DBS was the first bank to release its results 2 weeks ago and it reported a blowout result where its quarterly net profit crossed $2 billion for the first time despite revenue declining 4% YoY. Many investors wonder whether there is still room for capital appreciation as its shares are up 17% YTD. In this article, we will cover DBS‘ financial result released on 30 April 2021 and look into the outlook given by the company and the growth prospect of the bank. This article will guide you in deciding whether to hold, sell or initiate a new position in DBS.
DBS Q121 Result
Net Interest Income of $2.1 billion was 15% lower compared to a year ago as there was a decline of 37 bp in Net Interest Margin due to global interest rate cuts. This was partially offset by loan growth of 7% and Net Interest Income would have grown 9% if NIM were stable....