$D05 (+0.25%) (DBS Group Holdings Ltd.) has announced its results for the full year, which were down on the previous year.
The company's earnings amounted to SGD 10.933 billion or SGD 3.82 per share. This compares to profits of SGD 11.289 billion or SGD 3.94 per share in the previous year.
Excluding exceptional items, DBS Group Holdings Ltd. reported adjusted earnings of SGD 11.033 billion or SGD 3.86 per share for the period.
Overview of DBS Group Holdings Ltd's results (GAAP):
- Profit: SGD 10.933 billion compared to SGD 11.289 billion in the previous year.
- EPS (Earnings per Share): SGD 3.82 compared to SGD 3.94 in the previous year.
This decline in annual net profit reflects the impact of interest rate and tax charges. "Total income rose 3% to a record SGD 22.9 billion as fee income and treasury customer business reached new highs, net interest margins remained stable despite pressure from interest rates and trading profits rose to the highest level since 2021," the company said.
Net interest income amounted to SGD 14.500 billion compared to SGD 14.424 billion in the previous year. Non-interest income was SGD 8.400 billion, compared to SGD 7.873 billion in the previous year.
The Group will pay a final dividend of 66 cents per share for the full year and a capital redemption dividend of 15 cents for the fourth quarter.
Together with the interim dividends of SGD1.80 and capital redemption dividends of SGD0.45 for the first three quarters, the total dividend for the year is SGD3.06 per share, an increase of 38% over the previous year.
The final dividend and capital repatriation dividend for the fourth quarter are expected to be paid on or around April 17.