DBS Group - OCBC Investment 2023-02-13: FY23 NIM Guidance Trimmed Despite Earnings Beat

DBS Group - FY23 NIM Guidance Trimmed Despite Earnings Beat

Published:
DBS GROUP HOLDINGS LTD (SGX:D05) | SGinvestors.ioDBS GROUP HOLDINGS LTD (SGX:D05)
  • DBS's 2022 net profit up 20% y-o-y, beating expectations – See DBS's announcements.
  • Final dividend of S$0.42/share and special dividend of S$0.50/share proposed – See DBS's dividend history.
  • - Read this at SGinvestors.io -

DBS' 4Q22 earnings driven by strong NII growth

  • DBS (SGX:D05)'s 4Q22 total income of S$4.59b grew +41% y-o-y/+2% q-o-q driven by +53% y-o-y/+9% q-o-q growth in NII while trading and investment gains picked up from a low base. 4Q22 net profit grew +68% y-o-y/+5% q-o-q to S$2.34b as higher NII and lower general allowances more than mitigated lower non-interest income.
  • - Read this at SGinvestors.io -
  • CASA ratio fell to 60% (3Q22: 66%), close to previous cycle low in 2019 (58%). Cost income ratio (CIR) was 2.2 percentage points (ppt) higher q-o-q. ROE of 17.2% marked a new quarterly high (3Q22’s 16.3%).

FY22 earnings beat, special dividend proposed

  • Read more at SGinvestors.io.




Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.




OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-02-13



Read also OCBC's most recent report:
2024-03-20 DBS Group - Share Price Outperformance.

Previous report by OCBC:
2024-02-07 DBS Group - Record Profits; Strong Dividend Yield Angle.

Price targets by 5 other brokers at DBS Target Prices.

Listing of research reports at DBS Analyst Reports.

Relevant links:
DBS Share Price History,
DBS Announcements,
DBS Dividends & Corporate Actions,
DBS News Articles





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