- CEO Piyush Gupta opened the AGM by highlighting that DBS Group had achieved record total income, net profit, and return on equity (ROE).He mentioned that the achievement is not due to an increase in
At the last annual general meeting, DBS Group CEO Piyush Gupta predicted that interest rates would remain stable throughout 2023 and decrease starting in 2024. While the rate cut hasn’t materialised yet, recent developments seem to align with his forecast, suggesting a high possibility of it happening in 2024.
Investors are anticipating a potential interest rate cut this year and are concerned about the impact on bank stocks, particularly a decline in their net interest margin (NIM). This year, I attended the DBS Group AGM to gain insight into the management’s perspective on interest rates and the implementation of Basel 4, which could potentially free up more capital for DBS and allow for strategic capital allocation.
Here are seven things I learned from the 2024 DBS Group AGM.
