- DBS (SGX:D05) reported a record 1Q24 performance with net profits reaching a record high at S$2.96b, up 15% y-o-y or +24% q-o-q.
Another strong quarter.
- The stellar performance was also boosted by DBS's strong net fee income, which rose 20% q-o-q to a record S$1.04b. This was on the back of the strong 45% q-o-q surge in wealth income to S$1.04b.
Better performance ratios.
- - Read this at SGinvestors.io -
- Cost-to-income ratio stood at 37% versus 44% in 4Q23 and this is also down from 38% in 1Q23.
- Loans grew 1% q-o-q in constant currency terms. DBS's loans-to-deposits ratio stayed at 78% this quarter, same as 4Q23.
1Q24 dividend of S$0.54
- - Read this at SGinvestors.io -
Balance sheet is healthy.
- 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/.
Carmen Lee OCBC Investment Research | https://www.iocbc.com/ 2024-05-06
Read also OCBC's most recent report:
2024-08-08 DBS Group - 2Q24 Earnings Higher Than Consensus Estimate.
Price targets by 3 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
