“Lifting the dividend would signal the bank is confident in its capital position, even post-Basel IV,” Vantarakis notes. He does not believe that a raise is in consensus numbers and is of the view that many investors were disappointed an increase did not occur in 2Q2024.
DBS is expected to have the most favourable y-o-y profit momentum, a report by Macquarie on Singapore banks in 3Q2024 states.
In a report released on Oct 18, Macquarie analyst Jayden Vantarakis is of the opinion that DBS is the only bank poised to declare a dividend this quarter and is likely to be accruing capital after another quarter of benign growth and strong profitability.
