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

Q1 2022 DBS Group Holdings Ltd Media briefing Transcript

Apr 29, 2022 / 03:15AM GMT

Release Date Price: $22.71 (+7.39%)

Transcript

Operator

Good morning, and welcome to DBS's First Quarter Financial Results Media Briefing. On the call today are DBS CEO, Piyush Gupta; and CFO, Lim Sok Hui. So we will first take us through DBS's performance in the first quarter, followed by Piyush, who will provide additional observation on the operating environment and the business outlook. So without further I do, Sok Hui, please.

Sok Hui Lim

DBS Group Holdings Ltd - CFO

Thanks, Angela. Good morning, everyone. I will start with the Slide 2 highlights. We achieved strong first quarter net profit of $1.80 billion. It was the second highest on record and was exceeded only by the exceptional first quarter last year. ROE was 13.1%. Business momentum was healthy and broad-based. Loans grew 2% from the previous quarter and fee income streams other than wealth management and investment banking were higher than a year ago. Net interest margin benefited from higher market rates, rising 3 basis points from the previous quarter. This was the first increase in 3 years. The performance was moderated by lower wealth management

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