DBS (D05); UOB (U11); OCBC (O39): Singapore Banks Dividend Yield And Share Price Performance

DBS, OCBC and UOB are among the largest companies listed on the Singapore Exchange. Together, they were worth about $384 billion at the close on 6 November 2026. This means that when we invest in the Straits Times Index (STI), a substantial proportion of our portfolio is exposed to the three local banks.

All three banks’ share prices fell by double digits between 6 October and 6 November 2026. UOB recorded the largest decline at 15.6%, followed by OCBC at 13.9% and DBS at 11.3%.

Part of the decline had already happened before the banks released their third-quarter results in November. During October, rising global bond yields made bonds more competitive with dividend-paying stocks, while investors reassessed whether the banks could sustain their strong earnings. Higher rates can increase what banks earn on loans, but they can also raise funding costs and weigh on investment portfolios. This put greater scrutiny on profit margins ahead of the November results.

The one-month changes exclude dividends. The illustrative yields use the 6 November closing prices and annualise the latest declared payout. That works out to $3.24 per share for DBS, $0.94 for OCBC and $1.76 for UOB. Actual full-year payouts may differ.

DBS’s $0.81 quarterly payout comprises a $0.66 ordinary dividend and a $0.15 capital return dividend. Based on its ordinary dividend alone, its illustrative annualised yield is 3.8%.

Read Also: Complete Guide To Investing In The Straits Times Index (STI) ETFs In Singapore

DBS (SGX: D05)

DBS reported third-quarter net profit of $2.81 billion, down 5% year on year and 9% from the previous quarter. Total income fell 1% year on year to $5.85 billion.

Net interest income rose 4% year on year to $3.71 billion, supported by balance sheet growth and hedging, despite a narrower net interest margin of 1.87%. Net fee income grew 6% to $1.43 billion. Weaker markets trading income, which fell 65% to $152 million, weighed on the quarter’s performance.

Over the first nine months, net profit rose 2% to $8.82 billion, while net fee income rose 15% to $4.37 billion. Wealth management fees grew 24% to $2.69 billion. Wealth assets under management reached $544 billion at the end of the third quarter.

DBS’s non-performing loan ratio improved to 0.9%, from 1.0% in the previous quarter. The bank declared $0.81 per share for 3Q2026, bringing its declared payout for the first nine months to $2.43 per share, including $0.45 in capital return dividends.

OCBC (SGX: O39)

OCBC reported third-quarter net profit of $2.04 billion, up 3% year on year. Profit was 8% lower than in 2Q2026, even though banking operations profit rose 8% from the previous quarter to a record $1.90 billion. Weaker investment performance at Great Eastern weighed on group earnings.

Net interest income rose 2% quarter on quarter to $2.31 billion. Growth in average assets and higher yields helped offset increased funding costs. Net fees of $735 million were comparable to the previous quarter, while customer flow trading income reached a record $480 million.

For the first nine months, net profit rose 10% to a record $6.24 billion. Wealth management fees rose 25% to $1.33 billion, while banking wealth management assets under management reached $358 billion at the end of September.

OCBC’s non-performing loan ratio improved to 0.8%. Its latest declared ordinary dividend was $0.47 per share for the first half of 2026.

Read Also: How Did OCBC Become One Of The Biggest Banks In Southeast Asia?

UOB (SGX: U11)

UOB reported third-quarter net profit of $1.25 billion, up from $443 million a year earlier but down from $1.48 billion in the previous quarter. The year-on-year comparison benefited from a low base, as UOB had set aside additional allowances in 3Q2025. Operating profit fell about 3% year on year to $1.81 billion.

Compared with the previous quarter, operating profit fell about 8%. The cost-to-income ratio rose to 46.4%, from 45.3%, while the non-performing loan ratio improved to 1.5%, from 1.6%.

Gross customer loans increased to $372 billion at the end of September, from $361 billion at the end of June. Customer deposits rose to $447 billion from $437 billion over the same period. UOB’s latest declared ordinary dividend was $0.88 per share for the first half of 2026.

UOB’s proposed $555 million sale of UOB Asset Management to Allianz Global Investors is expected to generate a pre-tax gain of about $330 million, excluding one-off transaction costs. UOB expects the deal to close in 2027, subject to regulatory approvals.

The agreement also includes a long-term distribution partnership, allowing UOB to continue offering investment products managed by Allianz Global Investors to its customers.