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DBS kept at 'buy' by Phillip as lender goes all out on digital banking

PC Lee
PC Lee11/27/2017 12:37 PM GMT+08  • 2 min read
DBS kept at 'buy' by Phillip as lender goes all out on digital banking
SINGAPORE (Nov 27): Phillip Capital is maintaining its “buy” on DBS Group Holdings with a higher target price of $29.83 as DBS goes all-out to embrace digital banking.
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SINGAPORE (Nov 27): Phillip Capital is maintaining its “buy” on DBS Group Holdings with a higher target price of $29.83 as DBS goes all-out to embrace digital banking.

According to Phillip, digital capabilities should continue to improve DBS’ cost to income ratios in established markets. In addition, digitally engaged clients have higher transaction volumes and therefore more profitable than non-digitally engaged clients.

“Expect stronger than expected performance at digibank India in 2018,” says analyst Jeremy Teong in a Monday report, “we increase FY18e PATMI by 8.4% to $6.2 billion.”

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