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DBS
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investor2
Member |
11-Nov-2024 17:03
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Hopefully, some benefited from the 11.11 sale today. | ||||
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finjungle
Veteran |
11-Nov-2024 16:16
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Just buy buy With such info why wait?
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BinderyT
Elite |
11-Nov-2024 16:03
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Here' s an interesting tidbit. If u invested $1,000 on 1 Nov 23, u will gain - DBS (46.49%), OCBC (32.05%), UOB (36.77%). Dividend is about the same across all 3 (6.49%, 6.56% and 6.19%). DBS has the highest capital gain because of the 1-for-10 bonus. | ||||
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Fiat500
Veteran |
11-Nov-2024 15:48
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Ocbc is lagging far far behind now..Fair value should be @ least 18 bucks for Ocbc.
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pkli899
Supreme |
11-Nov-2024 14:49
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UOB very strong. Gap between DBS & UOB dropped from $7 to less than $5 now! |
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pkli899
Supreme |
11-Nov-2024 14:44
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Ya, he said 3 - 5 Bn which I think is conservative. Someone mentioned 6 Bn after used up 3 Bn for buy back. And not forgetting the continuous accumulation of yearly retention of 50% net profit. After buy back, the total shares will left 2.7 Bn. So, per unit get more dividend. |
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huattuatua
Elite |
11-Nov-2024 11:49
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this is the link to what the ceo said: https://www.theedgesingapore.com/news/banking-finance/dbs-shares-jump-69-3qfy2024-earnings-beat-3-bil-share-buyback-news
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huattuatua
Elite |
11-Nov-2024 11:46
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i think he did say that there will be excess cap to be returned to shareholders to the tune of 3B to 5b, say 4.5b to be spread over the next 3 years, 1 yr will be 1.5b based upon 2.8B shares, that will be 1.5/2.8 B ie 53 cts per annum, and 13 cts per qtr so are we expecting from fy 25 onwards, we are looking at (54+13) 67cts div per qtr stand corrected
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Joelton
Supreme |
11-Nov-2024 11:24
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DBS
As outlined above, DBS launched a new S$3 billion share buyback programme on Nov 7. Shares will be acquired on the open market and subsequently cancelled. The buybacks will also be executed at the discretion of management and will depend on market conditions.
This marks the first instance where repurchased DBS shares will be cancelled. The programme is in addition to regular buybacks for employee share plans. The last time DBS conducted a buyback for its employee share plans was in March 2020, at an average price of S$16.97.
Based on the DBS balance sheet as at September 2024, the programme will reduce the common equity tier 1 ratio by about 0.8 percentage points. The group highlighted that the initiative is part of a broader series of capital management strategies.
These strategies have included doubling the ordinary dividend over the past five years, occasional special dividends and a recent bonus issue. DBS has also reaffirmed its policy of paying ordinary dividends that are sustainable and increase with earnings.
DBS CEO Piyush Gupta highlighted that the buyback programme underscores the bank&rsquo s strong capital position and ongoing capital generation. DBS deputy CEO Tan Su Shan also said that the buyback programme broadens their approach to capital management, while a presentation from DBS chief financial officer Chng Sok Hui maintained that the buyback programme would provide a permanent lift to earnings per share in addition to raising return on equity
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MrBear12
Supreme |
11-Nov-2024 10:48
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Range 41.8 to 42.98.
Roughly balanced. |
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temp123
Senior |
11-Nov-2024 10:14
Yells: "." |
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Took some $$$ off at 42.8. Yay! | ||||
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pkli899
Supreme |
11-Nov-2024 10:09
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Wow, within 10 mins of opening, chiong to 42.98. Now pull back......it' s ok......otherwise over bought. |
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MrBear12
Supreme |
08-Nov-2024 19:19
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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As for satay, I have a story to tell how to handle its inflation. In the 1980s I ate satay at some hotel restaurant for about 1 dollar a stick. Now, I eat satay at hawker centre for 80 cents a stick. I save and invest the other 20 cents so that it becomes 4 dollars in 40 years' time.
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MrBear12
Supreme |
08-Nov-2024 19:02
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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How to beat inflation? Diversify. Mackerel Otak otak small stick used to cost only 10 cents in the 1980s, now it is 80 cents to a dollar. So I don' t buy otak stick anymore, I eat fresh salmon. Healthier... ...
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Joelton
Supreme |
08-Nov-2024 17:54
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DBS sees upside to 2025 profits under Trump administration
Singapore&rsquo s largest lender posts yet another record quarterly net profit of S$3 billion in Q3
DBS expects its pre-tax profits for 2025 will be around 2024 levels, but chief executive Piyush Gupta sees potential upsides to its income under a Donald Trump administration in the US.
&ldquo The general view is that the Trump regime is more inflationary. If that is the case, then the monetary policy may stay tighter than currently projected, which helps our net interest margins (NIMs),&rdquo Gupta said at a briefing for the lender&rsquo s third quarter results on Thursday (Nov 7).
Potentially higher interest rates should also benefit the repricing of DBS&rsquo fixed asset book.
Gupta noted that the lender is currently assuming &ldquo very minimal benefit&rdquo from fixed asset repricing as its current assets are already &ldquo relatively well-priced&rdquo .
&ldquo (But with) the way that the yield curves are moving in the last 24 to 48 hours, we might be able to replace that at better conditions than we originally assumed,&rdquo he said.
