Shares & Derivatives
DBS Reports a Record S$2 Billion Net Profit: 5 Highlights from Its Latest Quarterly Earnings
By The Smart Investor  •  April 30, 2021
It wasn’t too long ago when DBS Group Holdings Ltd (SGX: D05) reported its full-year 2020 earnings. Investors were faced with ballooning provisions and compressed net interest margins as the lender navigated one of the worst pandemics in a century. That said, CEO Piyush Gupta did sound a note of optimism in early February when he stated that economic data back then supported a strong economic rebound for 2021. Fast forward to today, and DBS has announced a blowout set of earnings for its fiscal 2021’s first quarter (1Q2021). Its net profit surged by 72% year on year to S$2 billion, achieving a first in the bank’s history. Earnings estimates for DBS’ net profit hovered at S$1.44 billion, implying that DBS has handily beaten these forecasts. Here are five other interesting facts about the bank’s latest earnings that investors should know about. 1. Record-high fee income Net interest income (NII) ...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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