📣 Top mover alert: DBS jumps +3.8% after lunchtime earnings announcement

▪️ DBS announced second quarter net income which climbed 4% to SGD 2.8 billion, surpassing the SGD 2.68 billion average estimates by Bloomberg. The better than expected earnings led the stock to jump 2.4% right after the lunch break to $34.00, up 3.8% for the day as of 114PM. On the back of DBS' price performance for today, Macquarie's trending DBS call warrant DBS MB eCW250328 (IESW) rose +29.4% to SGD 0.044 while trending put warrant DBS MB ePW241202 (YUEW) is down -17.8% to SGD 0.083

📊 Highlights from DBS' earnings include,
: Wealth management fees S$518 million, +37% y/y
: Net interest income from commercial book S$3.77 billion, +5.2% y/y
: Net fee and commission income from commercial book S$1.05 billion, +27% y/y
: Net interest margin 2.14%
: Non-performing loans ratio 1.1% vs. 1.1% y/y

▪️ DBS is the last of the three Singapore banks to report earnings. OCBC had also posted better than expected profit last week while UOB's dip in main lending income was cushioned by wealth management fees and loans

▪️ DBS shares with its 11.7% year to date gains is amongst the top index performers on the STI which is only 0.7% higher on the year. Its shares had taken a 14.7% hit over the past month from 11 July through 6 August after market chatters about more rate cuts by the Fed. DBS has the highest beta to interest rates amongst the three local banks.

🔎 Investors to keen trade DBS moves' using structured warrants can take a look at how the warrants move alongside DBS shares in the Live Matrix tool