The earnings call reflects a balanced sentiment with strong performance and strategic growth initiatives in wealth management and loan growth, countered by challenges such as increased tax rates and potential interest income loss.

Company Guidance

During the Q3 2024 earnings call for D05.SI, executives provided detailed guidance on several financial metrics and strategic initiatives. Piyush Gupta, the executive, discussed a strategic approach to share buybacks, indicating a capacity for an additional couple of billion dollars before encountering the Temasek challenge, keeping a cushion to avoid triggering a general offer at a 30% shareholding level. The company plans to return $3 billion to $5 billion of capital while managing $6 billion in transition capital to repay AT1s and AT2s, balancing between share buybacks, special dividends, and dividend increments. On asset and liability management (ALM), Piyush Gupta highlighted the renewal of $45 billion in fixed assets with $60 billion, achieving a yield increase from 2.2% to about 3.8%-4%. He projected a pickup in yield next year but not as substantial as this year, with maturing assets of around $55 billion. The net interest margin (NIM) sensitivity was discussed, with an expectation to move from 4 million basis points to 6 million by the end of next year due to asset repricing and CASA inflow. Additionally, the call touched upon potential loan growth of 3% to 5%, supported by strong pipelines in sectors like renewables and data centers, and a tax rate increase due to Singapore's minimum 15% tax legislation, potentially adding $400 million to tax obligations next year. The company's focus remains on leveraging growth opportunities in wealth management, FICC, and payments, while maintaining cost discipline and strategic expansion in core markets like Singapore and Hong Kong.

Strong Pipeline and Loan Growth Expectations

Despite current challenges, the company anticipates a loan growth of 3% to 5% next year, driven by sectors like data centers, semiconductor supply chains, and healthcare.

Robust Wealth Management Performance

The wealth management segment reported a record 56% of its investment AUM to total ratio, with expectations for continued growth driven by new RMs and increased productivity.

Oil and Gas Sector Recovery

The company recovered about $130 million in NPLs this quarter from the oil and gas sector and sees further recovery potential.

Buyback Strategy

The company outlines a strategic approach to share buybacks, with a cushion to conduct another tranche worth a couple of billion dollars.

Expansion Opportunities in Malaysia

The company is open to potential expansion in Malaysia, contingent on favorable government and regulatory conditions.

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DBS Group Holdings (SG:D05) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SG:D05 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 0.53	0.434	22.64% (+0.10)	―	―
Nov 05, 2018	2018 (Q3)	- / 0.54	0.313	72.52% (+0.23)	―	―
Feb 18, 2019	2018 (Q4)	- / 0.50	0.475	5.68% (+0.03)	―	―
Apr 29, 2019	2019 (Q1)	- / 0.64	0.59	8.64% (+0.05)	―	―
Jul 29, 2019	2019 (Q2)	- / 0.63	0.52	20.58% (+0.11)	―	―
Nov 11, 2019	2019 (Q3)	- / 0.64	0.54	17.78% (+0.10)	―	―
Feb 13, 2020	2019 (Q4)	- / 0.59	0.502	17.13% (+0.09)	―	―
Apr 30, 2020	2020 (Q1)	- / 0.41	0.583	-29.85% (-0.17)	―	―
Aug 05, 2020	2020 (Q2)	- / 0.44	0.57	-22.98% (-0.13)	―	―
Nov 04, 2020	2020 (Q3)	- / 0.45	0.578	-22.15% (-0.13)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SG:D05 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	S$38.66	S$41.17	+6.51%
Aug 07, 2024	S$31.83	S$32.71	+2.75%
May 02, 2024	S$34.03	S$34.12	+0.25%
Feb 07, 2024	S$27.13	S$27.82	+2.53%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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