Singapore banks
Table 1: Singapore banks’ capital position
| CET1 Ratio | Minimum CET1 ratio | 2021 dividend yield* | Actions from regulators | |
| DBS (SGX:D05) | 13.9% | 9.1% | 5.2% | Dividends limited to 60% of the amount paid in 2019 |
| OCBC (SGX:O39) | 14.4% | 9.1% | 5.6% | |
| UOB (SGX:U11) | 14.0% | 9.1% | 5.6% | |
Source:
Respective companies' 3Q20 reports *2021 dividend yield will be calculated assuming dividends return to
pre-COVID levels Data as of November 2020 |
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US banks
Table 2: US banks’ capital position
| CET1 Ratio | Minimum CET1 ratio | 2021 dividend yield* | Actions from regulators | |
| JPM (NYSE:JPM) | 13.9% | 11.3% | 3.0% | Share buybacks suspension and capped dividends |
| Citigroup (NYSE:C) | 14.4% | 10.0% | 3.6% | |
| Bank of America (NYSE:BAC) | 14.0% | 9.5% | 2.5% | |
| Wells Fargo (NYSE:WFC) | 11.4% | 9.0% | 3.6% | |
Source: Respective companies' 3Q20 reports *2021 dividend yield is calculated assuming no dividend growth Data as of November 2020 |
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UK and European banks
Table 3: UK and European banks’ capital position
| CET1 Ratio | Minimum CET1 ratio | 2021 dividend yield* | Actions from regulators | |
| HSBC (HKEX:5) | 15.6% | 9.5% | 3.6% | Suspension in both share buybacks and dividends |
| Standard Chartered | 14.4% | 9.5% | 1.9% | |
| Lloyds Bank | 15.2% | 9.0% | 4.4% | |
| BNP Paribas | 12.6% | 9.2% | 3.5% | |
| Banco Santander | 12.0% | 8.0% | 3.3% | |
Source:
Respective companies' 3Q20 reports *2021 dividend yield is calculated based on 50% of pre-COVID distribution
level Data as of November 2020 |
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Dividends and share buybacks are likely to normalise in the next one to two years
Table 4: Components of the IXG ETF
| Geography | Weight | |
| JPMorgan | US | 5.6% |
| Bank of America | US | 3.4% |
| Citigroup | US | 1.8% |
| Wells Fargo | US | 1.8% |
| HSBC | UK/HK | 1.7% |
| BNP Paribas | Europe | 0.9% |
| Banco Santander | Europe | 0.7% |
| Lloyds Bank | UK | 0.5% |
| DBS | Singapore | 0.5% |
| OCBC | Singapore | 0.5% |
| UOB | Singapore | 0.4% |
| Standard Chartered | UK/HK | 0.2% |
| Other US banks: | 5.8% | |
| Other European/UK banks: | 7.1% | |
| Other global banks: | 17.5% | |
Source:
iShares, iFAST compilations Data as of 8 December 2020 |
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