SG banks exposure to Europe, Russia 'minimal': UOB Kay Hian
The direction for the share prices of banks will depend on the progress of peace talks.
UOB Kay Hian said systemic banking risk due to the Russia-Ukraine conflict is elevated, but below levels seen during Russia's annexation of Crimea and Sevastopol in 2014.
This is due to Russia not being well-integrated into the global financial system and reduced financial linkages.
As for Singapore banks, UOB Kay Hian said their core markets are within Asia, with the three listed banks classifying Europe under the 'rest of the world' category along with Australia, Canada, Japan, and the US. They have established branches in London, but not in continental Europe, such as in Paris and Frankfurt.
UOB Kay Hian concludes the direction for share prices of banks will depend on the progress of peace talks to end the Russia-Ukraine conflict.
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