1Q18 Banks Scorecard – How Do Our Local Banks Compare?
So, how did the three local banks fare in 1Q18? Investors Takeaway: SG Banks Q1 Report Card 1. DBS Group Holdings – Leading The Race DBS Group Holdings (DBS) kicked off its quarter with a stunning result that beat the market consensus. Net earnings for DBS jumped 21 percent year-on-year and 27 percent sequentially, on the back of margin improvement and growth in its wealth management segment. It was a record quarter for DBS as well. Digitalisation has been and will remain a big focus for DBS in order to extend its customer footprint and enhance its overall efficiencies. DBS’ digital strategy is a step to pre-empt disruption from fintech players while increasing digital-customer stickiness with its products. DBS has been embarking on its mobile-only bank project (DigiBank India and Ind