DBS Group Holdings Ltd Collects Awards According to BAC Report29 Aug 2011 • by Natalie Aster
LONDON – Founded in 1968 this Singapore banking giant gets awarded every year with the highest accolades. Thus, in 2011 it has already acquired awards of:
- DP Information Group (24th Annual Awards 2011 - Singapore 1000 & Singapore SME 1000),
- Corporate Governance Asia (1st Asian Excellence Recognition Awards 2011),
- Euromoney (Euromoney Asia's Best Managed Companies 2011),
- Euromoney (Euromoney Private Banking Poll 2011),
- Greenwich Associates (2011 Greenwich Share and Quality Leaders),
- The Asset (The Asset Transaction Banking Awards 2011),
- Capital Weekly (Capital Weekly Service Awards 2011),
- Wall Street Journal (Global Finance World’s Best Sub-Custodian Banks 2011),
- Starmine & JoongAng Ilbo (Top Analysts of 2011 for Korea),
- FinanceAsia (FinanceAsia Country Awards 2011 (Singapore),
- Asian Banking and Finance (Asian Banking and Finance Retail Banking Awards 2011),
- Global Finance (World's Safest Bank 2011)
in various nominations, including
- Safest bank in Asia,
- Top overall stock pickers in Singapore,
- Singapore Retail Bank of the Year,
- Best Broker, Southeast Asia,
- Best Bond House (Singapore),
- Best Equity House (Singapore),
- Outstanding Loyalty & Engagement Program in Hong Kong,
- Best Sub-custodian Bank in Singapore,
- Best Cash Management Bank in Singapore,
- Asian Large Corporate Banking: Ranked 5th,
- Best High Yield Bond in Asia,
and the list is to be continued.
Group financial performance is steady. It implements policy of constant expansion, now aiming at leader position in Asia and in the same time penetrating Middle East.
In FY2010 net profit (before one-time items) rose 28% to $2.65 billion from higher customer-driven non-interest income and a decline in allowances. Return on equity was 10.2% for the fourth quarter as well as for the full year. DBS remained well capitalized with total capital adequacy ratio at 18.4%, tier -1 at 15.1% and core tier-1 at 11.8%. For the full year, net interest income fell 3% to $4.32 billion. Net interest margins decreased from 2.02% to 1.84% due to a soft interest rate environment and normalizing credit spreads. The lower margins overlap the benefit of higher assets.
Latest interim results show net profit fall 9% from the previous quarter as market-related income declined. Underlying operating trends were positive as customer-related income continued to grow. Net interest income rose 7% from the previous quarter to a record $1.20 billion. Loans rose 7% from regional corporate borrowing. Net interest margin remained at 1.80%.
DBS Group Holdings Ltd operates through its wholly owned subsidiary DBS Bank. It operates in nine major segments: Personal Banking, DBS Treasures, POSB, DBS Asian Wealth Solutions, Institutional Banking, DBS Treasury & Markets, Capital Markets, DBS Private Equity, and DBS Group Research. DBS Bank also has three subsidiaries, namely The Islamic Bank of Asia, DBS Asset Management and DBS Vickers Securities, that help the company in its major activities.
More details on the company’s present activities, risk factors, business possibilities and experts’ forecasts can be found in the report “DBS Group Holdings, Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: DBS Group Holdings, Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Aug, 2011
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.
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