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DBS sees upside to 2025 profits under Trump administration

Singapore’s largest lender posts yet another record quarterly net profit of S$3 billion in Q3

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Tan Nai Lun

Tan Nai Lun

Published Thu, Nov 7, 2024 · 02:04 PM
    • DBS' Q3 net profit rose 17 per cent on year to S$3.03 billion from S$2.59 billion, exceeding a forecast of S$2.76 billion.
    • DBS' Q3 net profit rose 17 per cent on year to S$3.03 billion from S$2.59 billion, exceeding a forecast of S$2.76 billion. PHOTO: BLOOMBERG

    DBS expects its pre-tax profits for 2025 to be around 2024 levels, but chief executive Piyush Gupta sees potential upsides to its income under a Donald Trump administration in the US.

    “The general view is that the Trump regime is more inflationary. If that is the case, then the monetary policy may stay tighter than currently projected, which helps our net interest margins (NIMs),” Gupta said at a briefing for the lender’s third-quarter results on Thursday (Nov 7).

    Potentially higher interest rates should also benefit the repricing of DBS’ fixed asset book.

    DBSFinancial resultsSingapore banksShare buybacksInterest rates

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