DBS Group - Maybank Research 2024-11-07: Hitting The Right Notes

DBS Group - Hitting The Right Notes

Published:
DBS (SGX:D05) | SGinvestors.io
  • DBS's 9M24 earnings were strongly ahead of MIBG/Street supported by buoyant trading and fees. These trends are likely to continue in the near term.

Strong base for growth, plus capital returns. BUY

  • - Read this at SGinvestors.io -

Recovering NoII trajectory.

  • Non-interest income (NoII) was better than expected. This was helped by 3Q24 market trading income on DBS’ own books jumping +53% y-o-y in given FX, rate and equity derivative volatility. While unpredictable, given volatility is continuing in 4Q, we expect an elevated contribution.
  • - Read this at SGinvestors.io -
  • We raise 2024-26E NoII forecasts for DBS by 3-8%.

NIM falling, but slow. NII could hold up

  • Read more at SGinvestors.io.




Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.




Thilan Wickramasinghe Maybank Research | https://www.maybank.com/ 2024-11-07



Previous report by Maybank:
2024-08-07 DBS - Franchise Strength; Strong Dividend Visibility Even If Rates Are Cut..

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





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