Brokers' take

DBS Group Holdings | Buy (maintained) April 11 close: S$26.93 Target price: S$29.60 RHB Research Institute, April 10

Home mortgage interest rates, which are pegged to fixed deposit rates or fixed deposit home rate (FHR), saw increases in January and March - the effect is significant as half of DBS' home mortgages are FHR-based.

We should see some net interest margin (NIM) widening in Q1 2019 arising from the January mortgage rate rise. The March mortgage rate rise will likely raise NIM from Q2.