DBS released its full year results today. Its net profit increased 15 per cent from 2010 to a record $3.04 billion. The Return on Equity improved to 11.0 per cent from 10.2 per cent. Non-performing loan rate (NPL) fell to 1.3 per cent from 1.9 per cent with better quality assets.
|NPL ratio||1.3%||1.9%||-0.6% pt|
|Dividend (Total)||56 cents||56 cents||No change|
|Net Book Value||$11.99||$11.25||+$0.74|
Earnings per share increased 15 cents to $1.30. DBS Board proposed same total dividend of 56 cents as 2010, giving a dividend payout ratio of 43 per cent. This was lower payout from that given out in 2010.
Net Book Value increased 74 cents to $11.99. The last traded price of DBS today was $13.55 (cum dividend of 28 cents final dividend). Price to Book was 1.13 times.
Because DBS was the first bank to release its results, no comparison can be made to UOB and OCBC.
Since the last time I wrote about DBS on 8 January 2012, the price of DBS had risen by 14.2 per cent from $11.86 to $13.55 today.
Some more information:
|Net Interest income||$4.83b||$4.31b||+12%|
|Net Interest margin||1.77%||1.84%||-7 basis points|
|Capital Adequacy – Tier 1||12.9%||15.1%|
|Capital Adequacy – Total||15.8%||18.4%|
Share price for 2011:
Last Done $11.52
Price to book ratio: 1.1 times
Copyright © 2012, limkimtong for Living Investment
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