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CGS-CIMB expects DBS to record net profit of $1.73 bil for 2QFY2022

Felicia Tan
Felicia Tan7/21/2022 11:54 AM GMT+08  • 3 min read
CGS-CIMB expects DBS to record net profit of $1.73 bil for 2QFY2022
DBS will be releasing its results for the quarter and the 1HFY2022 on the morning of Aug 4. Photo: Bloomberg
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CGS-CIMB Research analysts Andrea Choong and Lim Siew Khee are keeping their “buy” call on DBS Group Holdings with an unchanged target price of $40.20 ahead of the bank’s results for the 2QFY2022 ended June.

DBS will be releasing its results for the quarter and the 1HFY2022 on the morning of Aug 4.

In their report dated July 19, the analysts are expecting the bank to report a stronger net interest margin (NIM) expansion of 10 basis points (bps) q-o-q to 1.56% for the 2QFY2022, compared to the 3 bps q-o-q increase seen in the 1QFY2022. The NIM expansion will offset the weakness in fees, which may be weighed down by the risk-off sentiment in wealth management income, the analysts say.

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