DBS is still making a lot of $$$ n its dominant position in local banking is to me unquestionable. Seems almost like a luxury in these challenging times that there' s so much headroom available for allowance provisioning.
SINGAPORE, 31 October 2016 &ndash DBS Group reported net profit of SGD 1.07 billion for third quarter 2016, little changed from a year ago. An 8% rise in total income to SGD 2.93 billion as well as cost containment resulted in a 19% increase in profit before allowances to a record SGD 1.73 billion. The strong operating results provided substantial headroom for higher general allowances to be taken as a prudent measure.
SINGAPORE, 31 October 2016 &ndash DBS Group reported net profit of SGD 1.07 billion for third quarter 2016, little changed from a year ago. An 8% rise in total income to SGD 2.93 billion as well as cost containment resulted in a 19% increase in profit before allowances to a record SGD 1.73 billion. The strong operating results provided substantial headroom for higher general allowances to be taken as a prudent measure.
Likely to see minor rally after us election, then slowly turn stagnant/bearish.
If want to be stress free, best to wait after the US election before entering
After the US election, more downside than upside
Next support level is around 14.70. I think price will move down there before the US election.
technical reversal yesterday .....
Share price moving up liao... high time to catch up with the other 2 banks in terms of price movements
So so lor. Means expect neither big +ve surprise nor big shock ....
wonder what is the result , good or bad
wonder what is the result , good or bad
Announcement dates for 3Q results :
OCBC 华 侨 明 天 （ 27/10）
UOB 大 华 银 行 于 后 天 （ 28/10）
DBS 星 展 集 团 则 在 下 周 一 （ 31/10）
Don't think will up much. Market still concern about bad loan, which almost certain will increase in coming reporting. May have knee jerk effect.
Share price moving up liao... high time to catch up with the other 2 banks in terms of price movements
Share price moving up liao... high time to catch up with the other 2 banks in terms of price movements
Not surprise at all .....Asia banks are all growing their wealth management business aggresively as they are more HNW in Asia as the area grows with the econ.
China and India plus Indo might certainly have more $B aire than all of US and Europe ......
Recently OCBC has also spend 300+ M on this ....so can expect wealth mgt to be a major contributor for banks here.
Julius Baer, DBS said to mull buying ABN AMRO Asia Private Bank
By Bloomberg / Bloomberg | October 25, 2016 : 12:07 PM MYT
Translated by Google Translator:
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SINGAPORE (Oct 25): Julius Baer Group, DBS Group Holdings and LGT Bank are considering bids for ABN AMRO Group NV&rsquo s private-banking business in Asia, people with knowledge of the matter said.
The banks have expressed interest in the ABN AMRO unit and will study more detailed information on its business, according to the people, who asked not to be identified because the process is private. ABN AMRO hopes to announce a deal by year-end to minimize uncertainty for its private bankers and clients, the people said.
The sale could fetch more than US$300 million ($418 million), based on the valuations of other recent deals, the people said. ABN AMRO is the 18th-largest private bank in Asia, with US$19 billion of assets under management in the region, according to a 2015 ranking by Asian Private Banker.
A sale by ABN AMRO, the state-controlled Dutch lender that relisted its stock last year, would follow similar retreats in the industry by other lenders including Barclays Plc and Societe Generale SA, who sold their wealth-management operations in Asia to local rivals. ABN AMRO has been working with a financial adviser to explore a sale of the business, people with knowledge of the matter said this month.
Representatives for ABN AMRO, Julius Baer, DBS and LGT Group declined to comment.
