Hot stock: DBS shares open lower on Tuesday

SHARES of DBS opened 15 Singapore cents lower at S$19.3 on Tuesday from Monday's closing price of S$19.45.

They traded at a high of S$19.45 in the early morning before falling by 0.154 per cent or three Singapore cents to trade at S$19.42 at about 9.29am.

About 1.24 million shares changed hands.

DBS on Tuesday posted a fourth-quarter net profit of S$838 million (excluding one-time items), up 4 per cent from the previous year's S$802 million. Including one-time items, Q4 net profit fell by 14 per cent from S$973 million a year ago.

While the group notched up record full-year earnings of S$3.85 billion (excluding one-off items), it missed analysts' estimates due to higher bad debt provisions and lower trading income. Bad debt provisions rose 40 per cent to S$211 million, while trading income dropped 44 per cent with the bank attributing it to "less favourable trading conditions".

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes