- DBS achieved a record net profit of S$3,027m in 3Q24 (+15% y-o-y, +8% q-o-q), driven by a surge in wealth management fees (+55% y-o-y) and markets trading income (doubled y-o-y). NPLs declined 8% q-o-q due to sizeable repayment and recoveries.
- - Read this at SGinvestors.io -
- The Board established a new share buyback programme of S$3b. DBS will continue to return surplus capital to shareholders through step-ups in regular quarterly dividends, special dividends and share buybacks.
Weathered mild NIM compression.
- - Read this at SGinvestors.io -
Bumper quarter for wealth management.
- Wealth management fees grew 55% to S$609m due to broad-based growth from buoyant sentiment and brisk sales of investment and bancassurance products. AUM expanded 13.6% y-o-y to S$401b.
- Card fees increased 12% y-o-y. Transaction service fees were stable at S$227m.
- Overall, fees & commissions expanded 32% y-o-y.
Volatilities beget surge in treasury activities.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-08
Read also UOB's most recent report:
2025-02-11 DBS Group - Returning Excess Capital Over 3 Years During 2025-2027.
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 Dividend Payout Dates & Corporate Actions,
DBS News
