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DBS
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Octavia
Elite |
28-Nov-2013 09:18
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Maybank-KE upgrades sector to OverWeight: DBS remains the popular pick Maybank-KE upgrades the Singapore banking sector to Overweight, with DBS as the house top pick. With short-term interest rates expected to bounce up as early by 2015, this could spark a new re-rating wave as early as 2H14, after several years of depression in net interest margins. The house projects 3M SIBOR to rise to 1.0% by end-2015 and to 2.0% by end-2016 (currently 0.4%) and conclude that overall industry asset quality should remain resilient due to: 1) the majority of the loan growth came from traditionally safer housing loans and short-term US$ trade loans 2) strong household balance sheet 3) decent corporate balance sheet and 4) a growing economy DBS (Buy: TP $19.70) ranks highly given its position to benefit the most from higher interest rates given its strong deposit franchise and liquid balance sheet, while the on-going transformation at DBS should support a higher medium-term ROE profile. Also upgrade UOB (Buy: TP $23.40) on its resilient Asean market exposure which allows it to capture Asian consumer affluence, cheap P/E valuation, and management?s discipline in M& A?s suggests low risk of overpaying for Wing Hang . OCBC (Hold: TP $11.30) is the house least preferred bank, for its volatile earnings profile, and risk of overpaying for Wing Hang. Separately, we note that two foreign brokers had similarly reiterated their Buy calls on DBS this morning, citing the bank as its top pick Singapore banking pick, on grounds of the group?s ability to leverage off its stronger foothold in the private banking industry, its strong NIM outperformance and limited risky Asean exposure. | ||||
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Octavia
Elite |
12-Nov-2013 10:16
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DBS divests remaining 9.9% stake in The Bank of the Philippine Islands BPI to GIC Pte Ltd and Ayala Corporation, for an aggregate consideration of $850m (Php29.6b) in cash. This follows its partial divestment in Oct 2012, and is in line with DBS? focus on its core markets of Singapore, Hong Kong, China, Taiwan, India and Indonesia. The sale price represents 2.93x on its net book value per BPI share of PHP28.67 as at 30 Jun 2013, and a discount of approximately 10.5% to the closing price per BPI share on 8 Nov. The transaction will realise a net gain of approximately $447m over the carrying value of the investment, which translates to $0.183 per DBS share. | ||||
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Cheers
Member |
07-Nov-2013 09:45
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Trading central :
DBS is Its selection of the day TG:17.40 n 17.9 http://repository.shareinvestor.com/rpt_view.pl/id/3427421.20131106.dbs2013116101926.gif/type/trading_central |
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Octavia
Elite |
07-Nov-2013 09:09
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DBS Group Holdings (DBSH) on Thursday tendered to buy back up to S$800 million of its existing S$1.7 billion 4.70 per cent non-cumulative non-convertible non-voting class N preference shares callable in 2020. " DBSH is proposing to accept tenders amounting to S$800,000,000 in liquidation preference of Existing Preference Shares, or a lower or greater aggregate amount at DBSH's discretion,'' the bank said. In exchange, the bank will offer the holder whose existing preference shares are accepted Singapore Dollar denominated non-cumulative non-convertible perpetual capital securities first callable in 2019. They will have an initial distribution rate of between 4.70 per cent and 4.90 per cent per annum in a principal amount equal to the liquidation preference of the existing preference shares that are accepted for purchase. |
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Cheers
Member |
06-Nov-2013 13:10
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Shareinvestment: 6/11/13 Southeast Asia?s biggest bank DBS posted 3Q13 net earnings of $862 million which were slightly better than market expectations. Net interest income touched a new high of $1.4 billion while loans grew by 19 percent to $242 billion as of September 2013.
The positive uptrend for several growth units remained intact. However, DBS's CEO said the bank made the wrong bets on Fed tapering. CIMB estimates the amount of 'lost' profits because of its tapering bets stopped Q3 net profits coming in at around $933 million. DBS saw its cost/income ratio slip from 45 percent in the 2012 financial year to 43 percent for the first nine months of 2013. Despite the cautious outlook for the global economic, DBS management remain generally positive and expects its loans book to grow 8-10% in 2014. OCBC says DBS remains its top pick among the banks and keeps a fair value estimate of S$18.28. CIMB says it?s comfortable with its outperform rating on DBS. The average of brokers? target prices ($18.70) for DBS works out at a potential upside of 11 percent on the current share price. |
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Listing
Senior |
04-Nov-2013 15:47
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Good dividend depends on % not on absolute amount! Please elaborate why 0.56 is good in % terms when it's slightly over 3%?
