DBS Group Holdings Ltd (OTCPK:DBSDF)

$ 33.24 0 (0%) Market Cap: 90.21 Bil Enterprise Value: 134.97 Bil PE Ratio: 11.47 PB Ratio: 1.80 GF Score: 77/100

Q3 2023 DBS Group Holdings Ltd Media Briefing Transcript

Nov 06, 2023 / 02:30AM GMT

Release Date Price: $22.33 (-2.77%)

Transcript

Edna Koh

DBS Bank Ltd. - Executive Director of Group Strategic Marketing & Communications

Okay. Good morning. If everyone can take your seats. Okay. Good morning, everyone, and welcome to DBS' Third Quarter Financial Results Briefing. This morning, we announced 3Q net profit rose 18% to $2.63 billion and 9-month net profit increased 35% to a new high of $7.89 billion. To tell us more, we have our CEO, Piyush Gupta; and our CFO, Chng Sok Hui. So without further ado, Sok Hui, please. Thank you.

Sok Hui Lim

DBS Group Holdings Ltd - CFO

Good morning, everyone. We achieved record total income in the third quarter and new highs for 9-month net profit and ROE. For the third quarter, net profit increased 18% from a year ago to $2.63 billion, while total income rose 16% to a new high of $5.19 billion. Growth in the commercial book was broad-based. Net interest margin expanded 52 basis points from higher rates, while net fee income grew 9% year-on-year from an increase in wealth management, cards and loan-related fees. Treasury customer sales and other income were

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