DBS 02 (Aug 10 - Dec 27)

[winston]

not vested

DBS Group reported a 14 per cent boost in net profit to S$1.51 billion for the fourth quarter from compared with a year ago, on the back of broad-based business momentum.

Earnings per share stood at S$2.31 for the quarter, up from S$2.01 previously.

The company recommended a final dividend of 33 Singapore cents per share, subject to shareholders' approval at the annual general meeting on March 31.

Source: Phillips

[winston]

not vested

DBS GROUP HOLDINGS LTD (DBS SP) | HOLD

RECORD PROFITS, DIVIDENDS LIFTED

FY19 full year earnings grew +14% yoy, reaching a record SGD6.39bn.

4Q earnings gained +14% yoy but decelerated -7% qoq to SGD1.51bn, driven by lower provisions and fee income growth.

Final 4Q dividend per share lifted from 30 cents to 33 cents. Annualised payout for FY20E raised to $1.32/share (implying ~5% yield based on last closing price of SGD25.42), affirming our recent Singapore Banks sector update where we highlighted a supportive dividend outlook.

Single digit revenue impact likely from the Covid-19 for early 2020, assuming outbreak is controlled by summer.

Hold rating maintained on a modest growth outlook from lower NIMs and modest loan growth, although dividends should remain steady “barring unforeseen circumstances”, backed by a solid balance sheet.

DBS is Southeast Asia’s largest bank by total assets and a proxy for Asia’s growth and rising middle class via its operations spanning Hong Kong, Greater China and Southeast Asia. We see its earlier focus on technological investments as a key differentiating factor in improving customer experience and acquisition. The bank has moved to quarterly dividends from financial year 2019 to provide shareholders with a more steady income stream and aims to continuously pay sustainable and increasing dividends over time (50% payout ratio). FY20E full year dividend per share is expected at $1.32/share.

Source: OCBC

[behappyalways]

DBS posts 14% rise in 4Q earnings to $1.51 bil; FY19 net profit, total income soar to new highs
https://www.theedgesingapore.com/capita ... -new-highs

[winston]

vested

DBS expects further revenue hit as Covid-19 causes loans to sour

SINGAPORE: DBS Group Holdings Ltd. signaled that its expected 2% revenue hit from the Covid-19 coronavirus may be revised as the pandemic causes loans to sour.

"This is a moving target, ” the bank’s head of institutional banking Tan Su Shan said when asked about the projection in a Bloomberg Television interview in Singapore on Thursday. "We are living day by day, week by week right now.”

Southeast Asia’s biggest lender made the forecast last month, based on an assumption that the outbreak would subside around the middle of the year. Since then it has spread around the globe, killing more than 4,600 people, roiling financial markets and prompting the World Health Organization to declare a pandemic.

Asian stocks fell again Thursday after President Donald Trump said he will restrict travel from Europe to the U.S. for the next 30 days.

Singapore-based DBS is monitoring its loan portfolios very closely while continuing to conduct stress tests, said Tan, who oversees corporate clients. "The key here is to stay with the clients, watch everyone’s positions and make sure everyone is OK.”

Having gone through the initial wave of virus-inflicted fear earlier this year, Singapore and other parts of Asia are now seeing signs of stability as governments boost their economies via stimulus packages, Tan said. But the road to recovery would need business confidence and consumer demand returning, she added.

"Given the demand situation, I see NPLs going back up, ” Tan said, expecting more bad loans from small and medium-sized companies and sectors including tourism, apparel, hospitality and those linked to consumer demand. Still, now is the time to extend credit to help small firms, she added.

DBS’s 2019 allowances for credit and other losses fell 1% while its non-performing loan ratio stood unchanged at 1.5%.

Shares of DBS fell 3.8% in Singapore at 12:42 p.m. local time, in line with the benchmark Straits Times Index. The stock has slid 22% this year.

Tan has marked her first anniversary in her current role, which she assumed in February 2019. Before that, she led DBS’s consumer banking and wealth management group from 2013. - Bloomberg

Source: The Star

https://www.thestar.com.my/business/bus ... ns-to-sour

[winston]

not vested

DBS Q1 profit falls to 2-1/2-yr low on coronavirus loan loss provisions

SINGAPORE, April 30 (Reuters) - Singapore's DBS Group Holdings set aside S$1.09 billion ($772.5 million) to cover the impact of the coronavirus pandemic as Southeast Asia'sbiggest lender reported a 29% fall in first-quarter profit to the lowest in 2-1/2 years.

