ElvisChongYM
2022-12-29
nice//@Frisbee:$DBS GROUP HOLDINGS LTD(D05.SI)$ is my top
pick. DBS is Singapore’s largest bank. The lender recently announced that net profit for the first half of 2022 (1H2022) came in at S$3.6 billion, just 3% short of its record-high last year. However, the bank upped its interim quarterly dividend from S$0.33 last year to S$0.36, and its shares provide a forward dividend yield of 4.3%.
DBS has demonstrated its resilience throughout the pandemic as a rise in fee income compensated for lower net interest income. Looking ahead, the bank will benefit from the sharp hikes in interest rates as the US Federal Reserve attempts to bring down inflation.
Investors in the financial institution can also look forward to the integration of its recent acquisition of Citigroup’s (NYSE: C) Taiwan consumer division and new income streams coming from the launch of a digital exchange.
@SGX_Stars
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