DBS Group

[Mithrandir77]

Seit letztem Jahr im Depot als Ersatz für einen Emerging Markets Fond. 

Wichtigster Aktionär ist der Staatsfond Singapurs Temasek (Temasek und Maja Holdings). Shareholding Staristics  DBS

 

Name: DBS Bank Limited
ISIN/WKN: SG1L01001701/880105

Webseite:  https://www.dbs.com/investors/default.page 

 

Zitat

About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023.

 

 

Geschäftsbereiche:

- Consumer Banking/Wealth Management

- Institutional Banking

- Treasury Markets

 

Durch einige Übernahmen in den letzten Jahren sind die verstärkt in Taiwan (Übernahme der lokalen Geschäfte der Citigroup) und Indien (Lakshmi Vilas Bank) vertreten. 

 

DBS Group CEO explains its raised stake in Shenzhen bank and why it’s ‘constructive’ on China

CNBC Interview über das China Geschäft mit dem CEO Piyush Gupta (07.02.2024)

 

DBS to raise stake in China's Shenzhen Bank

 

 

Zitat

DBS full-year net profit rises 26% to record SGD 10.3 billion, return on equity rises to 18.0%

Board proposes final dividend of 54 cents per share and 1-for-10 bonus issue

Singapore, Hong Kong, Indonesia, India, China, Taiwan, 07 Feb 2024 - DBS Group achieved a record performance in 2023 as net profit rose 26% to SGD 10.3 billion. Return on equity climbed from 15.0% to a new high of 18.0%. Total income grew 22%, exceeding SGD 20 billion for the first time, driven by a higher net interest margin, a rebound in fee income and record treasury customer sales. Asset quality was resilient with specific allowances remaining low at 11 basis points of loans.

For the fourth quarter, net profit grew 2% from a year ago to SGD 2.39 billion. A 9% rise in total income to SGD 5.01 billion from higher net interest income and non-interest income resulted in a 7% increase in profit before allowances to SGD 2.80 billion. Total allowances of SGD 142 million were higher than a year ago when there had been a general allowance write-back. Compared to the previous quarter, net profit fell 9% due to a lower net interest margin and seasonally lower non-interest income.

Dividends and bonus issue

The Board proposed a final dividend of 54 cents per share for the fourth quarter, an increase of six cents from the previous payout. This brings the ordinary dividend for the financial full year to SGD 1.92 per share, an increase of 42 cents from the previous year.

In addition, the Board proposed a bonus issue on the basis of one bonus share for every existing 10 ordinary shares held. The bonus shares will qualify for dividends starting with the first-quarter 2024 interim dividend and will increase the pace of capital returns to shareholders. Barring unforeseen circumstances, the annualised ordinary dividend going forward will be SGD 2.16 per share over the enlarged share base, which represents a 24% increase from the SGD 1.92 per share for financial year 2023. Based on the closing share price on 6 February 2024, the post-bonus annualised dividend yield would be 7.5%.

The stepped-up capital returns reflect the Group’s strong capital position and are in line with the policy of paying sustainable dividends that rise progressively with earnings.

Corporate social responsibility (CSR) commitment

As part of a recently announced CSR commitment of up to SGD 1 billion over 10 years to support vulnerable communities, an inaugural contribution of SGD 100 million was set aside from the year's profits. The commitment aims to improve the lives of the underprivileged in DBS' key markets. The first initiative under this pledge was announced in December 2023 – a SGD 30 million partnership with Singapore’s Ministry of Social and Family Development to help underprivileged families with children living in rental flats.

One-time bonus for junior employees

In line with the latest guidelines issued by Singapore’s National Wages Council to help lower-income employees cope with higher costs of living, junior employees across the group, which make up half of total headcount, will each receive a one-time bonus. The aggregate payment of SGD 15 million was set aside in expenses for 2023.

Accountability for digital disruptions

The Board determined that the variable compensation for the CEO and other members of the Group Management Committee should be cut to hold them accountable for the series of digital disruptions during the year. Their 2023 variable compensation was collectively reduced by 21% from the previous year despite record 2023 profits. The CEO took a deeper cut of 30%, which amounted to SGD 4.14 million.

DBS has made a whole-of-bank effort and committed SGD 80 million to implementing its technology uplift and resilience roadmap. These efforts will enable the bank to better pre-empt disruptions to its services, provide customers with alternate channels for payments and account enquiries during disruptions, and shorten incident recovery time. Going forward, the bank will continue with its investments to sustain efforts to provide reliable services to customers.

