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Dbs Group Holdings

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finance1 year ago•3 min saved

"DBS Cuts CEO's Variable Pay by 30% Amid Digital Disruptions"

DBS Group Holdings reported record earnings for 2023 but reduced the variable compensation for its senior management, including a 30% cut for CEO Piyush Gupta, due to digital disruptions. The bank's net profit rose 26% to SG$10.3 billion, with a better-than-expected fourth quarter net profit of SG$2.39 billion. DBS maintained its full-year net income interest forecast for 2024 and proposed a final dividend of 54 cents per share. The bank's exposure to the Chinese economy is focused on outbound activities, and it experienced digital disruptions in March and October 2023, leading to regulatory criticism.

via CNBC|

#ceo-compensation #dbs-group-holdings #digital-disruptions

finance2 years ago•2 min saved

DBS Bank's Q1 profit hits record high despite expected decline in net interest margins.

DBS Group Holdings, Singapore's largest lender, expects net interest income to decline in the future, but is confident in other growth drivers such as loans and fee income. The bank reported record revenue and net profit for Q1 2022 due to higher net interest margins, sustained business momentum, and resilient asset quality. DBS CEO Piyush Gupta expects a gradual decline in net interest margins and guided for a full-year average of between 2.05% and 2.1% in 2023. The company's board declared a dividend of 42 Singapore cents per share for Q1. Despite the slowdown in the West, Gupta sees supportive fundamentals in Asia and expects DBS to continue building its business.

via CNBC|

#dbs-group-holdings #dividends #finance