They add that overall loan growth is likely to have stayed soft due to “sluggish” corporate demand although this is slightly offset by the stronger US dollar (USD) in the 4QFY2024. The analysts expect DBS’s loans to grow by 0.5% q-o-q. In tandem, they believe that DBS’s loan growth for the FY2024 likely came in within the bank’s estimates within the low-single digit range.
CGS International analysts Andrea Choong and Lim Siew Khee have kept their “hold” call on DBS Group Holdings with an unchanged target price of $43 ahead of the bank’s earnings for the 4QFY2024 ended Dec 31, 2024. The bank will release its results for the 4QFY2024 and FY2024 on the morning of Feb 10.
“We expect DBS to post 4QFY2024 net profit of $2.7 billion,” write Choong and Lim in their Jan 13 report. The analysts’ estimate represents a 11% q-o-q drop but an increase of 13% on a y-o-y basis.
