Singapore's largest lender expects net interest margins will decline, but sees other growth drivers
Publishing timestamp: 2023-05-02 03:49:47
Summary
DBS reported record revenue and net profit for the first quarter of 2023, but expects net interest margins to gradually decline. The bank is confident that it can ride on other drivers going forward, such as growth in loans and fee income. DBS CEO Piyush Gupta said NIM's "have probably peaked at around these levels" about 2.1% for February to April. Despite saying there will be limited upside from these levels, Gupta said he expects the pace of decline will be very gradual and not "falling off cliff."
Sentiment: NEUTRAL
Tickers: DBSM-SG,
Keywords: earnings, interest rates, business news, banks, federal reserve system, dbs group holdings ltd, asia economy,