Following up on an article published in September on my page, shares of the three listed banks rose at least 24%, with DBS rising 29%. In this article, we will cover DBS’ financial result, released on 10 February 2021 and look into the outlook given by the company. This article will guide you in deciding whether to hold on to your bank shares or sell them away.
DBS FY Result
Total Income was flat for FY20 as the gain of 12% in Non-Interest Income offset the decline of 6% in Net Interest Income. Profit before allowances was 2% higher than the previous year as expenses were 2% lower as general expenses such as travel, advertising and promotions were lower.