DBS GROUP EARNINGS
$5 billion in 5 days! Why FIIs are suddenly shopping Indian stocks non-stop this Diwali
Foreign institutional investors have poured nearly $5 billion into Indian equities in five trading sessions, marking a sharp reversal after months of heavy selling. Strong Q2 earnings, softer crude prices, stable currency and the global AI sell-off are improving India's appeal, with investors rotating towards relatively undervalued markets and large-cap stocks.
Bloodbath in Nasdaq, Kospi and Nikkei but why Nifty is an oasis of peace amid global rout
A global AI-led tech selloff has battered US and Asian markets, wiping out $3 trillion from S&P 500 companies. However, Indian equities are showing relative resilience as investors rotate away from crowded AI trades. Market experts believe India's lower exposure to the AI boom, attractive large-cap valuations and renewed foreign inflows could help it weather the global rout.
DBS Group Q3 net profit falls 5% to S$2.81 billion, misses estimates
DBS Group reported a 5% year-on-year decline in third-quarter net profit to S$2.81 billion, missing analyst estimates due to weaker market trading income. The bank also announced dividends and a leadership transition, with Anthony Lim set to become chairman in January 2027.
Asia-focused banks face bond market risks ahead of Q3 earnings
Asia-focused banks face mounting pressure from rising bond yields, inflation and currency volatility ahead of third-quarter earnings. HSBC, Standard Chartered and DBS confront profitability and capital risks, while Japanese and Southeast Asian lenders navigate bond losses, funding pressures and economic uncertainty.
Global Market Today: Asian stocks slide after US tech rout
MSCI Inc.’s regional equities benchmark slipped 0.3%, declining for a second day, leaving the gauge hovering around levels last seen in July. Taiwan’s stock exchange will be shut Friday due to a typhoon. Sentiment stayed weak as contracts for the Nasdaq 100 Index fell 0.3% in early Asian trading.
Global Market: Asian currencies slide as hot US inflation fuels Fed rate hike bets; won hits two-week low
Emerging Asian currencies weakened as hotter-than-expected US inflation revived Federal Reserve rate hike concerns, boosting the dollar and triggering a sell-off in AI-linked stocks. South Korea's won, Taiwan dollar, Philippine peso and Indonesian rupiah came under pressure amid capital outflows and rising borrowing costs.
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Barclays plans India equity advisory return after a decade
Barclays plans to restart its equity capital markets business in India after nearly a decade, targeting the country’s booming IPO market. Strong fundraising demand, robust retail investment flows and startup growth offer opportunities. With hundreds of companies awaiting IPO approvals, the bank aims to expand its equity advisory and underwriting services.
Air India’s $1.5 billion funding ask sparks backlash in Singapore parliament
A Singapore politician questions the logic of Singapore Airlines supporting Air India. He opposes using Temasek funds for Air India's turnaround efforts. The politician seeks parliamentary answers on Air India's financial assessment. He stated that Singaporeans do not owe Air India any support. Singapore Airlines should fund its Air India investment independently.
Global Market: DBS raises full-year outlook as record Q2 profit beats estimates
DBS Group announced a robust nine percent increase in net profit for the second quarter, bolstered by a remarkable forty-two percent rise in wealth management fees. Following an exceptional first half, the bank upgraded its full-year guidance. Despite facing margin pressures, overall profit margins showed improvement with a higher return on equity. Additionally, shareholders will benefit from an announced increase in the quarterly dividend.
DBS joins buzzing India ECM space with mandate in $1 billion IPO
DBS Group Holdings Ltd. has launched its equity capital market operations in India. The Singaporean lender secured its first deal with Manipal Health Enterprises Pvt. for a $1 billion initial public offering. This move signals DBS's strong commitment to India's growing capital markets. The bank aims to provide a full suite of investment banking services to Indian businesses and investors.
DBS Bank India to appoint Rajat Verma as CEO
Rajat Verma will become CEO of DBS Bank India on March 1, 2025, succeeding Surojit Shome. Verma, currently Head of IBG at DBS India, brings 27 years of experience and has contributed significantly to the bank's recent growth. Shome led DBS India through key milestones over the past decade.
Singapore bank DBS posts record quarterly profit, sees 2025 dip from tax changes
DBS Group, Singapore's largest bank, reported a record-breaking net profit for the third quarter, reaching S$3.03 billion. This impressive performance was fueled by robust fee income, particularly in wealth management. However, the bank projects a decline in net profit for 2025 due to the implementation of a global minimum corporate tax rate in Singapore.