Furthermore, Gupta noted that the lender is beginning to see some reversal in the outflow of its current and savings accounts (Casa), which should boost net interest income if it can get &ldquo substantially more Casa back&rdquo .
Gupta warned that if higher rates and tariffs were to come through, this may impact overall growth, and hit DBS&rsquo balance sheet and loan growth.
Nevertheless, he noted that the bank has not forecasted very strong loan growth for next year &ndash in the mid-single digit range.
&ldquo In general, our sensitivity shows that we benefit more from the interest rate than we give up on the balance sheet &ndash when you put all of that together, the higher interest rate environment is generally better for DBS,&rdquo he said.
Net profit should be below 2024 levels, however, as the implementation of a 15 per cent global minimum tax will likely amount to around S$400 million for DBS, and put some drag on its bottom line.
Record Q3 results
Gupta was speaking against the backdrop of yet another set of record quarterly results at the bank.
On Thursday, DBS said its Q3 net profit rose 17 per cent on year to S$3.03 billion from S$2.59 billion, exceeding the S$2.76 billion average forecasted in a Bloomberg analyst poll.
Total income rose 11 per cent to S$5.8 billion from broad-based growth.
On the commercial book level, net interest income rose 3 per cent to S$3.8 billion due to balance sheet growth and a stable NIM at 2.83 per cent.
Net fee and commission income also rose 32 per cent to S$1.11 billion, while other non-interest income grew 4 per cent on the year to S$517 million. Both increases were attributed to higher contributions from wealth management.
&ldquo The strong wealth management performance was a highlight this quarter,&rdquo said DBS chief financial officer Chng Sok Hui.
In Q3, assets under management (AUM) reached a new high of S$401 billion, with net new money inflow from high net worth individuals of S$6 billion during the quarter.
Gupta said flows have been diversified, from North Asia, South-east Asia, the Middle East and Europe.
Clients also continued to put more money to work &ndash the percentage of investments across DBS&rsquo AUM is up to 56 per cent in the quarter, Gupta noted.
Meanwhile, markets trading income grew 99 per cent on the year to its highest level in 10 quarters at S$331 million, driven by foreign exchange, interest rates and equity derivatives.
On the group level, NIM stood at 2.11 per cent, down from 2.14 per cent a quarter ago, due to declines in its markets trading segment.
The lender had deployed into products with inherent accounting asymmetry &ndash these were accretive to non-interest income, but added funding cost in the interest line, Gupta noted.
As for asset quality, he said that the non-performing loan (NPL) ratio fell to 1 per cent from 1.1 per cent a quarter ago.
While DBS saw the formation of two new non-performing assets in China, it also had strong recoveries and repayments from three different categories in Q3.
These were recoveries from the oil and gas provisions that were made some years ago as well as in assets related to the money laundering case in Singapore.
DBS also managed to monetise or refinance some Hong Kong and China property assets that were classified as NPL earlier in the year.
Looking ahead, Gupta expects 2025&rsquo s cost-to-income ratio will be in the low 40 per cent range. He also has a &ldquo prudent&rdquo specific provisions target of 17 to 20 basis points, although he is not seeing signs of stress so far.
Commitment to returning capital
DBS declared an interim dividend of S$0.54 per share, up from S$0.48 per share in the same period a year earlier.
Its board also established a new S$3 billion share buyback programme, where the bank&rsquo s shares will be purchased in the open market and cancelled.
This marks the first time that repurchased shares will be cancelled. Buybacks will be carried out at the management&rsquo s discretion, subject to market conditions.
The programme is part of DBS&rsquo capital management initiatives, and should result in a &ldquo permanent lift&rdquo to earnings per share, and a higher return on equity.
Based on the bank&rsquo s balance sheet as at September 2024, the buyback should reduce its fully phased-in CET-1 ratio &ndash of 15.2 per cent &ndash by around 0.8 percentage point when completed.
Gupta noted that the lender &ldquo still (has) a lot of capital to return&rdquo . Post share buyback, he expects DBS will still have around S$3 to S$5 billion in capital to return.
&ldquo So we&rsquo re going to have to use all three engines, which are step-up dividends, special dividends, as well as buybacks to the extent that we can,&rdquo he said.
DBS deputy CEO and CEO designate Tan Su Shan affirmed that the lender will continue in its philosophy to pay out more to shareholders the more it earns.
&ldquo Our toolkit to return shareholder capital is being expanded. We have to be active in our capital management. We also have to be fairly on the ball, on where we see rates going,&rdquo she said.
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BinderyT
Elite |
08-Nov-2024 15:54
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Inflation. Satay used to cost 20 cents before covid. It' s 90 cents now.
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joe1991
Veteran |
08-Nov-2024 15:51
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Yup rich become richer....poor become poorer in penny
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tankoksee
Supreme |
08-Nov-2024 14:34
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x 0 Alert Admin |
$50 otw
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Fiat500
Veteran |
08-Nov-2024 13:41
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Already gone past 36 bucks..Shocking indeed! Must be the SBB.
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Fiat500
Veteran |
08-Nov-2024 09:42
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UOB's turn today to be in the limelight..It hit $35 n beyond on n off, impressive indeed. Now hopefully the younger brother OCBC will do the catching up. | ||||
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