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Each year we reveal which domestic banks, equity brokerages and debt houses stand out for excellent performance. In Singapore, where all three domestic banks are rated in the world's top ten by Bloomberg, DBS succeeded in gaining a monopoly on our votes.
BEST DOMESTIC BANK
DBS
This was a tough call as all three Singaporean banks are financially sound, with strong capitalisation and good asset quality.
OCBC is perhaps the most diversified of all the banks, with its insurance franchise and wealth management businesses proving an advantage in the current low interest rate environment.
Meanwhile UOB has been very defensive, staying away from new business ventures, and is perhaps the most conservative of the three, sticking to a tried and tested strategy. This has proved a success in the past, but the interest margin advantage that it has traditionally enjoyed is diminishing as a result of the low interest rate environment.
Overall, experts feel that DBS was the best performing domestic bank this year. It has the most geographically diverse print of...