Full-year performance

Commercial book net interest income rose 33% to a record SGD 14.3 billion as net interest margin expanded 65 basis points to 2.76% from higher interest rates. The improvement in net interest margin resulted from the repricing of assets with higher interest rates. Although deposit costs also increased, the pace was slower compared to asset yields.

Loans rose 1% or SGD 6 billion in constant-currency terms to SGD 416 billion. Excluding Citi Taiwan, which contributed SGD 10 billion, underlying loans fell 1% or SGD 4 billion. Trade loans accounted for most of the decline, falling 8% or SGD 3 billion due to lower activity and unattractive pricing. Non-trade corporate loans were stable at SGD 246 billion. Despite a healthy loan pipeline, rising interest rates led to higher repayments. In addition, there was a shift in China corporate borrowing to cheaper options onshore in the first half. Housing loans were little changed, with a 1% or SGD 1 billion growth in the fourth quarter offsetting a decline in the first nine months. Other consumer loans fell 2% or SGD 1 billion as wealth management customers repaid loans in a high interest rate environment.

Deposits rose 3% or SGD 13 billion to SGD 535 billion. Citi Taiwan contributed SGD 12 billion, while underlying deposits were stable. Casa outflows decelerated compared to the previous year and were replaced by fixed deposits.

Commercial book net fee income rose 9% to SGD 3.38 billion. Card fees grew 22% to a record SGD 1.04 billion from higher spending as well as the integration of Citi Taiwan. Wealth management fees increased 13% to SGD 1.51 billion, reflecting strong net new money inflows, a shift from deposits into investments and bancassurance, and contribution from Citi Taiwan. Fee income from other activities rose 4% as higher loan-related fees were partially offset by weaker transaction service fees as trade finance slowed.

Commercial book other non-interest income increased 18% to SGD 1.79 billion as treasury customer sales reached a record.

Treasury Markets total income declined 38% to SGD 725 million due to higher funding costs.

Expenses rose 14% to SGD 8.06 billion led by an increase in staff costs from salary increments and a higher headcount. Excluding Citi Taiwan and non-recurring technology and other costs, expenses rose 10% and the underlying cost-income ratio was 39%.

Profit before allowances grew 29% to a new high of SGD 12.1 billion.

 

DBS full-year net profit rises 26% to record SGD 10.3 billion, return on equity rises to 18.0%

 

Es gibt dazu keine Quellensteuer in Singapur. Durch die sinkenden Zinsen in diesem Jahr sollte man aber mit deutlich weniger Wachstum rechnen. 

 

 

[Wuppi]

vor 8 Stunden von Mithrandir77:

Durch die sinkenden Zinsen in diesem Jahr sollte man aber mit deutlich weniger Wachstum rechnen. 

Auf sinkende Zinsen würde ich nicht unbedingt setzen, zumindest nicht in dem Umfang wie noch vor 1-2 Quartalen vermutet wurde. Der DBS ist starkes Wachstum in Phasen ohne Zinsen gelungen, worin siehst du die besonderen Stärken dieser Bank? Habe mich zu wenig damit beschäftigt aber der Standort Singapur ist sicherlich interessant, auch für reiche Chinesen die ihr Geld vlt. nicht bei heimischen Banken liegen haben wollen.

[Mithrandir77]

Am 10.2.2024 um 21:10 von Wuppi:

Auf sinkende Zinsen würde ich nicht unbedingt setzen, zumindest nicht in dem Umfang wie noch vor 1-2 Quartalen vermutet wurde. Der DBS ist starkes Wachstum in Phasen ohne Zinsen gelungen, worin siehst du die besonderen Stärken dieser Bank? Habe mich zu wenig damit beschäftigt aber der Standort Singapur ist sicherlich interessant, auch für reiche Chinesen die ihr Geld vlt. nicht bei heimischen Banken liegen haben wollen.

Aus Hongkong ist schon viel Geld nach Singapur geflossen. Schwer abzuschätzen ob da noch mehr kommt.

 

Hatte mich von den drei Großbanken erstmal für DBS entschieden wegen dem Indiengeschäft  und der höheren Marktkapitalisierung. UOB schaue ich mir aber auch nochmal an.

