(Nov 27): DBS Group Holdings has edged out telecoms giant Singapore Telecommunications to become the country’s largest listed company by market capitalisation. As at Nov 23, DBS was valued at $63 billion while Singtel was worth $60.4 billion. Year-to-date, the bank’s stock has gained 46.4%. In comparison, shares in Singtel are up just 4.2%. DBS is seeing strong growth amid a push into digital banking services. The bank is guiding for a bank-wide return on equity of 13.5% to 14.5%. This is an unprecedented figure, considering its historical peak was 12.7% in 2006. ROE was 10.3% for FY2016, and is 9.7% for 9MFY2017.

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