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Short to enjoy...
LOL CEO words ...seem like LVB ( LV bag haha ) could be a good growth driver . $3B provision ....wow envy of many banks .
&ldquo Our record operating performance in one of the most challenging periods on record attests to the quality of our franchise and nimble execution. Business momentum was sustained in the fourth quarter and our pipeline for loans and fee income is healthy,&rdquo says DBS CEO Piyush Gupta.
&ldquo We have been proactive through the crisis and enter the year with new growth platforms. Lakshmi Vilas Bank in India and the securities joint venture in China will enhance our presence in both key markets," he says.
" Initiatives such as the Digital Exchange, supply chain digitalisation and efforts to broaden wealth management to the mass market will reinforce our leadership in digital finance. These platforms will strengthen our ability to continue supporting customers and delivering shareholder returns,&rdquo he adds.
&ldquo Our record operating performance in one of the most challenging periods on record attests to the quality of our franchise and nimble execution. Business momentum was sustained in the fourth quarter and our pipeline for loans and fee income is healthy,&rdquo says DBS CEO Piyush Gupta.
&ldquo We have been proactive through the crisis and enter the year with new growth platforms. Lakshmi Vilas Bank in India and the securities joint venture in China will enhance our presence in both key markets," he says.
" Initiatives such as the Digital Exchange, supply chain digitalisation and efforts to broaden wealth management to the mass market will reinforce our leadership in digital finance. These platforms will strengthen our ability to continue supporting customers and delivering shareholder returns,&rdquo he adds.
Short to enjoy...
Continued to fortify our balance sheet despite improving macro conditions
- Increased allowances by $577m, taking full year to $3.1bn
- GP reserves in excess of regulatory requirements
- Conservative stance on SP for existing NPA
- LVB asset quality risks decisively dealt with
Business Outlook
▪ Latest economic data support strong economic rebound for 2021
▪ Strong January performance provides head start to year
- Higher income yoy despite full impact of post-Covid NIM pressure
- Treasury Markets income up significantly
- Fee income up from high year-ago base from broad-based improvements
- Strong loan and deposit growth momentum
I am looking forward for DBS to return to $28 by this year DYODD
- Increased allowances by $577m, taking full year to $3.1bn
- GP reserves in excess of regulatory requirements
- Conservative stance on SP for existing NPA
- LVB asset quality risks decisively dealt with
Business Outlook
▪ Latest economic data support strong economic rebound for 2021
▪ Strong January performance provides head start to year
- Higher income yoy despite full impact of post-Covid NIM pressure
- Treasury Markets income up significantly
- Fee income up from high year-ago base from broad-based improvements
- Strong loan and deposit growth momentum
I am looking forward for DBS to return to $28 by this year DYODD
DBS FULL-YEAR 2020 NET PROFIT AT SGD 4.72 BILLION,
OPERATING PROFIT BEFORE ALLOWANCES AT RECORD DESPITE HEADWINDS FROM COVID-19 AND LOWER RATES
* * * Fourth-quarter net profit at SGD 1.01 billion SINGAPORE, 10 February 2021 &ndash DBS Group reported net profit of SGD 4.72 billion for full-year 2020, 26% below the previous year&rsquo s record. Total allowances more than quadrupled to SGD 3.07 billion as general allowances of SGD 1.71 billion were conservatively set aside for potential risks arising from the pandemic. Profit before allowances rose 2% to a new high of SGD 8.43 billion. Total income was stable at SGD 14.6 billion despite the economic disruption caused by the pandemic. Net interest income fell 6% as a 27 basis point fall in net interest margin was partially offset by constant currency loan growth of 4%. Fee income was stable while other non-interest income rose 32% as gains from investment securities tripled. Expenses declined 2% to SGD 6.16 billion as costs were kept in check
imho , this is a great set of result under pandemic situation ......Profit could be $2B a quarter if not for the allowances.
CEO has put it as conservatively ....its SUPER conservative for such large allowances. Dividend maintained at 18c per qtr.
I would be very surprise what this could be use for come end 2021 . DYODD
Happy investing.
OPERATING PROFIT BEFORE ALLOWANCES AT RECORD DESPITE HEADWINDS FROM COVID-19 AND LOWER RATES
* * * Fourth-quarter net profit at SGD 1.01 billion SINGAPORE, 10 February 2021 &ndash DBS Group reported net profit of SGD 4.72 billion for full-year 2020, 26% below the previous year&rsquo s record. Total allowances more than quadrupled to SGD 3.07 billion as general allowances of SGD 1.71 billion were conservatively set aside for potential risks arising from the pandemic. Profit before allowances rose 2% to a new high of SGD 8.43 billion. Total income was stable at SGD 14.6 billion despite the economic disruption caused by the pandemic. Net interest income fell 6% as a 27 basis point fall in net interest margin was partially offset by constant currency loan growth of 4%. Fee income was stable while other non-interest income rose 32% as gains from investment securities tripled. Expenses declined 2% to SGD 6.16 billion as costs were kept in check
imho , this is a great set of result under pandemic situation ......Profit could be $2B a quarter if not for the allowances.
CEO has put it as conservatively ....its SUPER conservative for such large allowances. Dividend maintained at 18c per qtr.
I would be very surprise what this could be use for come end 2021 . DYODD
Happy investing.
Good luck for those who never sell... short to enjoy...
TMR will very interesting ......patiently awaiting .
On closed ......large volume are auction for all 3 banks .....UOB and DBS are even push up well ( esp UOB )
Tell will tell ....SG should see a much better QnQ ....esp w equity growth, better loan then Q3, and large provision set last year. and wealth mgt fees
Good luck all bank supporters.
On closed ......large volume are auction for all 3 banks .....UOB and DBS are even push up well ( esp UOB )
Tell will tell ....SG should see a much better QnQ ....esp w equity growth, better loan then Q3, and large provision set last year. and wealth mgt fees
Good luck all bank supporters.
Tmr? More bloody.... short to enjoy...
No worries.....sure some profit taking from weak holders and traders ....TMR morning we shall see how DBS perform and the leader will advise
its dividend .....
Good luck to all
its dividend .....
Good luck to all
Isolator ( Date: 08-Feb-2021 16:18) Posted:
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Run for your life... lol
Can't short now but can take profit.
害 人 终 害 己 
Isolator ( Date: 08-Feb-2021 15:01) Posted:
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feb will be a good month for the 3 banks.
FATABA ( Date: 08-Feb-2021 14:50) Posted:
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Red Sea soon..... short...
Congratulations to all banks supporter ......BIG BIG rise
DBS up 85c, UOB 40c and OCBC 13c ......HUAT HUAT HUAT
DBS up 85c, UOB 40c and OCBC 13c ......HUAT HUAT HUAT
FATABA ( Date: 08-Feb-2021 13:19) Posted:
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Short....
Wow DBS on mad rush .....$2 more then UOB again .