Singapore Bank DBS: A Blueprint For Digital Transformation In Finance

das Thema Digitalisierung ist natürlich heute auch sehr wichtig

 

 

Investing In Singapore Bank Stocks: Is Now The Time? | Money Mind | Stocks

[Mithrandir77]

DBS quarterly results trounce forecasts, another record year expected

 

Zitat

Singapore’s biggest bank DBS Group reported on Thursday first-quarter results that trumped expectations with broad-based growth and said it expects net profit to exceed last year’s record result.

Citing robust business momentum as loans grew and both fee income and treasury customer sales reached new highs, net profit jumped 15% from the same period a year earlier to S$2.96 billion ($2.2 billion), compared with market expectations for a 3.5% decline.

Shares in DBS climbed 3% in morning trade.

Guidance that net profit would grow this year was more upbeat than in the previous quarter when DBS said only that it expected this year’s net interest income to be around 2023 levels. Last year, DBS reported record profit of S$10.3 billion.

“While geopolitical tensions persist, macroeconomic conditions remain resilient and our franchise is well positioned to capture business opportunities,” DBS Chief Executive Officer Piyush Gupta said in a statement.

“We are optimistic that total income and earnings will be better than previously guided and we will be able to deliver another year of strong shareholder returns,” he added.

 

DBS Group CEO: Better outlook for our net interest margins if the Fed keeps rates on hold

 

(Bonusaktien wurden auch am Dienstag eingebucht)

[Mithrandir77]

DBS boosts digital asset push with first stablecoin tie-up

 

Zitat

DBS will, for the first time, custody stablecoin reserves and offer related cash management services, in a tie-up with the local unit of cryptocurrency issuer Paxos.

The lender said the development deepens its wide-ranging involvement in the digital asset ecosystem, making the announcement after Paxos’ operation in the country received a licence from the Monetary Authority of Singapore.

“We look forward to partnering leading stablecoin issuers for their cash management and reserve custody needs if they meet the regulatory requirements,” Evy Theunis, head of digital assets at the institutional banking group at DBS, said on Tuesday (Jul 2).

 

[Mithrandir77]

Picked after decade-long succession process, Tan Su Shan will be DBS' first female CEO

 

Zitat

SINGAPORE: When veteran banker Tan Su Shan takes the helm of DBS, she will be the first female chief executive officer of Singapore's largest bank.

Ms Tan, 56, is currently head of the DBS’ institutional banking group. She will take the top job when Mr Piyush Gupta, 64, retires in March 2025 after 15 years as CEO.

"STRONG TRACK RECORD"

Mr Thilan Wickramasinghe, Maybank Securities' head of research in Singapore and regional head of financials, said Ms Tan has "a very strong track record of experience".

One major challenge Ms Tan has to tackle is structural slowdown in North Asia, particularly China and Hong Kong where about a third of DBS' book is, he told CNA's Asia First programme on Thursday.

This also comes as the world expects interest rates "to be coming off on a full-blown scale", with the United States Federal Reserve expected to cut rates soon.

"Managing the banking business, which has enjoyed phenomenal margin growth over the past couple of years, to a point where margins are going to start to come down - that will be one of the key challenges that she will need to manage," Mr Thilan said.

DBS net profit up 4% to S$2.8 billion in Q2, beats forecast

[Mithrandir77]

DBS stock jumps on $3b share buyback plan, record $3.03b quarterly profit

 

Zitat

DBS forecast 2025 net profit to be below 2024 levels due to a 15 per cent global minimum corporate tax being introduced by Singapore from January and imposed on multinational companies including DBS. Pre-tax profit and group net interest income will be around 2024 levels, according to Mr Gupta’s observation slides accompanying the results. 

Net interest margin will see a slight decline that could be mostly offset by loan growth, he added. 

Non-interest income for the commercial book will grow at “high-single digits” next year, led by wealth management fees and treasury customer sales, he said. 

DBS, which is South-east Asia’s biggest bank, announced a quarterly dividend of 54 cents per share, up from 48 cents declared the same quarter a year ago. The third-quarter dividend will be paid out on or about Nov 25.

The bank announced that its board had established a new share buyback programme of $3 billion.

Similar to other firms, DBS periodically buys back its stock in the open market. This is the first time, however, that repurchased shares will be cancelled. Post-buyback, DBS will retain about $6 billion in excess capital, according to Bloomberg Intelligence analyst Rena Kwok.

“The new buyback programme we announced today is underpinned by our strong capital position and ongoing earnings generation, and it is another affirmation of our commitment to capital management,” Mr Gupta said.

He said there is no timeframe for the buybacks to take place and the programme could take “a few years to do”.

