DBS announced a record net profit of $3.03 billion for the quarter to Sept 30, up 15% y-o-y, led by a 55% y-o-y surge in wealth management fees and markets trading income, which doubled y-o-y to $332 million in 3QFY2024.
Analysts from UOB Kay Hian (UOBKH), Maybank Securities and RHB Bank Singapore have maintained their “buy” calls on DBS Group Holdings (DBS) and raised their target prices for Singapore’s most valuable public company, following its record 3QFY2024 earnings announcement on Nov 7.
While Morningstar remains optimistic with a rating of “four stars”, OIR and CGS International have maintained respective their “hold” calls.
