DBS Group Holdings Ltd.

Company Background

DBS Group Holdings was originally incorporated as The Development Bank of Singapore in 1968. It started as a financing institution for Singaporean companies and urban development projects. As the bank grew to include overseas divisions in China and Southeast Asia, the name was officially changed to DBS in 2003 to reflect its role as a regional bank. Its largest minority shareholder is Singapore state investor Temasek Holdings. The group has Singapore's largest network of over 2300 branches and self-service banking machines and also holds the leading domestic market share in the nation's banking sector.

CEO and director Piyush Gupta has led the group since 2009. Prior to joining DBS, Gupta was CEO of Citigroup's Southeast Asia, Australia and New Zealand operations. Under Gupta's leadership, DBS is undergoing expansion both across the region and at home. In 2014, DBS acquired Societe Generale's private banking business in Singapore and Hong Kong for $220 million, strengthening its wealth management business which targets millionaires in Asia. DBS was also the first Singaporean bank to incorporate in China in 2007. It now has branches in 10 major Chinese cities, as well as 50 branches in Hong Kong.

Business Summary

DBS Group Holdings Ltd. is an investment company, which provides retail, small and medium-sized enterprise, corporate, and investment banking services. It operates through the following business segments: Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets, and Others. The Consumer Banking/Wealth Management segment provides services including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products. The Institutional Banking segment offers financial services and products to institutional clients. The Treasury Markets segment deals with structuring, market-making, and trading across a broad range of treasury products. The others segment covers activities from corporate decisions and income; and expenses not attributed to the business segments described. The company was founded in 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2022	SGD	USD
Revenue	22,091M	16,019.70M
Gross Profit	--	--
Operating income	9,172M	6,651.24M
Income before tax	9,175M	6,653.42M
Net income	8,108M	5,879.66M
EBITDA	--	--
Diluted EPS	3.15	2.28
Dividends Per Share	1.50	1.08
Total Assets	743,625M	554,447.49M
Total liabilities	688,945M	513,678.03M
Total equity	54,495M	40,631.52M
Operating cash flow	9,763M	7,079.82M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	18,402M	21,032M	18,191M	16,662M	22,091M
Gross Profit	--	--	--	--	--
Operating income	6,567M	7,577M	5,360M	7,763M	9,172M
Income before tax	6,659M	7,583M	5,368M	7,780M	9,175M
Net income	5,491M	6,299M	4,606M	6,696M	8,108M
EBITDA	--	--	--	--	--
Diluted EPS	2.14	2.46	1.81	2.61	3.15
Dividends Per Share	1.20	1.23	0.87	1.20	1.50
Total Assets	550,914M	579,108M	650,132M	686,306M	743,625M
Total liabilities	503,851M	529,318M	598,890M	630,984M	688,945M
Total equity	46,233M	48,972M	51,225M	55,134M	54,495M
Operating cash flow	6,939M	7,149M	6,148M	5,720M	9,763M

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	13,638.15M	15,417.12M	13,187.74M	12,398.60M	16,019.70M
Gross Profit	--	--	--	--	--
Operating income	4,866.95M	5,554.18M	3,885.78M	5,776.63M	6,651.24M
Income before tax	4,935.13M	5,558.57M	3,891.58M	5,789.28M	6,653.42M
Net income	4,069.50M	4,617.36M	3,339.16M	4,982.65M	5,879.66M
EBITDA	--	--	--	--	--
Diluted EPS	1.59	1.80	1.31	1.94	2.28
Dividends Per Share	0.88	0.90	0.63	0.89	1.08
Total Assets	404,192.22M	430,675.62M	491,909.33M	509,072.42M	554,447.49M
Total liabilities	369,663.24M	393,647.40M	453,138.10M	468,036.93M	513,678.03M
Total equity	33,920.02M	36,419.88M	38,758.36M	40,896.04M	40,631.52M
Operating cash flow	5,142.65M	5,240.44M	4,457.05M	4,256.39M	7,079.82M

Valuation Measures

Dec 2022
PER	10.76
ROA	1.13%
ROE	14.79%
Operating margin	41.51%
Profit margin	36.70%

Key executives

Chief Executive Officer & Director: Piyush Gupta
Group Chief Information Officer & Head-Operations: Jimmy Ng
Chief Financial Officer: Sok Hui Chng
Joint Secretary, MD & Head-Legal: Chee Kin Lam
Chief Investment Officer & Consumer Banking: Wey Fook Hou

Shareholders

Temasek Holdings Pte Ltd. (Investment Company) (28.7%)
Capital Research & Management Co. (World Investors) (1.8%)
The Vanguard Group, Inc. (1.8%)
BlackRock Fund Advisors (1.4%)
Norges Bank Investment Management (1.3%)
Capital Research & Management Co. (Global Investors) (1.2%)
Harding Loevner LP (0.7%)
Davis Selected Advisers LP (0.6%)
Schroder Investment Management (Singapore) Ltd. (0.5%)
Lee Foundation (0.4%)

Contact Details

Website:http://www.dbs.com.sg
Address: Marina Bay Financial Centre, 12 Marina Boulevard, Singapore, 018982, Singapore
Phone: +65.6878.8888

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Competitors

Last Updated on 26 May, 2023