$D05 (-0.56%) A brief update on the DBS front.

DBS Group's net profit reached a record USD 2.27 billion (USD 3.03 billion) in the third quarter of 2024 (Q3 2024), marking a 15% increase year-on-year and an 8% increase quarter-on-quarter.

Total revenues increased 11% year-over-year and 5% sequentially to USD 4.31 billion (USD 5.75 billion), driven by balance sheet expansion, record fee income led by wealth management, increased revenue from treasury clients and the highest market revenues in ten quarters.

The cost-income ratio was 39%.

The Board declared a quarterly dividend of USD 0.41 (USD 0.54) per share, totaling USD 1.22 (USD 1.62) per share for the first nine months of 2024.

Chief Executive Officer Piyush Gupta noted the quarter's strong performance, with net interest margin supported by lower balance sheet sensitivity to interest rates, while fee income reached a new high amid favorable macroeconomic and interest rate conditions.

Source: https://sbr.com.sg/news/dbs-q3-2024-net-profit-climbs-15-yoy