汇丰银行-新加坡银行业-singapore banks：possible reality check in 2q17-20170719-hsbc.pdfVIP

19 July 2017   Singapore banks EQUITIES FIG Possible reality check in 2Q17 Singapore  Time for banks to deliver on revenue expectations Kar Weng LOO* Banks Analyst, SEA  NIM may not be as strong as initially hoped for The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch karwengloo@.sg  OCBC: TP SGD12.10 is our key pick for tactical reasons +65 6658 0621 Xiushi CAI* Time to deliver. Bank stocks are up 17%-24% YTD compared to 14% for the FSSTI. Banks Analyst The Hongkong and Shanghai Banking Corporation The strong performance is driven by market expectations of stabilizing asset quality and Limited, Singapore Branch better top line growth. Banks played a huge role in shaping these expectations due to xiushicai@.sg