He added that “any time is a good time”, given DBS’ strong fundamentals but noted that the bank will be thoughtful and prudent about when it chooses to buy back its shares.

DBS said the programme is expected to provide a “permanent lift” to its earnings per share as well as return on equity.

Asked why the bank opted for a buyback instead of paying out the excess capital to shareholders via a special dividend, deputy CEO Tan Su Shan, who will take over from Mr Gupta in March 2025, said: “The buyback programme expands our toolkit for capital management. The considerable amount of capital we have returned in recent years has been a distinguishing hallmark that remains well-supported by our financial strength.”

 

Exclusive-Singapore's DBS eyes Malaysian bank stakes in expansion push, sources say

 

Zitat

SINGAPORE (Reuters) - Singapore's biggest lender DBS Group Holdings Ltd is exploring expanding into Malaysia with potential acquisitions of stakes in banks in its Southeast Asian neighbour, including in one of Malaysia's smallest banks by assets, two sources said.

DBS is exploring a purchase of Singapore state investor Temasek's 29.1% stake in Alliance Bank Malaysia Bhd, said the two sources with knowledge of the matter, a slice currently valued at about $460 million.

Other options for expanding into Malaysia include buying Kuwait Finance House's Malaysian retail banking assets, worth more than $500 million and which have been put up for sale, one of the sources said.

Deliberations are in very early stages, however, the sources said, and any formal negotiations for an acquisition of a stake in a Malaysian bank would need approval from the Malaysian central bank, or Bank Negara Malaysia.

 

DBS is the only Singaporean bank without a retail banking presence in Malaysia. Local rivals Oversea-Chinese Banking Corporation and United Overseas Bank both have retail banking operations in Malaysia.

DBS' plan to foray into Malaysia comes amid improving economic prospects for the Southeast Asian nation, with new infrastructure projects and investments expected to result in a surge in credit growth.

 

 

[Mithrandir77]

Alliance Bank Malaysia’s top shareholder Vertical Theme said to be mulling sale to DBS

 

Zitat

INVESTMENT management firm Vertical Theme is planning to seek approval in the coming weeks to start talks about selling its stake in Alliance Bank Malaysia, according to people familiar with the development.

Vertical Theme, a Malaysian holding company, is considering selling its roughly 29 per cent stake in Alliance Bank to Singapore’s biggest lender, DBS, the people said, asking not to be identified because the deliberations are private.

Under local rules, Vertical Theme needs to submit an application to Malaysia’s central bank to start any talks. If a deal goes through, DBS may consider raising its stake in Alliance to up to 49 per cent via a voluntary partial general offer, the people said.

Alliance Bank shares rose as much as 1.2 per cent in Kuala Lumpur on Thursday (Jan 16). The lender has a market value of around US$1.7 billion. DBS climbed up to 1.3 per cent. The Singaporean lender has a market value of US$91 billion.

A deal for Alliance would give DBS a foothold in Malaysia, where Singaporean rivals Oversea-Chinese Banking Corp and United Overseas Bank already have an established presence.

Singaporean state investor Temasek Holdings owns 49 per cent of Vertical Theme via Duxton Investment & Development, while the remainder is held by RRJ Capital founder Richard Ong, hotelier Ong Beng Seng and corporate adviser Seow Lun Hoo through Langkah Bahagia.

 

[Mithrandir77]

DBS to reward staff with $1,000 special bonus, plans new quarterly capital return dividend in 2025

 

Zitat

South-east Asia’s largest bank by assets said it achieved a record performance in 2024 as full-year net profit rose 11 per cent to $11.4 billion, with return on equity at 18 per cent.

DBS shares jumped $1.70, or 3.8 per cent, crossing $46 for the first time to hit $46.38 shortly after trading opened on Feb 10.

At the close, DBS was up 70 cents or 1.6 per cent at $45.38, while OCBC Bank rose 0.35 per cent to $17.39 and UOB gained 1 per cent to $37.77.

DBS’ latest bonus payments are expected to cost the bank a total of $32 million.

 

It said it plans to pay a final dividend of 60 cents per share for fourth quarter 2024, up from the year-ago payout of 54 cents. This brings its ordinary dividend for the full year to $2.22 per share or $6.31 billion – an increase of 27 per cent from a year earlier.

DBS also plans to introduce a capital return dividend of 15 cents per share per quarter in financial year 2025, as a first step to managing down the stock of excess capital over the coming three years.

