The Business Times
SUBSCRIBERS

Strong fees, more resiliency will boost earnings in 2024 despite rising uncertainty: DBS CEO 

Bank reports strong set of results in Q2 with net profit up 6% on year at S$2.79 billion

Tan Nai Lun

Tan Nai Lun

Published Wed, Aug 7, 2024 · 09:05 PM
    • Piyush Gupta expects DBS’ total income growth for this year to be a high single digit, even after factoring in rate cuts, based on the strong run it has had in the first half of the year.
    • Piyush Gupta expects DBS’ total income growth for this year to be a high single digit, even after factoring in rate cuts, based on the strong run it has had in the first half of the year. PHOTO: BLOOMBERG

    A STRONG fees business and lower sensitivity to interest rates will likely help support earnings growth at DBS in 2024, said chief executive Piyush Gupta.

    The bank also has strong buffers against economic slowdown, even as market volatility and geopolitical tensions have heightened uncertainty, he added.

    “It’s kind of hard to say how many rate cuts there will be, or what’s going to happen, but we have built resiliency against potential economic slowdown and lower interest rates,” Gupta said at the lender’s second-quarter results on Wednesday (Aug 7).

    DBSFinancial resultsSingapore banks

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    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