DBS said provisions for credit losses surged inJanuary-March from S$76 million a year earlier. They were well above an average estimate of S$605 million, according to Refinitiv data.

First-quarter profit fell to S$1.16 billion compared withS$1.65 billion a year earlier, in line with an average estimateof S$1.13 billion from four analysts, according to Refinitiv data.

DBS said it set aside the allowances "to accelerate the build-up of reserves", with two-thirds of the amount kept for general allowances to anticipate a "deeper and more prolonged economic impact from the pandemic." The remainder was for specific allowances, mainly for new exposures recognised as non-performing during the quarter.

DBS, which pays quarterly dividends, retained its proposed dividend of 33 Singapore cents per share for the latest quarter.

Source: Reuters

[winston]

not vested

DBS CEO Says Majority Of Bank's Loans In Oil And Gas Sector Are To Oil Majors And State-Owned Companies

April 30 (Reuters) - DBS Group Holdings Ltd :

* CEO SAYS BANK IS NOT CUTTING BACK EXPOSURE TO OIL AND GAS SECTOR, GETTING MORE DISCIPLINED ON DOCUMENTATION AROUND TRADE FINANCE

* CEO SAYS MAJORITY OF BANK'S LOANS IN OIL AND GAS SECTOR ARE TO OIL MAJORS AND STATE-OWNED COMPANIES

Source: Reuters

[behappyalways]

DBS posts 26% fall in 1H20 earnings to $2.41 bil; increases provisions, lowers dividend to 18 cents
https://www.theedgesingapore.com/capita ... nings-1h20

[winston]

not vested

DBS Group Holdings Ltd (DBS SP) - Decent operating performance

DBS is Southeast Asia’s largest bank by total assets and a proxy for Asia’s growth and rising middle class via its operations spanning Hong Kong, Greater China and Southeast Asia.

We see its earlier focus on technological investments as a key differentiating factor in improving customer experience and acquisition.

The bank has moved to quarterly dividends from financial year 2019 to provide shareholders with a more steady income stream and aims to continuously pay sustainable and increasing dividends over time (50% payout ratio).

Following the 1Q20 quarterly dividend per share of $0.33/share, MAS has guided for FY20 DPS for the sector to be capped at 60% of FY19 DPS.

DBS has guided for quarterly DPS of $0.18/share for the coming quarters from 2Q20-1Q21. 2Q20 CET1 ratio remains solid at 13.7% and is expected to remain in range of 12.5%-13.5%.

BUY.

Source: OCBC

[winston]

not vested

DBS Group Holdings Ltd (DBS SP) - Improving business momentum

DBS is Southeast Asia’s largest bank by total assets and a proxy for Asia’s growth and rising middle class via its operations spanning Hong Kong, Greater China and Southeast Asia.

We see its earlier focus on technological investments as a key differentiating factor in improving customer experience and acquisition.

The bank has moved to quarterly dividends from financial year 2019 to provide shareholders with a more steady income stream and aims to continuously pay sustainable and increasing dividends over time (50% payout ratio).

Following the 1Q20 quarterly dividend per share of $0.33/share, MAS has guided for FY20 DPS for the sector to be capped at 60% of FY19 DPS.

DBS has guided for quarterly DPS of $0.18/share for the coming quarters from 2Q20-1Q21. 3Q20

CET1 ratio remains solid at 13.9% and is expected to remain in range of 12.5%-13.5%. BUY.

Source: OCBC

[winston]

not vested

DBS Group Holdings Ltd (DBS SP) - More constructive on 2021

DBS is Southeast Asia’s largest bank by total assets and a proxy for Asia’s growth and rising middle class via its operations spanning Hong Kong, Greater China and Southeast Asia.

We see its earlier focus on technological investments as a key differentiating factor in improving customer experience and acquisition.

The bank has moved to quarterly dividends from financial year 2019 to provide shareholders with a more steady income stream and aims to continuously pay sustainable and increasing dividends over time (50% payout ratio).

Following the 1Q20 quarterly dividend per share of $0.33/share, MAS has guided for FY20 DPS for the sector to be capped at 60% of FY19 DPS.

DBS has guided for quarterly DPS of $0.18/share for the coming quarters from 2Q20-1Q21.

3Q20 CET1 ratio remains solid at 13.9% and is expected to remain in range of 12.5%-13.5%. BUY.

Source: OCBC