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DBS posts 3% drop in Q4 profit to S$2.27b; full-year earnings hit record S$10.06b

The bank is proposing a higher dividend of S$0.54 per share and 1-for-10 bonus issue

Tan Nai Lun
Mia Pei

Tan Nai Lun &

Mia Pei

Published Wed, Feb 7, 2024 · 07:12 AM
    • Total income for the fourth quarter stands at S$5.01 billion, 9 per cent higher than the S$4.59 billion in the same period the year before.
    • Total income for the fourth quarter stands at S$5.01 billion, 9 per cent higher than the S$4.59 billion in the same period the year before. PHOTO: SHINTARO TAY, ST

    DBS reported net profit of S$2.27 billion for the fourth quarter ended December, 3 per cent lower than the S$2.34 billion recorded in the year-ago period.

    The net profit, which included one-off costs, missed a S$2.39 billion consensus forecast in a Bloomberg survey of two analysts.

    Excluding one-time items costs from the acquisition of Citigroup’s Taiwan consumer banking business and a S$100 million corporate social responsibility commitment to charitable causes, net profit would have been S$2.39 billion, up 2 per cent on year.

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