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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  DBS Group Holdings Ltd    DBSM   SG1L01001701

DBS GROUP HOLDINGS LTD

(DBSM)
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DBS : First Quarter Net Profit Rises 21%

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04/29/2018 | 05:54pm EDT

By Saurabh Chaturvedi

SINGAPORE--DBS Group Holdings Ltd., Singapore's biggest lender, on Monday reported a 21% rise in its first quarter net profit, helped by higher net interest income and non-interest income amid growth in loans.

Net profit in the March quarter was 1.51 billion Singapore dollars (US$1.14 billion), compared with S$1.25 billion in the same period last year.

DBS was expected to post a net profit of S$1.41 billion, according to estimates on FactSet.

Net interest income rose to S$2.13 billion from S$1.83 billion a year ago as the bank's net interest margin grew to 1.83% in the first three months from 1.74%. Customer loans during the quarter rose 10% from a year ago to S$328.22 billion.

Income from fees and commissions grew 12% on year to S$744 million. Total income from operations was at S$3.36 billion from S$2.89 billion in the first quarter of last year.

Expenses rose 12% to about S$1.40 billion from S$1.25 billion a year ago, DBS said.

The bank's ratio of nonperforming loans rose to 1.6% in the first quarter versus 1.4% last year. It was at 1.7% in the fourth quarter of last year.

While keeping a watchful eye on potential geopolitical trade tensions, DBS Group Chief Executive Piyush Gupta said he expects the region's economic fundamentals to remain sound, something that bodes well for the lender's loan growth outlook.

"Our pipeline is healthy and we expect to continue capturing business opportunities and delivering shareholder returns in the coming year," he added.

--Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DBS GROUP HOLDINGS LTD 0.04% 24.59 End-of-day quote.3.49%
DBS GROUP HOLDINGS LTD. (ADR) End-of-day quote.
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Financials (SGD)
Sales 2019 14 345 M
EBIT 2019 8 133 M
Net income 2019 6 202 M
Debt 2019 -
Yield 2019 5,01%
P/E ratio 2019 10,1x
P/E ratio 2020 9,94x
Capi. / Sales2019 4,38x
Capi. / Sales2020 4,21x
Capitalization 62 832 M
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Technical analysis trends DBS GROUP HOLDINGS LTD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 28,24  SGD
Last Close Price 24,59  SGD
Spread / Highest target 28,1%
Spread / Average Target 14,9%
Spread / Lowest Target 4,92%
EPS Revisions
Managers
NameTitle
Piyush Gupta Vice Chairman & Chief Executive Officer
Lim Huat Seah Independent Chairman
Sok Hui Chng Chief Financial Officer
David Gledhill Chief Information Officer
Yiu Kiang Goh Non-Independent Non-Executive Director
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