DBS Group Holdings (DBS)

Seeking Alpha in the Year of the Rat

Signs of a broader recovery in the global economy have led equity markets higher but yields and valuations of Singapore stocks continue to be attractive. Here's The Edge Singapore annual pick of 10 stocks to help you usher in a more prosperous Lunar New Year

SINGAPORE (Jan 17): At a recent presentation for wealth management clients organised by OCBC Bank, the attendees were polled on their preferred investment asset class for 2020. The results were certainly a delight to relationship managers, who thrive on clients’ transactions.

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Analysts keep positive outlook on Singapore banks as applications for digital bank licences close

SINGAPORE (Jan 8): Analysts remain bullish on Singapore banks, even as the Monetary Authority of Singapore (MAS) announced Tuesday that it has received 21 applications for new digital bank licences.

While MAS did not name the applicants, it said the new digital bank licences have attracted “strong interest from a diverse group of applicants”.

Seven groups had applied for the digital full bank (DFB) licences, while 14 others applied for the digital wholesale bank (DWB) licences.

Singapore has a total of two DFB and three DWB licences up for grabs.

Event risk puts banks in the spotlight

Are the local banks sufficiently diversified to withstand the unrest in Hong Kong? Will they still be profitable and pay dividends?

SINGAPORE (Nov 18): The local banks — the mainstay in most institutional and retail portfolios because of their profitability and dividends — are warning of a challenging 2020. Macroeconomic variables based on the banks’ expected credit loss (ECL) models are indicating that higher provisions need to be made, impacting net profit.

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Banks look to a digital future; wealth management to support growth

(Nov 18): On Nov 14, 11 banks in Hong Kong, including HSBC, OCBC Wing Hang and DBS Hong Kong, announced branch closures because of the protests in the Special Administrative Region. The South China Morning Post reported on Nov 13 that 250, or 19%, of Hong Kong’s 1,300 branches closed on that day, with another 100 closing early. In its bank closure notice, OCBC Wing Hang told customers to use other branches, ATMs or bank online.

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DBS 3Q earnings up 15% to $1.63 bil on strong operating performance, broad-based growth

SINGAPORE (Nov 11): DBS Group Holdings reported 3Q19 earnings of $1.63 billion, a 15% increase from $1.41 billion a year ago.

In a bourse filing on Monday, the group also reported that total income for the quarter grew 13% to a new high of $3.82 billion on the back of  loan growth, record fee income and higher trading gains.

Slowing economy and flat earnings turn banks into yield plays

(Nov 11): Amid a slowing economy, banks are being increasingly looked upon as yield plays. A Goldman Sachs report last month said real estate investment trusts had outperformed the Singapore MSCI Index by 16% so far this year, owing to the sustainability and predictability of distributions. “Banks now yield 5% (based on Goldman’s forecast for FY2020) and there is scope for up to 4% dividend per share growth annually,” the report says.

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OCBC builds new digital ecosystem to deliver better products and services to customers

SINGAPORE (Nov 4): As Oversea-Chinese Banking Corp grew to become a leading bank in Singapore and the region, it built a web of associate companies in other industries, including property, engineering, construction, vehicle distribution, electronics manufacturing, food and drinks manufacturing, department stores and insurance.

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Analysts downbeat about 3QFY2019 banks' results

SINGAPORE (Oct 29): United Overseas Bank is due to report 3QFY2019 earnings on Nov 1, Oversea-Chinese Banking Corp on Nov 5 and DBS Group Holdings on Nov 11. 

DBS considers joining race for Bank Permata Indonesia

SINGAPORE (Oct 10): DBS Group Holdings is considering joining the race to acquire PT Bank Permata, the Indonesian lender in which Standard Chartered Plc holds a stake, according to people familiar with the matter.

Singapore-based DBS is working with an adviser on the possibility of bidding for Permata, which has a market value of about US$2.4 billion ($3.3 billion), said the people, asking not be identified as the discussions are private.

'Jim' the chatbot helps Singapore bank hire for its wealth business

(Oct 8): Singapore’s largest bank is getting help from a chatbot named Jim in its drive to select good candidates for its fast-growing business advising customers on managing their wealth.

DBS Group Holdings says the artificial intelligence programme introduced last year has sped up and improved the quality of initial screening for so-called wealth planners, entry level staff in its consumer banking operation.

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