To The Moon

I would like to recommend $DBS GROUP HOLDINGS LTD(D05.SI)$.

This is because when Singapore's big three banks (DBS, UOB, OCBC) reported a 10% Y-O-Y drop in Q1 earnings, DBS came first at $1.8 billion. Although this was a drop from last year, (due to Covid-19), this was the 2nd highest earnings ever. It triumphed over OCBC, which came at $1.36 billion and UOB at $906 million. In addition to this, DBS announced its dividends of 36 cents for Q1.

No doubt while the world is in turmoil and that this may lead to slower growths for companies, I believe DBS can weather this storm as it is not only one of the strongest banks in Singapore, but in Asia as well. It will continue to branch out, not in part due to its recent purchase of its CITIBANK assets as well.

As covid measures have eased, business may continue to grow and overcome these headwinds. This will then translate to tailwinds for DBS in terms of loans. In addition to this are the multiple interest rate hikes, which DBS will most likely benefit from. These will come in Jun and July at 50 BPS which the FOMC has announced.

Indeed, DBS shares have shown a steady overall growth as one of the most reliable blue chip stocks in Singapore. It is also one of the leaders which influences the stock market index in Singapore. It is even more attractive now at its current price of around $31, which was the price at the start of the year. While I believe stock price appreciation will take up only in Jul-Aug, one can still rely on its quarterly dividends.

DBS is one stock you can sleep easy with owning.

@TigerStars@CaptainTiger