The Business Times
business-time-50

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

google-preferred-sourceAdd BT as a preferred source
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

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More