DBS Group Holdings Ltd. (DBSDY.PK, DBSDF.PK), a Singaporean lender, on Monday recorded a reported net profit of S$11.289 billion, higher than S$10.062 billion recorded last year. Net profit stood at S$11.408 billion as against S$10.286 billion a year ago.
Profit before tax also improved to S$13 billion from the previous year's S$11.739 billion, while total income was S$22.297 billion, up from S$20.180 billion in 2023.
Commercial book total income was S$21.375 billion, compared with S$19.455 billion a year ago.
Commercial book net interest income rose by 5 percent to S$15 billion. Commercial book net fee and commission income stood at S$4.168 billion as against the previous year's S$3.384 billion.
Markets trading income improved by 27 percent to S$922 million from last year's S$725 million.
Customer loans were increased by 3 percent to S$431 billion, while deposits also improved to S$562 billion from S$535.103 billion. The increase was driven by fixed deposits in the first half of the year and by Casa inflows in the second half.
For the fourth quarter, the Board has proposed a final dividend of 60 cents per share, an increase of 6 cents from the previous payout. This brings the total full-year dividend to S$2.22 per share, an increase of 27 percent over the prior year. The final dividend will be paid on or about April 16.
As part of the capital management efforts, the company has been considering regular increases in dividends in the form of bonus issues, special dividends, share buybacks, and others. Towards this, it plans to introduce a Capital Return dividend of 15 percent per share per quarter in fiscal 2025.
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