- The capital return initiative (24 cents annual increment, 15 cents capital return dividend per quarter, and S$3bn share buyback) and a 6.7% dividend yield are very attractive. ACCUMULATE with a higher DBS's target price of S$46.90 as we roll over our valuations.
- - Read this at SGinvestors.io -
4Q24 Earnings In line
- DBS' 4Q24 adjusted PATMI of S$2.6bn was in line with our estimates, FY24 adjusted PATMI is 100% of our FY24e forecast.
- NII rose 9% y-o-y from NIM rising by 2bps to 2.15% and loan growth of 3%. Non-interest income growth of 21% was led by WM fees and trading income.
- - Read this at SGinvestors.io -
The Positives
NII & NIM rise.
- Read more at SGinvestors.io.
