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StockTalk(8.3): DBS reports impressive Q2 results: Will the momentum continue for future growth?
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$DBS (D05.SG)$, Singapore's largest lender, reported impressive Q2 results, with a net profit of S$2.6 billion, a 45% YoY increase. Excluding integration costs from the Citigroup acquisition, net profit would have reached a record S$2.7 billion, up 48%. This exceeded analysts' consensus estimate of S$2.4 billion.
The bank's net interest margin rose to 2.16%, and total income crossed the S$5 billion mark, driven by a 40% YoY increase in commercial book total income. Net interest income soared 54% YoY to S$3.6 billion, while net fee income saw its first YoY increase in six quarters, up 7% to S$823 million. Despite declining loans and deposits due to market conditions, DBS maintained a strong position.
CEO Piyush Gupta highlighted the bank's resilience, technology enhancements, and ability to seize business opportunities. DBS declared a dividend of S$0.48 per share for Q2 FY2023, reflecting confidence in its performance. Shares closed at S$33.84.
Will DBS continue to capitalize on business opportunities?
What does this strong performance mean for its future growth?
What does this strong performance mean for its future growth?
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Moomoo SG OP :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Will DBS continue to capitalize on business opportunities?
What does this strong performance mean for its future growth?
Join us and share your thoughts on today's topic!
snoopy123 : DBS raised dividend guidance from 42cts to 48cts per quarter and says there's more upside in distribution which can be in the form of higher ordinary dividends, special dividends or share buyback.. and thus underscores CEO Piyush's confidence in the bank's performance for 2nd half of 2023..![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
$DBS (D05.SG)$
Buy n Die Together❤ : Will DBS continue to capitalize on business opportunities? = Yesss!
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
What does this strong performance mean for its future growth? = Ya, grow big big.
ZnWC : DBS will continue to capitalise on business opportunities such as wealth management, credit cards and transaction services. DBS reports record net profit of $2.69 billion in the 2QFY2023, up 48% yoy and declares dividend of 48 cents per share implies that the bank is moving in the right direction of further growth.
But there is more to be done especially in areas of slowing down. Treasury markets trading income fell by 36% y-o-y to $446 million and Net Income Interest fell to a loss of $261 million from $316 million are areas of concern that negative macroeconomics uncertainties still exit. Having said that the strong performance is a good sign that banking sector is in the road of recovery.
ReadyGo : I like to believe DBS will continue capitalizing its business opportunities. The statement made by the DBS CEO after the bank's earning result has highlighted DBS's business direction is set to focus on digitizing, cash and wealth management i.e the business growth area that will continue to perform well.
No_Horse_Run_4896 : Since m the day I know about Singapore, DBS has been a household brand to International brand. I don see any obstacles that will stop our proud Singapore bank from growing. Love DBS