DBS Group Holdings ( (DBSDF) ) has released its Q3 earnings. Here is a breakdown of the information DBS Group Holdings presented to its investors.
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DBS Group Holdings Ltd is a leading financial services group in Asia, headquartered in Singapore, offering a wide range of banking services, including consumer banking, wealth management, and investment banking.
DBS Group Holdings has reported a record-breaking net profit of SGD 3.03 billion in the third quarter of 2024, marking a 15% increase year-on-year. This significant growth was driven by a robust balance sheet, increased fee income from wealth management, and strong markets trading income.
The bank’s net interest income rose by 3% to SGD 3.80 billion, contributing to a total income increase of 11% to SGD 5.75 billion. The asset quality remained strong, with a decline in non-performing loans to a ratio of 1.0%. Furthermore, the Board of Directors declared an interim dividend of 54 cents per share and announced a new SGD 3 billion share buyback program.
DBS maintained a solid capital position with a Common Equity Tier-1 ratio of 17.2%. This financial strength supports the bank’s initiatives, including the share buyback program, which aligns with their commitment to capital management.
Looking ahead, DBS remains confident in its ability to deliver sustainable shareholder returns, supported by its strong capital foundation and continuous earnings generation.
