<\/p>\n
Dividend is SGD 54 cents per share for the quarter.<\/p>\n
DBS Group\u2019s net profit for the first three months of 2024 rose by 15% to S$2.96b compared to a year ago on the back of higher return on equity and a record-high income.<\/p>\n
Total income grew 13% to S$5.56b, whilst net interest margin was stable at 2.14%. Return on equity was 19.4% for the quarter.<\/p>\n
Compared to Q4 2023, net profit rose 24%, and total income grew 11% from record fee income and treasury customer sales. Expenses are also 6% lower.<\/p>\n
A dividend of SGD 54 cents per share for Q1 has been declared, over the enlarged post-bonus share base.<\/p>\n
Fee income notably crossed S$1b for the first time in a Q1 period, with commercial book net fee income rising by 20% to a record S$1.04b compared to Q4 2024.<\/p>\n
The continuous rise of wealth management also contributed to quarterly growth. Fees from wealth management services grew 45% to S$536m, which DBS attributed to the continued strengthening of market sentiment and from seasonal factors.<\/p>\n
Loan-related fees also rose by 30% to S$185m, whilst transaction services fees edged up 6% to S$231m.<\/p>\n
However, these increases were moderated by a 38% decline in investment banking fees due to slower capital market activities and by a 3% decline in card fees from seasonal factors, DBS said.<\/p>\n
Compared to Q1 2023, net fee income is 23% higher, led by a 47% increase in wealth management fees.<\/p>\n
Net interest margin rose eight basis points from higher interest rates in Q1 compared to a year ago.<\/p>\n
Markets trading income declined 9% from higher funding costs.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Dividend is SGD 54 cents per share for the quarter. DBS Group\u2019s net profit for the first three months of 2024 rose by 15% to S$2.96b compared to a year ago on the back of higher return on equity and a record-high income. Total income grew 13% to S$5.56b, whilst net interest margin was stable […]<\/p>\n","protected":false},"author":1,"featured_media":1532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/DBS-56-800x445.jpeg",800,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/DBS-56-463x348.jpeg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/DBS-56-300x169.jpeg",300,169,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/DBS-56.jpeg",800,450,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=1531"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1531\/revisions"}],"predecessor-version":[{"id":1533,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1531\/revisions\/1533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/1532"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=1531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=1531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=1531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}