Connect with us


Singapore financial institution DBS Q3 2023 earnings: quarterly revenue beats forecast



Spread the love


DBS department in Hong Kong.

Budrul Chukrut | SOPA Photographs, LightRocket | Getty Photographs


Southeast Asia’s largest lender DBS Group reported a 17% bounce in third-quarter revenue on Monday, benefiting from a high-interest charge atmosphere.

Throughout the quarter, internet revenue rose to 2.63 billion Singaporean {dollars} ($1.94 billion) in comparison with SG$2.24 billion a 12 months in the past.


It was larger that analysts’ estimates compiled by LSEG, which predicted a quarterly revenue estimate of SG$2.5 billion for the July to September quarter.

The Singapore financial institution additionally declared a dividend of 48 Singapore cents for every unusual share for the third quarter.

Inventory Chart IconInventory chart icon
hide content

Shares of the corporate rose 0.75%.


Internet curiosity margin, a measure of lending profitability, was at 2.19% within the third quarter, larger than 1.90% throughout the identical interval a 12 months in the past.

“We achieved report revenue within the third quarter as internet curiosity margin continued to increase and development in industrial guide non-interest revenue was sustained,” mentioned Piyush Gupta, chief govt officer of DBS.


“As we enter the approaching 12 months, higher-for-longer rates of interest will likely be a internet profit to earnings, whereas our stable stability sheet with ample liquidity, prudent normal allowance reserves and wholesome capital ratios will present us with robust buffers in opposition to macro uncertainties,” Gupta added.

DBS, Singapore’s largest financial institution, was second to report among the many nation’s prime lenders.


Smaller rival United Overseas Bank posted a 1% drop in third-quarter net profit in October, lacking analysts’ expectations.

Oversea-Chinese language Banking Company is about to report quarterly outcomes on Nov. 10.

Click to comment

Leave a Reply

Your email address will not be published.