- We attended DBS’ Investor Day on 22 May 2023 where management shared their digital-led strategy in growth markets, how new businesses with potential have evolved from the previous Investor Day in 2017 and addressed some of the questions from investors and analysts.
- - Read this at SGinvestors.io -
- Technology has transformed the way they manage with the use of a hybrid multi-cloud strategy with in-house infrastructure as a service. Other business segments such as Consumer and SME, Private banking, Global transaction services, and Treasury markets have also benefited from the digital transformation.
DBS' Group Financials
Medium-term ROE of 15-17%, dividends to increase by S$0.24 per year.
- - Read this at SGinvestors.io -
- increasing ROE with scale in growth markets such as transaction banking, wealth management, SME lending and unsecured retail lending, and;
- capital headroom to support profitable growth and higher distributions.
- Notably, DBS' ordinary dividends would be lifted by S$0.24 to S$1.68 in 2023. There is also a further upside of S$3bn based on the optimal CET-1 operating range of 12.5-13.5% (1Q23: 14.1%), which could be distributed in further ordinary dividend step-up, special dividend or share buyback. See DBS' dividend history.
Group ROE structurally improved by 250bps.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Glenn Thum Phillip Securities Research | https://www.stocksbnb.com/ 2023-05-25
Read also Phillip's most recent report:
2024-02-09 DBS Group - Fee Income Recovers; Strong Dividend Growth.
Previous report by Phillip:
2023-11-07 DBS Group - Growth Across The Board Offset By Allowances.
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
