Brokers' take
DBS Group Holdings | Hold Target price: S$22.50 Aug 7 close: S$21.15 Jefferies Singapore, Aug 7
Q2 earnings grew 8 per cent YoY (year on year) underpinned by broad-based loan growth and fee income. It was partly offset by flat margins from lower Singdollar interbank rates and weaker trading performance. Asset quality guidance is for continued weakness. Cost discipline is unchanged. Dividend is up 10 per cent on the back of consistent financial performance and strong capital position (common equity tier 1 14 per cent), though payout ratio run rate remains below 4…
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