DBS Group Holdings (DBS)

Right timing: STI’s upclimb supported by momentum and moving averages
SINGAPORE (Apr 20): There has been little change in the trend and chart pattern of the Straits Times Index. The index has been on a very glacial ascent towards 3,420, the target indicated when the index broke out of resistance at 3,190 in mid-Jan. Quarterly momentum eased during the past four trading sessions. The 100- and 200-day moving averages have turned positive. This coupled ...
DBS kept at 'buy' by RHB with higher target price on widening NIM
SINGAPORE (Apr 11): RHB still has a “buy” call on DBS, with a higher target price of $29.60 from $28.80 previously. This is based on a 2020F price-to-book ratio of 1.43 times, giving a 10% upside and a 4% FY19 yield. In a Wednesday report, analyst Leng Seng Choon says, “We believe our long-term ROE assumption of 13.5% (vs 2018’s 12.2%) is achievable given greater NIM expansion in 1H19 ...
Revamp of DBS Vickers a sign of things to come; can brokerages, remisiers maintain their relevance?
SINGAPORE (Mar 15): During a recent trip to Kuala Lumpur, I ran into an old friend whom I knew from my days in the brokerage business back in the 1990s. To my surprise, he told me that he still worked in the industry and appeared to be making a good living at it. After two financial crises and a collapse in brokerage commissions, just about everyone I know from this business has moved on. Many ...
US rate hike pause priced into banking stocks, says CGS-CIMB
SINGAPORE (Mar 11): CGS-CIMB Research says current bank valuations have priced in downside risks of a pause in US Federal Reserve rate hikes on sector earnings. Absence of asset quality pressure should also prevent de-rating. “Maintain ‘Overweight,” says analyst Andrea Choong in a Friday report with DBS Group Holdings, United Overseas Bank and Oversea-Chinese Banking Corp in order of ...
DBS bets on 'poisoned chalice' of India banking for profits
(Mar 6): DBS Group Holdings aims to bolster loans to Indian consumers and small businesses as part of a plan to reduce its reliance on Singapore. Southeast Asia’s biggest bank will push credit through its new wholly owned unit in India, Chief Executive Officer Piyush Gupta said in an interview in Mumbai, where the bank is beefing up both its brick-and-mortar branches and its digital presence ...
DBS Bank to accelerate expansion in India with establishment of wholly-owned subsidiary
SINGAPORE (Mar 4): DBS Bank on Monday launched its locally incorporated wholly owned subsidiary, DBS Bank India Limited (DBIL). This marks a key milestone for the bank, which has been present in India for 25 years. DBS set up a representative office in India in 1994 and opened its first bank branch in 1995. It currently operates in 12 cities: Delhi, Mumbai, Bengaluru, Chennai, Kolkata, ...
Local banks to face greater asset risks due to worsening macroeconomic conditions: Moody's
SINGAPORE (Feb 26): Singapore's three largest banks by assets, DBS Bank, Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) will face greater asset risks this year due to worsening macroeconomic conditions despite ending 2018 with record net profits, stable asset quality and strong capital, says Moody’s Investors Service. This, combined, with the stagnation of net interest ...
Singapore banks flag risks after disappointing earnings season
SINGAPORE (Feb 22): After being stung by the market turmoil at the end of last year, Singapore’s banks are bracing for fresh challenges from China-US trade tensions and a slowing world economy. “We expect ongoing global uncertainties to continue to weigh on business sentiment in the near term,” United Overseas Bank Chief Executive Officer Wee Ee Cheong told reporters Friday in Singapore ...
Right timing: Temporary pause as STI consolidates gains
SINGAPORE (Feb 22): The recovery by the Straits Times Index that started towards mid-January is likely to continue despite short term hiccups. Quarterly momentum is in rising mode, the 50- and 100-day moving averages are positively placed, and the index remains above its 200-day moving average. ADX is rising and the DIs are positively placed. Interestingly annual momentum has stabilised ...
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 ...