DBS - OCBC Investment 2024-11-07: Share Buybacks & Strong 3Q Results

DBS - Share Buybacks & Strong 3Q Results

Published:
DBS (SGX:D05) | SGinvestors.io
  • DBS (SGX:D05) generated a record quarterly profit of more than S$3b in 3Q24, with net profits up 15% y-o-y or 8% q-o-q to S$3.03b. This was well-supported by improvements for both interest and non-interest incomes. Leading the top earnings contributor is DBS's thriving wealth management business.

Record quarterly profit.

  • - Read this at SGinvestors.io -
  • - Read this at SGinvestors.io -
  • Aside from wealth management, credit card also posted strong y-o-y gain to S$302m, continuing the >S$300m contribution per quarter since 4Q23 from its expanded geographical operations.
  • As a result of better fee income, DBS's total income surged 11% to S$16.8b.
  • DBS continued to exercise strong cost discipline with cost-to-income at 38.7%, holding at about the same level as 9M23. Return on equity (ROE) remained high at 18.8%. Non-performing Loans (NPL) ratio is healthy at 1.0%.
  • DBS is also setting up a S$3b share buyback programme.
  • Dividend of 54 cents for 3Q24

    • 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/ 2024-11-07



    Previous report by OCBC:
    2024-09-24 DBS Group - Strong Share Price Outperformance.

    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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