Brokers' take

DBS Group | Buy

Target price: S$17.30

Oct 31 price: S$14.99

RHB Research, Nov 1

Given the surge in 2016 provisions, we are projecting flattish provisions next year. Although we expect asset quality to deteriorate further with forecast NPL ratio of 1.8 per cent by end-2017 (Q316: 1.3 per cent), we are forecasting wider NIM of 1.82 per cent in 2017 (Q316: 1.77 per cent), on higher Sibor and SOR.

DBS' acquisition of ANZ's banking businesses in five markets would underpin growth at its wealth management busi…