This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
DBS Reports 31% Profit Jump
November 5, 2021
Singapore’s largest bank DBS reported strong results with Q3 net profit up 31% YoY at S$1.7bn ($1.26bn), beating estimates of S$1.6bn ($1.2bn). 9M 2021 net profits also rose 46% to a record S$5.41bn ($4bn). Net interest income was up 1% QoQ to S$2.1bn ($1.55bn) as the 2% loan growth was partly offset by a 2bp decline in net interest margins to 1.43%. Fee income from wealth management, transaction services and cards rose 8%, 7% and 9% QoQ to S$461mn ($341mn), S$239mn ($177mn) and S$180mn ($133mn) respectively while fees from investment banking declined 38% to S$40mn ($30mn). In terms of its balance sheet, total assets grew marginally to S$676.3bn ($500bn) with NPAs falling 1% QoQ to S$6.57bn ($4.86bn). DBS’ NPL ratio was stable at 1.5%. The bank also reported a general allowance writeback of S$138mn ($102mn) taking the 9M 2021 total writeback to S$413mn ($305mn). The lender’s CET1 stands at 14.5%, unchanged from Q2. DBS also announced a dividend of S$0.33 per share taking the 9M dividend to S$0.84 per share. On the outlook, the CEO’s presentation stated a mid-to-high single-digit loan growth and double-digit fee income growth in 2022 as “business momentum [is] healthy despite supply chain bottlenecks and China developments”.
DBS’ USD 3.3% Perp traded stable at 102.125 yielding 2.62% currently.
For the full story, click here
Go back to Latest bond Market News
Related Posts:
DBS Picks Up 13% Stake In Shenzhen Bank for $800 Million
April 21, 2021
DBS Reports Solid Q1 Numbers
April 30, 2021
DBS Reports 37% Jump in Q2 Profits
August 5, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.