Latest news with #DBSGroupHoldings
Business Times
6 days ago
- Business
- Business Times
DBS to add 100 wealth bankers in Hong Kong as clients trade more
[HONG KONG] DBS Group Holdings, Singapore's largest lender, is planning to recruit 100 bankers catering to the rich in Hong Kong over the next three years with clients having more appetite to trade. Clients with at least HK$1 million (S$163,138) in investible assets are becoming more active in the financial markets, prompting the firm to add headcount, Ajay Mathur, DBS' head of Hong Kong consumer banking and wealth management, told the South China Morning Post in an interview. Volatility across assets from equity to bonds and currencies attracted investment demand, Mathur said in the article, which was confirmed by DBS. DBS's Hong Kong wealth revenue grew 86 per cent in the first quarter from the corresponding period in 2023, according to Mathur. DBS is also looking to add another wealth management hub in the city next year to offer products including insurance and financial planning services, he said. Its first such local centre opened last year at Queen's Road Central, targeting rich customers from Hong Kong and China. BLOOMBERG
BusinessToday
10-06-2025
- Business
- BusinessToday
SGX Opens Flat; STI Edges Down 0.03% Despite Broad-Based Gains
The Singapore Exchange (SGX) opened Monday slightly lower, with the Straits Times Index (STI) dipping 0.03% or 1.35 points to 3,932.94 as at 9.10am, amid cautious trading across the region. Trading volume stood at 72.82 million securities worth S$111.58 million, with 95 stocks advancing against 60 decliners — indicating mild bullish sentiment despite the marginal dip in the benchmark index. Among the STI heavyweights, DBS Group Holdings edged up 0.155% to S$45.19, while OCBC Bank and UOB held steady at S$16.30 and S$35.31, respectively. Singtel traded flat at S$3.86, and ST Engineering was unchanged at S$7.89. Singapore Airlines was steady at S$7.11, and ComfortDelGro hovered at S$1.43. The broader indices reflected a mixed start to the day, with the iEdge S-REIT Leaders Index at 993.15 and the iEdge SG ESG Leaders Index at 1,097.81. The FTSE ST Consumer Goods & Services Index stood at 221.44, while the iEdge SG All Healthcare Index was at 1,953.39. Market watchers expect the local bourse to trade in a tight range, as investors await key inflation and policy signals from the US Federal Reserve later this week. Related
Straits Times
10-06-2025
- Business
- Straits Times
DBS tops US$100 billion market value in Singapore Exchange first
South-east Asia's top lender closed 0.8 per cent higher at $45.49 in Singapore trading on June 9, giving it a market capitalisation of $129.36 billion. ST PHOTO: LIM YAOHUI SINGAPORE – DBS Group Holdings became the first listed company in Singapore to top US$100 billion (S$128.6 billion) in market value, helped by a weaker US dollar that amplified gains on the local stock market. South-east Asia's top lender closed 0.8 per cent higher at $45.49 in Singapore trading on June 9, giving it a market capitalisation of $129.36 billion (US$100.6 billion), extending its gains this year to more than 4 per cent. The advance in DBS's share price in US-dollar terms was driven by the weaker greenback. So far this year, the Singapore dollar has appreciated about 6 per cent against the US dollar. In local currency terms, DBS has eased slightly from its record closing high of $46.67 on Feb 26. At the current market value, DBS ranks about 22nd among global banks, according to data compiled by Bloomberg. That's ahead of Tokyo-based Sumitomo Mitsui Financial Group, but half that of HSBC Holdings. Some of Asia's biggest banks like Commonwealth Bank of Australia and India's HDFC Bank have bigger market capitalisations. The milestone comes after Singapore banks pledged in recent months to hand over billions of dollars in surplus capital to investors, encouraged by record-high earnings in 2024. DBS in particular, has benefited from increases in lending and wealth fees. Other than DBS, Singapore-based Sea that is listed in New York reached this valuation before. DBS chief executive officer Tan Su Shan took charge of the bank in March from Piyush Gupta after his 15-year leadership. Ms Tan said at her first earnings call in May that the bank seeks to benefit from supply-chain changes undertaken by its clients and increased demand for hedging foreign exchange exposure amid US President Donald Trump's tariff moves. 'A lot of DBS's out-performance has been due to the larger growth of its wealth management, which is really starting to challenge top players in Asia,' said Michael Makdad, a senior analyst at Morningstar, adding he sees the business continuing to grow. 'Despite Trump's tariffs, the environment remains relatively benign for Singapore banks which are increasing share dividends and buybacks more than we would've expected a year ago.' DBS is the third-largest wealth manager in Asia, excluding mainland China, according to data compiled by industry publication Asian Private Banker. Net new money for its business catering to the rich came in at $21 billion last year, demonstrating the strong inflows that have exceeded $20 billion for the past three years through 2024. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
