Thanks to the weaker dollar $D05 (-0.21%) was the first listed company in Singapore to reach a market value of 100 billion dollars. The share price is currently around 45 Singapore dollars (35 US dollars) per share, with a market capitalization of over 129 billion Singapore dollars. Since the beginning of the year, the Singapore dollar has gained around 6 percent against the US dollar.
According to data compiled by Bloomberg, DBS ranks 22nd among global banks in terms of market value.
Outperformance through wealth
Some analysts believe that DBS's stock performance is largely driven by its wealth management division. Assets under management amounted to 432 billion Singapore dollars, and the bank has announced plans to further grow these assets to 500 billion Singapore dollars by the end of 2026.
"DBS' outperformance is due in large part to the stronger growth of its wealth management business, which is now starting to challenge the top players in Asia," according to a Morningstar note by Senior Analyst Michael Makdad . "Despite Trump's tariffs, the environment remains relatively favorable for Singapore banks, which are increasing their dividends and share buybacks more than we would have expected a year ago."
Source: www.finews.asia