Singapore Stock Market News

DBS Group - Still strong operationally

StockFanatic
Publish date: Tue, 10 Feb 2015, 05:19 PM
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■ 4Q14 fell short on weak fee & trading income, as we warned on 5 Feb, & higher staff costs. FY14 at 97% of our forecast.

■ Operating strength intact. NIM improved, credit quality strong & SGD liquidity ample.

Reiterate BUY & SGD23.50 TP, at 13x FY15E EPS. Our preferred pick. Best positioned to benefit from rising rates.
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