09-06-2025
- Business
- Business Times
DBS tops US$100 billion market value in Singapore Exchange first
[SINGAPORE] DBS Group Holdings became the first listed company in Singapore to top US$100 billion in market value, helped by a softer US currency that amplified gains on the local stock market. South-east Asia's top lender gained as much as 0.9 per cent in Singapore trading on Monday (Jun 9), and is trading at a market capitalisation of S$129.2 billion, extending its gains this year to more than 4 per cent. The advance in DBS's share price in US dollar terms was driven by the weaker greenback. So far this year, the Singapore dollar has appreciated about 6 per cent against the US dollar. In local currency terms, DBS has eased slightly from its record closing high of S$46.67 on Feb 26. At the current market value, DBS ranks about 22nd among global banks, according to data compiled by Bloomberg. That is ahead of Tokyo-based Sumitomo Mitsui Financial Group, but half that of HSBC Holdings. Some of Asia's biggest banks like Commonwealth Bank of Australia and India's HDFC Bank have bigger market capitalisations. The milestone comes after the Republic's lenders pledged in recent months to hand over billions of US dollars in surplus capital to investors, encouraged by record-high earnings last year. DBS in particular, has benefited from increases in lending and wealth fees. Other than DBS, Singapore-based Sea that is listed in New York reached this valuation before. Chief executive officer Tan Su Shan took charge of DBS in March from Piyush Gupta after his 15-year leadership. Tan said at her first earnings call last month that the bank seeks to benefit from supply-chain changes undertaken by its clients and increased demand for hedging foreign exchange exposure amid US President Donald Trump's tariff moves. 'A lot of DBS's out-performance has been due to the larger growth of its wealth management, which is really starting to challenge top players in Asia,' said Michael Makdad, a senior analyst at Morningstar, adding he sees the business continuing to grow. 'Despite Trump's tariffs, the environment remains relatively benign for Singapore banks which are increasing share dividends and buybacks more than we would've expected a year ago.' DBS is the third-largest wealth manager in Asia, excluding mainland China, according to data compiled by industry publication Asian Private Banker. Net new money for its business catering to the rich came in at S$21 billion last year, demonstrating the strong inflows that have exceeded S$20 billion for the past three years through 2024. BLOOMBERG
Business Times
22-05-2025
- Business
- Business Times
Adani Ports gets about US$150 million loan from DBS
[MUMBAI] Adani Ports & Special Economic Zone raised about US$150 million through a bilateral loan agreement with DBS Group Holdings, according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure, the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said. The all-in-price, including the hedging cost, is about 5.5 per cent, one of the person said. DBS declined to comment. An Adani Group representative did not offer any immediate comments on the transaction. Billionaire Gautam Adani-owned conglomerate, with interests stretching from ports to green energy, is steadily regaining creditor confidence following a US Department of Justice indicted Adani over an alleged bribery plot in November. The bilateral loan is the group's first from a global bank since the indictment, one of the person said. Last month, the group raised about US$750 million through an offshore private placement bond to fund an acquisition of a construction firm. BlackRock subscribed to about a third of the issuance. Separately, the conglomerate is in talks with foreign banks including Barclays, First Abu Dhabi Bank and Standard Chartered Bank for a US$750 million loan for its airport unit. Representatives for Adani and his companies recently met US administration officials to discuss potentially dismissing criminal charges levied against him in the bribery probe, Bloomberg reported earlier this month. BLOOMBERG
