DBS Profits Jump with Record Loan Growth and Increase in Fee Income

DBS Group reported a 37% jump in its Q4 2021 profits with its annual 2021 profits hitting a record of S$6.8bn ($5.1bn), up 44% YoY. The record profits came on the back of a 9% rise in loan growth to S$409bn ($304bn) for the year, its highest in seven years alongside a 15% increase in fee income to S$3.5bn ($2.6bn). Yearly net income climbed to S$1.39bn ($1.03bn), up 38% YoY. Its investment banking unit fees rose 47% to S$218mn ($162mn), benefited from record fixed income fees and a recovery in equity market activities. Also, its wealth management fees rose 19% to S$1.79bn ($1.3bn) due to higher sales of investment products and bancassurance. The board proposed an increase of three cents per share from the previous payout to S$0.36/share as Q4 dividends. The group’s CET1 ratio stood at 14.4%.

DBS’s dollar bonds were flat with its 3.3% Perp at 99.8, yielding 3.4%

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