Others   

3 BIG Spore banks ....:))

Highly Conservative tp.

Looks more like they want to sell at those tps which ended up as their stop loss prices

 

LOL Phillip is known to offer lower TP for banks .....other have TP of over $50 so far.  Time will tell . 
Happy investing.

DBS Group Holdings Ltd &ndash Capital returns begin

Recommendation: ACCUMULATE TP S$46.90 Last close: S$44.8500 Analyst Glenn Thum

• 4Q24 adjusted PATMI of S$2.6bn was in line with our estimates, FY24 adjusted PATMI is 100% of our FY24e forecast. 4Q24 DPS rose 22% YoY to 60 cents and full-year FY24 DPS at S$2.22 (+27% YoY). An additional capital return dividend of 15 cents/quarter is to be given in 2025. We expect the return to sustain over the next 3 years.
• NII rose 9% YoY from NIM rising by 2bps to 2.15% and loan growth of 3%. Non-interest income growth of 21% was led by WM fees and trading income. DBS has provided FY25e guidance for NII at 2024 levels and non-interest income growth of high-single-digit. PATMI will drop below 2024 levels from higher taxes.
• Upgrade to ACCUMULATE with a higher target price of S$46.90  (prev. S$41.60) as we roll over our valuations. We lower FY25e earnings by ~2% from lower non-interest income and higher expenses and provisions. We assume a 1.88x FY25e P/BV and ROE estimate of 17.5% in our GGM valuation (prev. 18.3%). We expect non-interest income to be the main growth driver, as heightened volatility will benefit trading income and continued WM growth from the shift in investor sentiment and AUM inflows. However, higher expenses and provisions and the global minimum tax would hurt PATMI in FY25. The capital return initiative (24 cents annual DPS increase, 15 cents capital return dividend per quarter, and S$3bn share buyback) and a 6.7% dividend yield (including 15cents capital return dividend) are very attractive.

 

HAHA a good retirement fund ....

Just to add, this 75c is for 2025 there is nothing stopping DBS to continue to grow its income.  Hitting $15B nett income is very possible
in 3 years. SO this payout will change too . ( estimate 50% payout ratio ) 
So the 60 portion is variable ( or could be some annual special bonus etc as stated for 2026/7) 
Happy investing. 

MrBear12      ( Date: 10-Feb-2025 17:05) Posted: To spread out the capital distributions is a smart move. Keeps institutional investors vested as the dividend payout is gonna be steady with potential for growth. Must hand it to this batch of directors. They know how to attract the bear to the honey. I' m hooked onto DBS for life, well, almost... ...

 

To spread out the capital distributions is a smart move. Keeps institutional investors vested as the dividend payout is gonna be steady with potential for growth. Must hand it to this batch of directors. They know how to attract the bear to the honey.

I' m hooked onto DBS for life, well, almost... ...

 

Shareholders
o Quarterly ordinary dividend per share increase of 6 cents to 60 cents from 4Q, bringing annualised ordinary dividend per share going forward to $2.40
o Board committed to managing down excess capital over the coming three years
  Capital Return dividend of 15 cents per share per quarter planned for financial year 2025

I am a little surprise at the return of about a $1 gain from this morning to now .....it could be due to the following
1. SH who do not plan to hold and traders....take quick profit ...as the payout is far into APril 
2. Expectation of a bonus dividend is gone .....actually this is great as it makes DBS less volatile .....serious investor which for dividend payout enjoys this over
the next 4 qtr ( 15x4 which is what  mentioned as 60c bonus for 2025 ...rather to let traders cpitalise on this and see DBS falling after XD) 
3. Over the longer term * next 2/3 yrs ......EVEN which I doubt , at current profit ...dbs is giving a great yield of 6% assume at $50 which solid blue chip can offer this . DYODD
4. Further current CEO is really leaving a lot of room for the new CEO to show.  I doubt DBS will stop here....ROE 10%, SBB $3B plus share cancellation >  
China and India investment ...large AUM etc. 
Happy investing. Vested 
 

 

DBS not only awarding SH, it is truely a great Singapore ICON ( thanks to CEO over all these years) ....it is also giving back to the community and rewarding
employees.   

Community
o Another contribution of $100 million as part of ten-year $1 billion commitment to support vulnerable segments
Employees
  Special one-time bonus of SGD 1,0001 each to be paid to all staff except senior managers as additional reward for contribution to record performance 

 

DBS&rsquo 4Q2024 adjusted earnings of S$2.52bn were in line with our estimates, with FY24 adjusted earnings at 100% of our FY24e forecast. 4Q24 DPS raised 22% YoY to 60 cents, full-year FY24 dividends at S$2.22 (+27% YoY). Highlights include higher net interest income of S$3.73bn (+9% YoY) as net interest margin rose to 2.15% (+2bps YoY). Fee income rose 12% YoY from continued growth in wealth management and cards fees. Credit costs rose by 9bps YoY to 20bps as SPs rose 65% YoY to S$229mn. DBS has provided FY25e guidance of PATMI growth to dip YoY due to higher taxes, PBT to be flat YoY, NII slightly higher YoY based on two rate cuts in 2H25, high single digit growth in commercial book non-interest income, cost-to-income ratio around the low-40% range and credit cost at around 17-20bps with potential for GP writebacks. Additionally, DBS will be returning additional capital in the form of 15cents dividends per quarter in 2025, with quarterly ordinary dividends at 60cents, bringing FY25 dividends to S$3.00 (+35% YoY).

