DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High
On May 2nd, $DBS Group Holdings(D05.SG$ announced its first-quarter profit, which reached a record high. As Singapore's largest bank, DBS attributed the positive result to an increase in deposits from cautious investors who were seeking a secure place to store their funds amidst global banking instability, as well as heightened uncertainty surrounding the state of the world economy and geopolitical affairs.
First-quarter net profit up 43% yoy to record $2.57bn, ROE 18.6% at new high
• Total income up 34% to $4.94bn from healthy business momentum with loans up 3%, NIM up 66bp, fee trend improving
• Commercial book total income up 44% to $4.67bn while Treasury Markets normalises to $269m per guidance
• Cost-income ratio at 38%, SP at 6bp of loans, GP of $99m taken as prudent measure
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/60cbfc7c2d9c3a39b9f3957916d886ab.png/bigmoo)
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/61b5e701a0fe3af8b48146fa668c1bce.png/bigmoo)
First quarter net profit up 10% QoQ with total income up 8%
• Commercial book income grows 6% from higher loans (+1%), NIM improvement (+8bp), stronger fee income growth (+29%)
Balance sheet healthy
• Benefited from flight-to-safety deposit inflows / wealth management net new money in March
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/2b07aa9912993e1b9b634d1e085765d6.png/bigmoo)
• NPA declines 3% QoQ with new NPA formation remaining low and more than offset by repayments and write-offs
• Allowance coverage rises to 127% and to 229% after considering collateral
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/d37526d618b33bf2bf54b0c1b30787bf.png/bigmoo)
• CET-1 at 14.4% 1Q dividend at 42 cents per share
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/21fba6a31c9d3a8a841f23da4864d585.png/bigmoo)
1Q dividend at 42 cents per share
![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/783b836af0ef328c875171fb646895d6.png/bigmoo)
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![DBS Group Reports Strong Q1 Performance, Profit Jumps 43% to New High](https://sgsnsimg.moomoo.com/101000149/editor_image/0976d37718543fcd81b5a8d489ba9b97.jpg/bigmoo)
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Durian Tree : TQ
101772986 :![+1 👍](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f44d.png)
Limth22 : Good reviews
102653079 : Great job DBS. Thanks
LeeDee : Stock price still drop :-(
KB trader : Enroute to 29.50 for now