DBS Group Holdings posted a 15% rise in earnings to $1.12 billion for the 2Q15 ended June.
This beats Bloomberg’s consensus earnings estimate of $1.057 billion as well as highest forecast of $1.11 billion from analysts polled.
Second-quarter net profit was 1% below the record earnings in the previous quarter.
In 2Q15, total income grew 16% to $2.69 billion as net interest income and fee income reached new quarterly highs, but partially offset by lower associate contributions from the divestment of the operating entities of Hwang Capital (Malaysia).
Net interest income rose 12% to $1.74 billion from an eight basis point increase in net interest margin to 1.75%.
Loan and deposit volumes were also higher.
Non-interest income increased 25% to $947 million.
Net fee income rose 16% to $582 million as contributions from most activities recorded double-digit percentage growth.
Stronger trading income resulted in a 44% increase in other non-interest income to $365 million.
Expenses rose 16% to $1.22 billion.
Allowances were 7% higher at $137 million as loan resolutions a year ago had resulted in specific allowance write-backs.
For the 1H15 ended June, DBS’s net profit hit a new high of $2.4 billion.
The board has declared a first-half dividend of 30 cents per share compared to 28 cents a year ago.
Based on liquidity requirements effective Jan 1, 2015 under the Basel framework, the group’s average liquidity coverage ratio during the second quarter was 131%, which was above the final regulatory minimum of 100% effective Jan 1, 2019.
The group has also met the net stable funding ratio requirement which will come into effect on 1 January 2018.
Capital remained healthy with the Common Equity Tier-1 ratio at 13.4%, Tier-1 ratio at 13.4% and the total capital adequacy ratio at 15.3%.
The leverage ratio of 7.3% was twice the minimum of 3% currently required by the Basel Committee.
DBS closed 2 cents higher at $21.40 on July 24.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
This beats Bloomberg’s consensus earnings estimate of $1.057 billion as well as highest forecast of $1.11 billion from analysts polled.
Second-quarter net profit was 1% below the record earnings in the previous quarter.
In 2Q15, total income grew 16% to $2.69 billion as net interest income and fee income reached new quarterly highs, but partially offset by lower associate contributions from the divestment of the operating entities of Hwang Capital (Malaysia).
Net interest income rose 12% to $1.74 billion from an eight basis point increase in net interest margin to 1.75%.
Loan and deposit volumes were also higher.
Non-interest income increased 25% to $947 million.
Net fee income rose 16% to $582 million as contributions from most activities recorded double-digit percentage growth.
Stronger trading income resulted in a 44% increase in other non-interest income to $365 million.
Expenses rose 16% to $1.22 billion.
Allowances were 7% higher at $137 million as loan resolutions a year ago had resulted in specific allowance write-backs.
For the 1H15 ended June, DBS’s net profit hit a new high of $2.4 billion.
The board has declared a first-half dividend of 30 cents per share compared to 28 cents a year ago.
Based on liquidity requirements effective Jan 1, 2015 under the Basel framework, the group’s average liquidity coverage ratio during the second quarter was 131%, which was above the final regulatory minimum of 100% effective Jan 1, 2019.
The group has also met the net stable funding ratio requirement which will come into effect on 1 January 2018.
Capital remained healthy with the Common Equity Tier-1 ratio at 13.4%, Tier-1 ratio at 13.4% and the total capital adequacy ratio at 15.3%.
The leverage ratio of 7.3% was twice the minimum of 3% currently required by the Basel Committee.
DBS closed 2 cents higher at $21.40 on July 24.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment