DBS Group Posts Solid 3Q Result on Higher Net Interest Income
Narrow-moat-rated DBS Group's third-quarter result was solid as expected, with net profit increasing 3% on last quarter. In line with peers, the positive trend in net profit was driven by an improvement in net interest margin as the normalisation of interest rates flowed through to higher interbank rates in both Singapore and Hong Kong. Management expects net interest income to continue to benefit from rising interest rates in 2019, and our assumptions continue to factor in a steady increase in ...DBS Group Holdings is an investment holding, treasury and funding vehicle for itself and its subsidiaries. Co.'s main subsidiary is DBS Bank Ltd, which is engaged in a range of commercial banking and financial services, principally in Asia. Co.'s various business segments are: Consumer Banking/ Wealth Management, which provides individual customers with a range of banking and related financial services; Institutional Banking, which provides financial services and products to institutional clients; as well as Treasury, which provides treasury services to corporations, institutional and private investors, financial institutions and other market participants.
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