings account is giving around 2% p.a. as compared to 0.05% p.a. The bank is pocketing the difference of 1.95% from those that are not keeping up with the market.
Personally I would prefer DBS as well!
There are various reasons to that but one of the reason is that they are pretty tech driven compared to the other local banks. Just take a look at DBS ibanking and its features compared to the other banks.
But with that said, there are quite a few other reasons why I prefer DBS
My personal preference would also be DBS, as it is backed by the government. As one of the major financial institutions in Singapore and used by so many singaporeans, it is basically a corporation that I would say is "too big to fail". If it really fails, many singaporeans would be adversely affected and the govt will def not allow that to happen :)
Dbs got 20 percent hk exposure
Uob got Malaysia Thailand and Vietnam exposure
Depends where u think will do better for loans.
I've shares in both. But think uob might perform better in the midterm - valuations also slightly favorable e.g. Price to book
I would go for DBS, cause largest bank, government backing, and long history.
DBS is more tech driven, able to withstand headwinds
I make videos about interesting stuff at youtube here
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