DBS 02 (Aug 10 - Dec 27)

[winston]

not vested

DBS had a surprise 16 percent gain in first-quarter profit, beating analysts' expectations as interest margins came in higher than expected.


Source: Reuters

[winston]

not vested

Shares of DBS Group Holdings Ltd climbed as much as 1.5 percent to a five-week high, as investors warmed to the stock following its stronger-than-expected quarterly earnings last week.

Upcoming Indonesian rules that may jeopardise DBS Group's $7.3 billion bid to take over Bank Danamon , also helped sentiment as it lessened the risk of DBS becoming bogged down in a drawn-out, messy acquisition and consolidation process.

DBS rose to an intraday high of S$14.17, a level not seen since the announcement of the Danamon deal last month caused the shares to plunge.

"The Danamon deal is still subjective. The market seems to be taking the probability that it may not go through in a positive way," said Ng Kian Teck, lead analyst at SIAS Research.


Source: Reuters

[winston]

Some DBS, POSB ATMs 'temporarily out of service' yesterday by Neo Chai Chin

SINGAPORE - Some DBS and POSB automated teller machines across the island malfunctioned yesterday, causing frustration to customers who had to try several ATMs before finding one that was working.

http://www.todayonline.com/Singapore/ED ... -yesterday

[winston]

not vested

DBS GROUP HOLDINGS LTD - Southeast Asia's biggest lender posted an 11 percent rise in core fourth-quarter net profit to S$760 million ($613.5 million) for October-December after a drop in bad debt charges but missed expectations due to weak margins.


Source: Reuters

[winston]

not vested

UPDATE 1-Singapore's DBS Q4 profit misses forecasts as China bad loans jump

* DBS Q4 net profit S$838 mln versus S$931 mln consensus
* China bad loan provisions up four times
* DBS cites China, commodities as risks

SINGAPORE, Feb 10 (Reuters) - DBS Group Holdings , Singapore's biggest bank, posted a small rise in core fourth-quarter net profit but fell short of analysts' estimates on a jump in provisions for non-performing loans in China and Singapore.

Bad debt provisions rose 40 percent to S$211 million ($155 million) from a year earlier, the highest level since the quarter ending June 2013, according to Thomson Reuters data.

Those for Greater China excluding Hong Kong quadrupled to S$40 million.

Trading income was also hit, dropping 44 percent with the bank blaming less favourable trading conditions.

In its presentation slides, DBS said China and commodities markets would be key risks to watch.

The weaker-than-expected results eclipsed a 10 percent rise in full-year net profit to a record S$4 billion.

For the October-December quarter, net profit rose to S$838 million, below an average forecast of S$931 million from six analysts polled by Reuters.

That compares with a net profit before exceptional items of S$802 million in the same period a year earlier. In the previous year, the sale of a stake in a Philippine bank boosted overall net profit to S$973 million.

But DBS also said it would benefit from rising interest rates.

"Structurally higher returns of our franchise will become more evident as interest rates normalise," it said.

The city-state's banks have benefited from a surge in SIBOR, the benchmark for interbank lending, as interest rates on many home loans are pegged to it. SIBOR has climbed as the Singapore dollar weakened on the view that the U.S. Federal Reserve will move to raise rates later this year.

Source: Reuters

[behappyalways]

DBS’s Quarterly Profit Increases 15% on Interest, Fee Income
http://www.bloomberg.com/news/articles/ ... fee-income

[behappyalways]

DBS Third-Quarter Profit Beats Estimates on Interest Income
http://www.bloomberg.com/news/articles/ ... 07-billion

[winston]

DBS Q4 Profit Beat, Asset Quality Stable

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... ty-stable/

[behappyalways]

China's Debt Misery Finds Singapore
http://www.bloomberg.com/gadfly/article ... -singapore

[behappyalways]

How Deep Into Oil Rigs Is DBS?
http://www.bloomberg.com/gadfly/article ... igs-is-dbs