DBS Group's 2Q Result Weaker on Lower Trading Income; Underlying Business Performing Well
Unlike the first quarter, narrow-moat DBS Group’s second-quarter result was not firing on all cylinders, but the underlying business continues to perform well. The slightly weaker result was mainly due to lower net trading income and other noninterest income. The two income lines tend to be volatile, with trading income weighed by weaker fixed-income trading from higher credit spreads and flattening yield curves. The result does not alter our long-term view on the bank, as more important income ...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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