DBS Group Holdings Full Year 2023 Earnings: EPS Misses Expectations
DBS Group Holdings (SGX:D05) Full Year 2023 Results
Key Financial Results
Revenue: S$19.6b (up 20% from FY 2022).
Net income: S$9.98b (up 23% from FY 2022).
Profit margin: 51% (up from 50% in FY 2022). The increase in margin was driven by higher revenue.
EPS: S$3.87 (up from S$3.15 in FY 2022).
D05 Banking Performance Indicators
Net interest margin (NIM): 2.15% (up from 1.75% in FY 2022).
Cost-to-income ratio: 39.9% (down from 43.0% in FY 2022).
Non-performing loans: 1.11% (down from 1.13% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
DBS Group Holdings EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%.
The primary driver behind last 12 months revenue was the Institutional Banking segment contributing a total revenue of S$9.27b (47% of total revenue). The largest operating expense was General & Administrative costs, amounting to S$5.28b (55% of total expenses). Explore how D05's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Banks industry in Asia.
Performance of the market in Singapore.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with DBS Group Holdings, and understanding it should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
