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15-02-2022, 09:01 AM
PUBLISHED MON, FEB 14 20223:46 AM EST
Singapore’s largest lender DBS Group reported a record full-year profit for 2021, and its CEO Piyush Gupta told CNBC last year was “one of the best years” he’s seen.
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The bank on Monday reported that full-year net profit for 2021 rose 44% to a record of 6.8 billion Singapore dollars (US$5.04 billion).
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Gupta also highlighted the bank’s loans growth, which jumped 9% for the year — the fastest since 2014, according to the bank.
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“We had outstanding deposit growth,” he said, adding there’s been a SG$140 billion surge in the bank’s current account savings account base in the last two years.
That took its current account and savings account (CASA) ratio to total deposits to a record 76%. The metric is a measure of a bank’s profitability.
“Now, as you can imagine, that portends really well for a rising interest rate environment,” he said.
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“Of course, as rates go up, you know, we are already extremely well capitalized. And if you wind up creating even more capital through better bottom line and income growth, then there is a real likelihood that we will be able to reflect that in better payouts to our shareholders,” he told CNBC.
https://www.cnbc.com/2022/02/14/dbs-ceo-...dends.html
Vested since 2009.
Singapore’s largest lender DBS Group reported a record full-year profit for 2021, and its CEO Piyush Gupta told CNBC last year was “one of the best years” he’s seen.
......
The bank on Monday reported that full-year net profit for 2021 rose 44% to a record of 6.8 billion Singapore dollars (US$5.04 billion).
......
Gupta also highlighted the bank’s loans growth, which jumped 9% for the year — the fastest since 2014, according to the bank.
......
“We had outstanding deposit growth,” he said, adding there’s been a SG$140 billion surge in the bank’s current account savings account base in the last two years.
That took its current account and savings account (CASA) ratio to total deposits to a record 76%. The metric is a measure of a bank’s profitability.
“Now, as you can imagine, that portends really well for a rising interest rate environment,” he said.
......
“Of course, as rates go up, you know, we are already extremely well capitalized. And if you wind up creating even more capital through better bottom line and income growth, then there is a real likelihood that we will be able to reflect that in better payouts to our shareholders,” he told CNBC.
https://www.cnbc.com/2022/02/14/dbs-ceo-...dends.html
Vested since 2009.
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