|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||56.75 - 57.49|
|52 Week Range||44.22 - 79.66|
|Beta (5Y Monthly)||1.18|
|PE Ratio (TTM)||9.31|
|Forward Dividend & Yield||7.44 (13.13%)|
|Ex-Dividend Date||May 21, 2020|
|1y Target Est||53.71|
Singapore banks are likely to report their average net interest margins fell the most quarter-on-quarter in 18 years as interest rates weakened, while profits on the year are seen taking a hit from the impact of the COVID-19 pandemic and weak asset quality. The market's focus when DBS Group and its two smaller rivals report results this week will be on any signs that the June quarter marked the trough for net interest margins, a key measure of profitability, as economies emerge from months of lockdown. "We expect banks' profit to moderate over the near term due mainly to higher provisioning costs and low interest rates," said Shao Keng Ang, senior credit analyst at Eastspring Investments.
(Bloomberg) -- Shares in Singapore banks dropped after the country’s regulator asked them to cap their 2020 dividends at 60% of last year’s levels.DBS Group Holdings Ltd. led Thursday’s declines, with its shares dropping as much as 3.4%. Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. also fell.The Monetary Authority of Singapore requested the curb on payouts because it wants to “ensure the banks’ capital buffers remain ample in the face of significant uncertainties ahead, so they can sustain lending to the economy,” MAS Managing Director Ravi Menon said in a statement late Wednesday.Other central banks including the Federal Reserve, the Bank of England and the European Central Bank have already announced curbs on their banks’ dividend payments. A move by the MAS had been expected since Menon told a media briefing earlier this month that the MAS was in talks with the banks on their capital management.The MAS said its stress tests have showed that the local banks remain resilient, and it made the request as a pre-emptive measure. It asked the Singapore banks to offer shareholders the option of receiving 2020 dividends in scrip in lieu of cash.DBS is due to report its second-quarter results on Aug. 6, together with UOB. OCBC will report the following day.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Singapore asked its banks on Wednesday to cap dividend payments this year to conserve capital and increase capacity to lend to businesses and individuals due to the grim economic outlook caused by the COVID-19 pandemic. With the city-state facing its deepest recession ever, the Monetary Authority of Singapore called on banks to cap total dividends per share for FY2020 at 60% of what they paid out in 2019. MAS also asked locally-incorporated banks headquartered in the city-state to offer shareholders dividends in 2020 in the form of shares instead of cash.