DBS Group - UOB Kay Hian 2024-02-08: Accelerating Pace Of Returning Surplus Capital To Shareholders

DBS Group - Accelerating Pace Of Returning Surplus Capital To Shareholders

DBS (SGX:D05) | SGinvestors.ioDBS (SGX:D05)
  • DBS’s 4Q23 dividend increased by 6 cents to 54 cents. Quarterly dividend is expected to remain at 54 cents in 2024 after the 1-for-10 bonus issue. See DBS's bonus issue date.
  • - Read this at SGinvestors.io -
  • Management will continue to review DBS’ capital structure in view of returning more surplus capital to investors. Maintain BUY.

DBS's 4Q23 Highlights

  • DBS Group (SGX:D05) reported net profit of S$2,269m for 4Q23, down 3% y-o-y and 12% q-o-q. The results included one-time integration costs of S$24m for Citibank Taiwan and contribution of S$100m to Corporate Social Responsibility (CSR). Operationally, 4Q23 results were in line with our expectation.

Slower growth for net interest income.

  • - Read this at SGinvestors.io -
  • CASA outflows eased in 4Q23. Net interest income grew at single-digit rate of 4.7% y-o-y.

Tepid loan growth.

  • Read more at SGinvestors.io.

Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.

Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-02-08

Read also UOB's most recent report:
2024-05-03 DBS Group - Accelerating Pace Of Returning Surplus Capital To Shareholders.

Price targets by 4 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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