 

DBS is DBS ....another set of excellent result ( please reas SGX web....ROE 18% wow) 

Note dividend is 60x4 $2.40 PLUS yes PLUS a capital reduction dividend of 15c PER QTR for next year and moving forward same amt of CRD, 
WHICH IS $3 dividend.....what do you think dbs is worth then ?? 

Happy investing HUAT HUAT HUAT 

 

But alas, , US market sold off. SG is bound to follow suit. Short sellers, watch your front... ... Defenders of DBS, on guard!!

MrBear12      ( Date: 07-Feb-2025 19:43) Posted: A good show on the US markets tonite will propel dbs stock price next Monday. 46 dollars is quite possible on Monday.

 

A good show on the US markets tonite will propel dbs stock price next Monday. 46 dollars is quite possible on Monday.

 

On 2nd thought, while is alarming to see huge sell off at auction, but is also a blessing to see same huge buy up at price $44.68, higher than yesterday closing at $44.32.


The 3Q24 S$3 billion SBB announced, which usually should be announced on March 25 AGM but was done ahead. 
Personally feel that since current CEO is out going from 28 March 25, the decision to announce SBB ahead might be reasonable to avoid any positive or negative impact toward the incoming CEO, sending  any wrong signal on her 1st day of appointment on such considerable huge decision that is carried forward from many years of results under the current management. Just a thought.


Therefore hopefully we can really see FY24 goodies on this Monday, instead of just the SBB. 


DYODD.


Let rest well first on the weekend. 


Good night.

Login20      ( Date: 07-Feb-2025 17:53) Posted: Hi FATABA,  Great for the encouragement. However, today closing done with 734,400 shares auctioned at $44.68 is alarmng from last minutes of $44.75. Hope for the best for the result on Monday and goodies expected. Me too believe there will be goodies for this 4Q24 as net profit can easily reach S$8.79 billions plus S$2.5 billion, total S$11.29 billions, another record earnning for DBS. FATABA      ( Date: 07-Feb-2025 16:37) Posted: Finally the long awaited result of DBS ( kick off reporting ) will be on Monday morning.    UOB 19th N ocBC 26TH Feb.  First I guess DBS will up it qtrly dividend to 60c ( giving a total of 2.40 a year) and as for the bonus we WISH it is 60c for Spore anniversary ( LOL)  This would be a great push for STI as the other 2 banks will follow .  OCBC may or maybe better its 44c BUT I guess they will include a one time bonus  ( ??) Currently GE issue is outstanding still  UOB should be doing well w the fully integrated VISA   however its fee side might not be as broight as OCBC or DBS .  88c plus a bonus is possible /value?  I think the share BB would be a catalyst for UOB IF ( only IF) its result is as bright > Awaiting patiently  Happy investing.

 

Hi FATABA, 

Great for the encouragement.

However, today closing done with 734,400 shares auctioned at $44.68 is alarmng from last minutes of $44.75. Hope for the best for the result on Monday and goodies expected.

Me too believe there will be goodies for this 4Q24 as net profit can easily reach S$8.79 billions plus S$2.5 billion, total S$11.29 billions, another record earnning for DBS.

FATABA      ( Date: 07-Feb-2025 16:37) Posted: Finally the long awaited result of DBS ( kick off reporting ) will be on Monday morning.    UOB 19th N ocBC 26TH Feb.  First I guess DBS will up it qtrly dividend to 60c ( giving a total of 2.40 a year) and as for the bonus we WISH it is 60c for Spore anniversary ( LOL)  This would be a great push for STI as the other 2 banks will follow .  OCBC may or maybe better its 44c BUT I guess they will include a one time bonus  ( ??) Currently GE issue is outstanding still  UOB should be doing well w the fully integrated VISA   however its fee side might not be as broight as OCBC or DBS .  88c plus a bonus is possible /value?  I think the share BB would be a catalyst for UOB IF ( only IF) its result is as bright > Awaiting patiently  Happy investing.

 

Finally the long awaited result of DBS ( kick off reporting ) will be on Monday morning.   
UOB 19th N ocBC 26TH Feb. 

First I guess DBS will up it qtrly dividend to 60c ( giving a total of 2.40 a year) and as for the bonus we WISH it is 60c for Spore anniversary ( LOL) 
This would be a great push for STI as the other 2 banks will follow . 

OCBC may or maybe better its 44c BUT I guess they will include a one time bonus  ( ??) Currently GE issue is outstanding still 
UOB should be doing well w the fully integrated VISA   however its fee side might not be as broight as OCBC or DBS . 
88c plus a bonus is possible /value?  I think the share BB would be a catalyst for UOB IF ( only IF) its result is as bright >

Awaiting patiently 
Happy investing.

