It's time to 'buy' DBS despite the plunge in its FY2020 net profit, analysts say
Amala Balakrishner • • 5 min read
CGS-CIMB has a target price of $28.35 while RHB’s analysts have a $30 call. MKE’s analysts’ target is $29.14.
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DBS Group Holdings remains a counter on analysts’ watch lists despite the 26% y-o-y plunge in its net profit for FY2020 to $4.72 billion.
This decline was due to a 27-basis point dip in its net interest margin (NIM) to 1.62% as well as a four-fold surge in its allowances to $3.07 billion.
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