$DBS(D05.SI)$ The typical Price-to-Earnings (P/E) ratio for major banks in Singapore (DBS, OCBC, and UOB) generally ranges between 10x and 15x, with a long-term historical average resting around 10x to 12x.
Because Singapore’s banking sector is dominated by a trio of large caps, key valuation metrics vary across the group:
Current Valuation Breakdown (Big Three)
DBS Group (SGX: D05): Trades at a premium, typically 13.5x to 15x P/E. DBS commands a higher ratio due to its higher Return on Equity (ROE ~17%), strong wealth management division, and technological leadership.
OCBC Bank (SGX: O39): Trades around 11.5x to 13.5x P/E.
UOB (SGX: U11): Typically trades at the relative value end, around 10x to 11.5x P/E.
Even with this price drop on DBS, it's still way overvalued. In my opinion a good entry point would be around $55-$65.
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