My Christmas stock wishlist is none other than $DBS GROUP HOLDINGS LTD(D05.SI)$ , which has the largest market capitalisation in our local bourse and likewise has the highest weightage in my investment portfolio.

DBS stands to gain the most among its local peers in net interest margin on the back of rising interest rate as a relentless Fed continues to hike rates to rein in a stubbornly high inflation.

However, DBS is not spared from a sinking tide, as investors are pricing in an increasing odd of a recession next year. Loan growth is expected to slow down, as companies turn more cautious on new investments and business expansions, while bad debts may rise when corporate and individual borrowers are unable to service their loans amidst a slowing economy.

Nevertheless, with strong fundamentals, robust balance sheet, strong brand, unparalleled network within Singapore, captive customer base and competent management team, DBS is among the largest and safest banks in our region. Hence, barring a deep and prolonged recession, I believe that DBS will be capable of manoeuvring through the prevailing macro headwinds and emerging stronger.

Hopefully, DBS’ share price will surpass its past glory and previous height of $37.49, and grow from strength to strength!

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