DBS Group Holdings (DBS)

DBS chief sounds cautious note, but expects modest growth this year
SINGAPORE (Feb 18): Looking to the future, DBS CEO Piyush Gupta sounded a cautious note. For one, mortgage bookings have fallen by 30% to 40% since additional cooling measures were announced in July last year, he said. However, loan growth should continue and is likely to come from the corporate sector. See also: DBS reports 8% rise in 4Q earnings to $1.32 bil; brings FY18 earnings to new ...
DBS reports 8% rise in 4Q earnings to $1.32 bil; brings FY18 earnings to new record high
SINGAPORE (Feb 18): DBS Group reported 4Q earnings rose 8% to $1.32 billion from a year ago, bringing FY2018 earnings to a record high of $5.63 billion. In the 4Q ended Dec, net interest income rose 11% to $2.33 billion. Net interest margin increased nine basis points to 1.87% with higher interest rates in Singapore and Hong Kong. Loans grew 6% in constant-currency terms to $345 ...
Banking on banks
SINGAPORE (Feb 1): Banks are increasingly turning into yield plays, which tend to do well when interest rates are not rising sharply. And analysts expect the three local banks to continue to experience slow and steady growth this year and into 2020, global financial crises notwithstanding. In a recent interview with The Edge Singapore, Harsh Modi, banking analyst at JPMorgan for Southeast ...
DBS kept at 'buy' with still more upside expected ahead: RHB
SINGAPORE (Jan 21): RHB Research is maintaining its “buy” call on DBS Group Holdings with an unchanged target price of $29.80. This comes on the back of expectations of still more upside ahead, led by widening net interest margin (NIM). Analyst Leng Seng Choon notes that the 3-month SIBOR has been on a rising trend. It currently stands at 1.89%, after hitting an average of 1.73% in 4Q18 ...
Banks kept at 'overweight' by UOB on Fed's dovish stance, dividend yield
SINGAPORE (Jan 18): UOB Kay Hian is maintaining Singapore’s banking sector at “overweight” after the US Fed calmed the nerves of investors with its dovish disposition, which subsequently generated a relief rally. “We maintain ‘buy’ for both DBS and OCBC, although we prefer OCBC,” says analyst Jonathan Koh in a Friday report. The research house has target prices of $28.50 and ...
Singapore's Grab can't afford to fail finance
(Jan 16): After sending rival Uber Technologies Inc packing from Singapore and other Southeast Asian markets, homegrown ride-hailing firm Grab has set itself a stiffer target. It wants to be a regional super-app. Think of it as a digital conglomerate that hooks customers for one thing, only to promise them value for several others, sort of like a Netflix Inc. subscription that also tracks your ...
Coastal Oil's liquidation unlikely to impact local banks, trigger O&G contagion: CGS-CIMB
SINGAPORE (Jan 10): CGS-CIMB Securities is maintaining OCBC and UOB at “buy” despite customer Coastal Oil Singapore having gone bust. The company has outstanding debts of US$354 million, US$29.9 million which is owed to DBS, US$122.7 million to OCBC and US$19.5 million to UOB. “We think that further widespread deterioration of the O&G sector following Coastal Oil’s liquidation ...
Right timing: STI gains strength against developed markets
SINGAPORE (Jan 4): On the face of it, the Straits Times Index had a rocky start to the year. The index remains below its 50-, 100- and 200-day moving averages. However, the STI managed to hold above its one year intra-day low of 2,955. Short-term stochastics has turned up from the bottom of its range and 21-day RSI has rebounded off a support level. Quarterly momentum remains weak but the ...
RHB ‘overweight’ on Singapore banks on expected Sibor rise
SINGAPORE (Jan 2): RHB Research is maintaining Singapore’s banking sector at  “overweight” as rising Sibor is seen to offset the adverse effects from slow loan growth. After the 25bps federal funds rate (FFR) hike on Dec 19, the market now expects a milder 1-2 more hikes this year and the three-month Sibor rose to the current 1.89% from 3Q18’s average of 1.63%. From its ...
DBS named Global Bank of the Year by The Banker
SINGAPORE (Nov 30): DBS Bank has been named Global Bank of the Year by The Banker, a publication of the Financial Times. DBS is also the only bank to receive the top honour in all three categories – global, regional and country – winning Asia-Pacific Bank of the Year and Singapore Bank of the Year as well. Winning The Banker’s Global Bank of the Year award adds to the slew of global ...