Singapore, Feb 9, 2026, 15:02 SGT — Regular session.
- UOB shares picked up roughly 0.8% in afternoon trading, pushing toward the upper end of their one-year range.
- DBS fell after missing fourth-quarter profit estimates and warning about rate pressures that could linger into 2026.
- Attention turns to UOB’s full-year numbers, which land Feb. 24.
United Overseas Bank Ltd (UOB) shares climbed roughly 0.8% to S$38.80 in Monday’s afternoon session, with intraday swings from S$38.53 up to S$38.92. Market data shows the stock’s 12-month range running from S$29.00 to S$39.50.
Timing is key here. As Singapore’s banks kick off earnings season, investors are busy gauging just how much this year’s profit margins might get pinched by declining interest rates.
Net interest margin is top of mind — that’s the difference between what banks make on loans and what they pay depositors. If that gap tightens, profits may slide, even if loan demand stays steady.
DBS Group kicked off the week on a sour note, posting a fourth-quarter net profit of S$2.26 billion—a 10% drop from a year earlier, and falling short of the S$2.55 billion analysts had penciled in. Pressure came as net interest margin slipped to 1.93%, and trading income failed to deliver. CGS International’s Tay Wee Kuang and Lim Siew Khee flagged the weaker-than-expected markets trading income as the main culprit behind the fourth quarter miss. “The key driver for the underperformance in 4Q25 was weaker-than-expected markets trading income,” they wrote. CEO Tan Su Shan had a blunt message for clients: “Buckle up, it’s going to be a volatile year.” Results from UOB and OCBC are on deck, slated for Feb. 24 and Feb. 25. Reuters
That doesn’t give UOB much space for a quiet climb before the results. Traders are zeroed in on margins—are they holding up better than expected? Fee income also goes under the microscope as they look for offsets to softer lending spreads.
Credit costs are the other wild card. DBS saw a spike in provisions for bad loans this quarter, forcing a fresh look at asset-quality assumptions across the sector.
UOB’s shares hover near their one-year peak, after a solid run-up in bank stocks. Investors aren’t likely to shrug off fresh signs of higher provisions, slackening loan growth, or a steeper drop in margins—any of those could knock the stock back fast.
UOB’s full-year results drop Feb. 24, giving investors their next clear look at how the bank is handling rate pressure and credit risks. OCBC reports the following day, setting up a direct comparison between the two lenders.
Related articles: SGX:U11
