DBS Group Holdings Ltd (OTCPK:DBSDF)
$ 31.25 -2.15 (-6.44%) Market Cap: 84.17 Bil Enterprise Value: 129.19 Bil PE Ratio: 10.78 PB Ratio: 1.68 GF Score: 76/100

Half Year 2021 DBS Group Holdings Ltd Earnings Media Briefing Transcript

Aug 05, 2021 / 02:30AM GMT
Release Date Price: $20.9 (+1.59%)
Edna Koh
DBS Bank Ltd. - Executive Director of Group Strategic Marketing & Communications

Good morning, everyone, and welcome to DBS' Second Quarter Financial Results Briefing. This morning, DBS announced solid second quarter earnings, which took our first half net profit to record $3.71 billion. Return on equity was 14%, significantly higher than a year ago. To tell us more, we have with us our CEO, Piyush Gupta; and our CFO, Chng Sok Hui. And without further ado, Sok Hui, please.

Sok Hui Lim
DBS Group Holdings Ltd - CFO

Good morning. We achieved our first half performance as net profit rose 54% from a year ago to $3.71 billion. Return on equity rose from 9.5% a year ago to 14.0%. First and second quarter net profit were the 2 highest on record. Business momentum accelerated in the first half, mitigating the impact of lower interest rates. Loans grew 6%, deposits 3% and fee income rose 20% with the first and second quarter, the 2 highest on record.

Both treasury customer flows and treasury markets income also reached new highs. Underlying

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