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Cheers
Member |
04-Nov-2013 10:50
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DBS will never dip to 16.
4/11/13 DBS outperform: buy call target price: Cimb: 19.07.Maybank:20 It is Temasek- linked stock n gd DVD 0.56.😘 |
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valuebuyer
Member |
01-Nov-2013 13:51
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Just scan thru d report, most figures look positive, esp HK branch profit at 15% growth.
DBS biz is expanding in few aspect: 1) HK branch profit growth almost20% yearly, esp RFQ2 & RMB biz. 2)spore is gg to sign free trade agreemnt with Europe, the most benefit sector is finance product, DBS will benefit from it. 3)DBS just rank 14th biggest bank in Asia,last yr still out of 20th, this mean its biz is growing & expandin. This is put$take$$counter. Will collect more if it price dip to $16. |
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Cheers
Member |
01-Nov-2013 11:03
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Share prices jumps for 3 banks in 2013
DBS 13% Ocbc 7% Uob 5% |
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Octavia
Elite |
01-Nov-2013 08:41
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DBS posted a slight rise in quarterly net profit, managing to beat expectations despite a tough quarter for its treasury business.
Singapore-based DBS said it earned S$862 million (US$695 million) in the three months ended September, more than the S$828 million average forecast of six analysts polled by Reuters. The result compared with S$856 million a year earlier, but was the second consecutive quarterly fall in profit excluding one-off items. |
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valuebuyer
Member |
23-Oct-2013 09:51
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By year end TP $18 shd be no problem
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Octavia
Elite |
23-Oct-2013 09:46
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CLSA reckons 3Q13 results are likely underwhelming. NIMs are expected to be stable but slower loan growth, subdued non-interest income and bad debts are expected to weigh on the bottom line. OCBC?s headline numbers will look particularly weak on a y/y basis given the material gain in 3Q12. CS? order of preference is: UOB, OCBC, DBS. UOB (5th Nov) ? forecast 3Q13 NPAT of $634m (-3% y/y, - 13% q/q) on the back of exceptional gains in both 3Q12 and 2Q13. There will be gains in 3Q13. However, these are expected to be lower than previous periods. Recommendation: Buy, TP: $24.20 OCBC (1st Nov) ? forecast 3Q13 NPAT of $655m (-65% y/y, +4% q/q) as 2Q13 was particularly weak, while there was a $1.1bn gain in 3Q12. On an underlying basis, 3Q is expected to be down 10% y/y on subdued non-interest income and higher bad debts. Recommendation: Outperform, TP: $11.30 DBS (1st Nov) ? forecast 3Q13 NPAT of $847m (-1% y/y, -4% q/q) on slower loan growth momentum, smaller fees & commissions and lower trading income. 2Q13 was an exceptionally strong quarter for non-interest income. Recommendation: Underperform, TP: $18.5 |
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Octavia
Elite |
30-Sep-2013 09:52
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DBS has received ?a few thousand applications over the past five months? for its new POSB HDB loan. The loan now accounts for 25% of new bookings, and makes up for some of the slack in the private-home loan market. The majority of customers, over 80%, are refinancing from the HDB, or are first-time bank customers. Last year, two-thirds of the 59,000 HDB homebuyers took a loan from the HDB paying the 2.60% concessionary rate. It is this group that DBS hopes to target with its product that charges 1.75%. Those who took up a POSB HDB loan when it was launched in April could be looking at savings of as much as $1,600 by next month, a according to DBS? calculations. The first POSB HDB loan pilot launch - where homebuyers enjoyed a floating-rate loan with interest capped below the HDB concessionary rate for 10 years - was fully sold. The bank is now into its second offering, which charges the same rate but for eight years. DBS has the highest HDB loan market share at 30% of new loans. Its HDB loan portfolio is almost $10b, or about up 25 per cent of the bank's Singapore mortgage book. | ||||
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donperry
Member |
16-Sep-2013 16:01
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very modest gain for DBS judging from STI rise today, is stock still ripe for picking???? | ||||