Who is Tan Su Shan, Singapore bank DBS's incoming CEO?
DBS Group in Singapore appoints Tan Su Shan as CEO in March, making her the bank's first female chief executive. With 35 years of experience in banking, Tan has held various leadership roles at institutions like Morgan Stanley and Citigroup before joining DBS in 2010. Her focus will be on enhancing the bank's tech capabilities following recent service disruptions. Tan is also known for her interests in tap dancing, piano playing, and admiration for Margaret Thatcher.
DBS Bank India launches exclusive banking program for senior citizens
DBS Bank India introduced ‘DBS Golden Circle’, a priority banking initiative for senior citizens, providing attractive interest rates on savings and fixed deposits, cyber insurance, and several other benefits. The program aims to secure income in old age, offering flexibility in accessing funds and enhancing the overall banking experience for those aged 60 and above.
DBS sees net profit rising this year after Q1 beats forecasts
"While geopolitical tensions persist, macroeconomic conditions remain resilient and our franchise is well positioned to capture business opportunities," DBS Chief Executive Officer Piyush Gupta said in a statement.
DBS cuts CEO Gupta's pay by 30 per cent due to digital disruptions suffered by customers in 2023
DBS, Singapore's leading corporate group, has reduced CEO Piyush Gupta's variable pay by 30% due to digital disruptions experienced by the bank's customers. The CEO and other members of the management committee took a 21% reduction in their variable pay. DBS suffered disruptions to its digital banking services, leading to regulatory actions.
Singapore's DBS maintains 2024 guidance, Q4 profit beats forecasts
DBS Group, Singapore's biggest bank, maintained guidance for net interest income for 2024 at around last year's levels after posting a 2% rise in fourth quarter net profit, beating expectations.
DBS chief says China pessimism not 'overdone' but upbeat about India prospects
DBS Group CEO Piyush Gupta is optimistic about India's economy and plans to triple the bank's business in the country over the next five years. He acknowledges the challenges in China, particularly in the debt-ridden property sector, but sees growth prospects in sectors like electric vehicles. DBS also intends to increase its stake in Shenzhen Rural Commercial Bank. Gupta highlights the positive performance of DBS's wealth management business, fueled by inflows from Asia, the Middle East, and Europe.
DBS can fund $2 billion bid for Citi India unit, Bernstein says
It’s a case of “either go big or go home” for DBS to further expand in India where the Singapore-based bank also acquired Lakshmi Vilas Bank Ltd. in November, Bernstein analysts led by Kevin Kwek wrote in a report Thursday.
View: DBS will take from Citi to take on Grab
Grab’s record $40 billion merger with a blank-check company gives it balance-sheet muscle, which it is bound to flex against DBS.
DBS faces lawsuits in India post-takeover of Lakshmi Vilas Bank
Holders of Lakshmi Vilas Bank Ltd.’s equity shares and Tier-II bonds that were written off before the effective date of amalgamation took legal actions against DBS’s local unit in various high courts in India.
Elections in India come at critical time amid tensions with Pakistan: DBS Group
PM Modi has considerable popularity, but losses in recent state elections have dented the aura of inevitability from the elections, said the report.
For DBS, the woods are just dark and deep
Bad loans rose from the previous quarter to 1.5%, the bank said in its June earnings report.
How DBS Bank forays into India
In the past year, the bank has arranged a large number of bond deals worth about $ 3-4 billion, raised by domestic companies in the offshore market.
Jio, Vivo in race for team India sponsorship rights
DBS Bank roped in Sachin Tendulkar last year as its brand ambassador and believes this sponsorship will help the company establish its brand deeper in the Indian market.
DBS India reports Rs 275 crore loss in FY15 on write-offs, provisioning
"Losses have happened due to accelerated provisions and write-offs in the construction and infrastructure space," said Surojit Shome, CEO.
DBS to get into project financing in India
Mr Gupta's visit to Kolkata was his first as the DBS chief. The 51-year old banker incidentally started his career in Kolkata with Citibank.
Singapore's DBS bank quarterly profit falls 40 pct
Southeast Asia's largest bank, DBS Group Holdings Ltd., said Friday that profit in the fourth quarter fell 40% from a year earlier as fee income tumbled amid a global economic slowdown.
DBS Group Q3 profit dips 6% at $269 mn
DBS Group Holdings said its net earnings dipped 6.12 per cent to SGD 402 million for the third quarter ended September 30, due to lower fee-income and higher provisioning for exposure to troubled Lehman Brothers.
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