In the subsequent two years, DBS said it expects to pay out a similar amount of capital either through this or other mechanisms, barring unforeseen circumstances.

“The board will continue to consider all forms of returning capital,” DBS said.

Outgoing DBS chief executive Piyush Gupta said he is confident about the bank’s outlook. “While macroeconomic and geopolitical uncertainties persist, the franchise and digital transformations carried out over the past decade position us well to continue delivering healthy returns,” he said in a statement.

Analysts have said banks’ earnings could take a hit this year, with global economic growth threatened by US President Donald Trump’s trade tariffs and other policies.

But for 2025, DBS expects group net interest income to slightly surpass 2024 levels based on market expectations of two US rate cuts in the second half of 2025.

The bank projects commercial book non-interest income growth to be in high-single digits, led by growth in wealth management fees and treasury customer sales.

“We are expecting a lot more volatility, in markets, rates and forex, as a result of announcements from the Trump administration,” said DBS deputy CEO Tan Su Shan, who will be taking over from Mr Gupta when he retires in March.

Speaking at DBS’ results briefing, Ms Tan said: “We have to take a view and then be guided by longer-term trends. While there will be reactions around some of the tariffs – at least for our markets in Asia, especially in China and South-east Asia – the countries here are looking to be more resilient internally and to look at more intra-regional trade.

“Though we will stress test our portfolio, there will be inflation, which may keep rates higher for longer. If so, there might be some stressors in the SME (small and medium-sized enterprises) book or in the consumer book that we have to be ahead of and be risk aware.”

The bank expects pre-tax profit in 2025 to be around 2024 levels but net profit to fall below this due to a global minimum tax of 15 per cent, which comes into effect for large Singapore multinational companies this year.

In the fourth quarter under review, DBS’ net interest margin (NIM), a key profitability gauge, rose to 2.15 per cent from 2.13 per cent in the same period a year earlier.

Commercial book net interest income rose 5 per cent to $3.83 billion thanks to the higher NIM and balance sheet growth.

Commercial book net fee income increased 12 per cent to $968 million, driven by growth in wealth management fees, as well as higher card, transaction service and investment banking fees.

Loan-related fees declined 11 per cent.

 

 

[Mithrandir77]

DBS Q1 profit down 2% but beats estimates; CEO says loan demand in first half of 2025 to stay strong

 

Zitat

SINGAPORE - DBS warned of heightened uncertainty arising from US President Donald Trump’s trade war and tariff actions, but said it would stay nimble to capture opportunities and manage risks.

Singapore’s largest bank on May 8 posted a 2 per cent fall in net profit for the first quarter to $2.89 billion.

While this was the lender’s first year-on-year drop in earnings since the first quarter of 2022, it beat the $2.87 billion forecast by analysts in a Bloomberg poll.

The drop was due to higher tax expenses from the implementation of a 15 per cent global minimum tax in January, said DBS. Pre-tax, profit hit a record $3.44 billion, up 1 per cent from a year ago.

In the light of tariff uncertainties, general allowances of $205 million were taken as a prudent measure to strengthen general provision reserves.

The bank’s return on equity (ROE) was 17.3 per cent, down from 19.4 per cent a year ago.

In fact, DBS will likely benefit from shifts in trade and supply chains, as intra-regional trade within Asia and Asia’s trade with the Middle East and Europe pick up, said Ms Tan.

“The good news is that trade outside the US still remains pretty robust, and you work towards that shift in focus from just selling to the US or the West to looking at trade flows outside the US.”

DBS is projecting a loan growth of 5 per cent to 6 per cent in 2025, but that depends on loan demand in the second half of 2025, said Ms Tan.

The bank expects loan demand in the first half of 2025 to stay strong, but cautioned that it may soften if the trade war continues.

The bank declared a total dividend of 75 cents per share for the first quarter, comprising an ordinary dividend of 60 cents (up from 54 cents a year ago) and a capital return dividend of 15 cents.

DBS shares closed 0.8 per cent up at $43.09 on May 8 after an intraday high of $43.72.

During the quarter, it commenced share buyback under the $3 billion programme announced in November 2024. So far, about $260 million of shares, representing around 9 per cent of the programme, has been bought back, the bank said.

Its commercial book net interest income rose 2 per cent year on year to $3.72 billion, as a nine-basis-point decline in net interest margin was more than offset by balance sheet growth.

Net fee income increased 22 per cent to $1.28 billion as wealth management fees grew on strong market sentiment and higher assets under management, while loan-related fees rose with increased activity.