Chart of the Week: Singapore banks' non-interest income formed up to 43% of total income

DBS outperformed OCBC and UOB.

According to Maybank Kim Eng, in 4Q16, non-interest income formed c.34-43% of total income for the banks.

"Non-interest income declined by 3-6% YoY for OCBC and UOB, but DBS’ grew 20% YoY in 4Q16. DBS’s outperformance was due to net trading income, which grew 37% YoY while peers’ fell by 20-25%."