DBS Group Holdings Ltd (SGX:D05)
S$ 35.99 0.37 (1.04%) Market Cap: 102.36 Bil Enterprise Value: 147.19 Bil PE Ratio: 5.31 PB Ratio: 1.61 GF Score: 69/100

Q2 2023 DBS Group Holdings Ltd Media Briefing Transcript

Aug 03, 2023 / 02:30AM GMT
Release Date Price: S$30.69 (-0.24%)
Edna Koh
DBS Bank Ltd. - Executive Director of Group Strategic Marketing & Communications

Okay. Good morning, and welcome to DBS' Second Quarter 2023 Financial Results Briefing.

This morning, we announced yet another record quarter with net profit up 48% to SGD 2.69 billion, return on equity reached 19.2%.

To give us more details, we have our CEO, Piyush Gupta; as well as our CFO, Chng Sok Hui. Without further ado, Sok Hui, please.

Sok Hui Lim
DBS Group Holdings Ltd - CFO

Thanks, Edna. Hello. Good morning, everyone. We achieved another record performance in the second quarter and first half with total income, net profit and ROE at new quarterly and half year highs. For the second quarter, net profit increased 48% from a year ago to SGD 2.69 billion, while ROE rose to 19.2%. Total income grew 35% to exceed SGD 5 billion for the first time. Commercial book net interest margin increased 96 basis points, including 12 basis points during the quarter. Fee income rose 7%, the first year-on-year increase in 6 quarters, led by Wealth Management

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