 

Ya, 5 more FULL trading days to the result . 
Happy investing..

Echoes      ( Date: 31-Jan-2025 09:50) Posted: Looks like a good start to the year of the Snake .  All 3 boys at or nearing ATHs .

 

Looks like a good start to the year of the Snake . 

All 3 boys at or nearing ATHs . 

 

Happy Chinese New year , wishing everyone a healthy and properous year ahead

ALL 3 banks are still doing well before the coming result in Feb ....w DBS kicking off on the 10th Feb Monday 
( if DBS is good , which is expected then the other banks and the whole STI will be push up ) ..just mmy guess 
60cX4 and a one time bonus of 60c ( most will be very happy ) ....haha
Huat HUAT HUAT . 
Happy investing 

 

Announcement DBS INCREASES STAKE IN SHENZHEN RURAL COMMERCIAL BANK DBS Group Holdings Ltd (&ldquo DBSH&rdquo , the &ldquo Group&rdquo ) wishes to announce that its wholly-owned subsidiary, DBS Bank Ltd (&ldquo DBS&rdquo ), has acquired an additional stake in Shenzhen Rural Commercial Bank Corporation Limited (&ldquo SRCB&rdquo ), increasing its stake from 16.69% to 19.40%. The investment is in line with the Group&rsquo s strategy to invest in its core markets and expand its exposure to the Greater Bay Area. DBS first acquired a 13% stake in SRCB in October 2021 and increased its investment to 16.69% in January 2024. On 8 November 2024, DBS entered into agreements with Shenzhen Shekou Dawah Real Estates Development Co., Ltd and Shenzhen Shekou China Merchants Harbour Engineering Co., Ltd to acquire their combined 2.71% stake in SRCB (the &ldquo Transaction&rdquo ). Pursuant to the Transaction, DBS acquired 281.6 million SRCB shares at CNY 5.67 per share. This is equivalent to 1.05 times of the SRCB&rsquo s 3Q2024 book value per share and the total consideration is CNY 1,596 million (SGD 295 million1 ). The Transaction is funded using internal cash resources and was arrived at on a willing-buyer, willing seller basis, taking into account, among others, the book value of SRCB. The Transaction has a less than 0.1 percentage points impact to the consolidated capital ratios of DBSH and its subsidiaries and is expected to be immediately accretive to earnings and Return on Equity. 

going towards 20% ....

 

Lol you are not wrong .....it is just a matter of which pocket they wish .....as long as  they OWNED the pockets. 
Time will tell. 

Echoes      ( Date: 09-Jan-2025 10:09) Posted: GE not in pocket yet .  OCBC did not manage to secure 90% of shares they do not own , which will trigger a compulsary aquisition .  Neither did OCBC secure 70% of shares they do not own , which will compel them to make an exit offer .  As it stands now , under SGX rules , GE will need to restore the float and  relist the counter . GE has asked for time extension till end Jan if I remembered correctly , and SGX has agreed .  Anyway , the way I look at it , with OCBC owning 93% of GE now , its not much difference with owning 100% .  Lets see how this will eventually pan out . FATABA      ( Date: 09-Jan-2025 09:17) Posted: OCBC is staying strong ( w GE in her pocket now ....and up to them to decide)  DBS might challenge its ATH again soooon . LOL  Happy investing.

 

GE not in pocket yet . 
OCBC did not manage to secure 90% of shares they do not own , which will trigger a compulsary aquisition . 
Neither did OCBC secure 70% of shares they do not own , which will compel them to make an exit offer . 

As it stands now , under SGX rules , GE will need to restore the float and  relist the counter . GE has asked for time extension till end Jan if I remembered correctly , and SGX has agreed . 

Anyway , the way I look at it , with OCBC owning 93% of GE now , its not much difference with owning 100% . 

Lets see how this will eventually pan out .

FATABA      ( Date: 09-Jan-2025 09:17) Posted: OCBC is staying strong ( w GE in her pocket now ....and up to them to decide)  DBS might challenge its ATH again soooon . LOL  Happy investing.  MrBear12      ( Date: 09-Jan-2025 01:44) Posted: Markets expect another bank bumper year for 2025. Mrbear expects record profits again for this FY. So many are stocking up in anticipation of much higher profits this year as SE Asia economy grows steadily

 

OCBC is staying strong ( w GE in her pocket now ....and up to them to decide) 
DBS might challenge its ATH again soooon . LOL 
Happy investing. 

MrBear12      ( Date: 09-Jan-2025 01:44) Posted: Markets expect another bank bumper year for 2025. Mrbear expects record profits again for this FY. So many are stocking up in anticipation of much higher profits this year as SE Asia economy grows steadily RL16EGG      ( Date: 08-Jan-2025 16:18) Posted: I hope the 3 banks rally as high as possible till trump shouts his tariffs. Should be more than earnings that drive the banks up today. It looks like the analysts need to revise their price targets again lol. Anyway, I expect correction will come this fri or next fri. Lets enjoy the ride. The way DBS has been flying, may be it will hit $60 on the 8th of aug  for SG60 lol. Pls take it as a joke. DBS shares reach S$45 for the first time