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Cheers
Member |
10-Sep-2013 22:47
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10 Sept 2013
Here's the complete list of the World's Top 10 Safest Commercial Banks: 1 Rabobank - Netherlands 2 TD Bank Group - Canada 3 DBS Bank - Singapore 4 Oversea-Chinese Banking Corp - Singapore 5 United Overseas Bank - Singapore 6 Royal Bank of Canada - Canada 7 National Australia Bank - Australia 8 Commonwealth Bank of Australia - Australia 9 Westpac - Australia 10 ANZ Group - Australia Winners were selected through an evaluation of long-term credit ratings?from Moody?s, Standard & Poor?s and Fitch?and total assets of the 500 largest banks worldwide, said Global Finance in a release. The full World?s Safest Banks report evaluates the safest banks in Western Europe, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia. ?Despite not enjoying government support, these banks are among the strongest and most secure institutions in the world,? notes Joseph Giarraputo, publisher of Global Finance. The detailed report findings are to be published exclusively in Global Finance magazine's October 2013 issue. |
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Cheers
Member |
02-Sep-2013 08:22
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DBS cash revenue, volume n earnings result is always better than
Uob n ocbc. Ocbc move slower n its non earning income is from great eastern. Great eastern recent quarter is below estimate. |
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Cheers
Member |
20-Aug-2013 10:29
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[Trading Central] DBS Group Holdings: further advance.
19 Aug 2013 Update on supports and resistances. Short Term View (Rise, Limited Rise, Consolidation, Limited Decline, Decline) Limited Rise Change In Short Term View None Medium Term View (Bullish, Range, Bearish) Bullish Change In Medium Term View None Pivot: 16.2 Our preference: Long positions above 16.2 with targets @ 17.9 & 18.7 in extension. Alternative scenario: Below 16.2 look for further downside with 15.2 & 14.3 as targets. Comment: the immediate trend remains up and the momentum is strong. Key levels 19.6 18.7 17.9 16.98 last 16.2 15.2 14.3 |
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Rosesyrup
Veteran |
12-Aug-2013 20:43
Yells: "Get your own opinion, don't follow blindly." |
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Here's what boosted Singapore's impressive GDP in 2Q'Modest improvements' seen in other segments. According to Bank of America Merrill Lynch, Singapore's GDP growth came in at +3.8% in 2Q, above expectations and earlier flash estimate of +3.7%. Higher reading came from stronger services (+5.5% vs. +5% flash estimate), despite softer manufacturing (+0.2% vs. +1.1% flash) and construction (+5.1% vs. +5.6% flash). On a quarter-on-quarter seasonally adjusted annualized basis, GDP expanded a sharp +15.5% from the first quarter. Growth was led by services, in particular financial services (+13.1% in 2Q vs. +10.6% in 1Q), wholesale & retail services (+5.6% vs. +0.2% in 1Q). A sharp turnaround was seen in transport & storage (+2.5% vs. -0.9% in 1Q). Other services components also showed modest improvements, including business services (+3.7%), info-com (+3.5%), hotels & restaurants (+3.2%) and ?other services? (+1.7%). Visitor arrivals remained healthy, supporting the tourismrelated segments. SOURCE: YAHOO FINANCE LINK: http://sg.finance.yahoo.com/news/heres-boosted-singapores-impressive-gdp-062800701.html |
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Octavia
Elite |
01-Aug-2013 09:24
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Not really surprising as a majority of the investors were already touting for the deal not to go through, with Bank Danamons share price dropping to a 14mth low yesterday. Most analysts are expecting muted response by the markets to the latest news, as most had already discounted the probability of the deal taking place.With the current volatile economic conditions in Indonesia, believe the market will be relieved that this proposed takeover has lapsed.Hence price trend higher today. | ||||
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gavinl
Elite |
01-Aug-2013 06:40
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Hi,
Just wanted to tell you that i really enjoyed your views on the last 2 days postings on dbs and sia etc. Good job so far.
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