- DBS (SGX:D05) posted another record-breaking quarter with 2Q23 net profit of S$2.63b after one-off item (for Citi Taiwan), and this is up 45% y-o-y and 2% q-o-q. This is also better than the street’s expectations of S$2.4b.
- - Read this at SGinvestors.io -
- Return on equity (ROE) touched a new quarterly high of 19.2%. Cost-to-income ratio stayed below 40% at 38.3% in 2Q23.
2Q23 dividend per share (DPS) of S$0.48
- This is an increase of S$0.06 from 1Q23's dividend of S$0.42, giving a total dividend of S$0.90 for 1H23. Based on S$0.48 and on an annualised basis, this translates to a dividend yield of 5.3% based on current DBS's share price.
- See DBS's dividend dates. The ex-dividend date is 11 Aug 2023 and dividends will be paid on 24 Aug 2023.
Positive guidance.
- - Read this at SGinvestors.io -
- On fee income, DBS's management is guiding for high-single digit in 2H23, giving a mid-single digit growth for the full year. This will come from higher card spendings and upside for its wealth management business.
- DBS saw net new money inflows of S$12b in 1H23. Cost-to-income is projected to stay below 40%, with expense growth of 10% for the full year. Full year ROE is forecasted to stay above 17%.
Asset quality remains healthy.
- Read more at SGinvestors.io.
