Banks vying for market share in Singapore and abroad

DBS is my go-to bank for daily transactions as it has the cleanest UI among all the digital banking apps. Of course, service disruptions have been relatively common in the past year - which never really affected the stock's performance - but I'm sure DBS will rectify the issues.

I've done short term trades of DBS in the past, but I'm also looking to buy in for the long term when the share price drops. It is a well established blue chip that offers shareholders consistent dividend payouts.

In terms of the banking sector as a whole, Singapore does not have a huge population and there's only so much market share that the Big 3 can vie for. This is further complicated by the introduction of digital banks like Mari and Trust, which offer great incentives to snatch some of the business from the industry leaders.

In view of this, as well as the rate cut expectations for this year, it will be challenging for the Big 3 to continually deliver revenue and bottom-line growth. This is perhaps why the Big 3 has been looking abroad, where the markets are far larger than Singapore. As we know, DBS has a growing presence in markets like India, and UOB had acquired Citi's consumer banking business in four asean markets not long ago. This is perhaps how the Big 3 can continue to deliver sustainable revenue and profit growth for the years to come.