Latest news with #DBSGroupHoldingsLtd
The Star
4 days ago
- Business
- The Star
DBS sees rising demand for yuan settlements from Chinese exporters
A customer walks past automated teller machines (ATM) at a DBS Group Holdings Ltd. bank branch in Singapore, on Wednesday, Feb. 17, 2021. - Photographer: Lauryn Ishak/Bloomberg SINGAPORE: DBS Group, Southeast Asia's largest lender by assets, is seeing growing interest from Chinese exporters to settle trades in renminbi (RMB), or yuan, particularly with counterparts in Latin America and the Middle East, a senior executive said. "Right now, you see the Chinese exporters, some are beginning to ask and say, I'm going to sell in RMB, please settle in RMB," said Han Kwee Juan, speaking to Reuters in his first media interview since becoming DBS's group head of institutional banking in January. "Is that a trend that will continue? I think that it's something that they will continue to ask for as they trade more with the rest of the world, outside of the U.S.," he said. The shift comes as decades of unwavering faith in the U.S. dollar's dominance in global trade and capital flows faces scrutiny. Major emerging market economies are stepping up efforts to trade in local currencies, underscoring efforts to reduce reliance on the dollar in the global financial system. However, Han said that most settlements outside of China remain "largely in dollars". The bank's subsidiary, DBS China, has been a member of China's Cross-Border Interbank Payment System (CIPS) since 2015. China launched CIPS in 2015 to promote the yuan's usage in international trade. It allows global banks to clear cross-border yuan transactions directly onshore, instead of through clearing banks in offshore yuan hubs. DBS's settlement flows through the CIPS clearing system grew 30% year-on-year in 2024, Han said, though he maintained that the shift toward more yuan-denominated settlements remains gradual. In a wide-ranging interview, Han spoke of how businesses are dealing with the uncertainty over Trump's tariffs and outlined DBS's growth strategy in the current economic environment. "One of the things that we have been growing this year is we have been growing our capability for FI clearing," he said. "We have been quite purposeful in terms of investment that we have made in the clearing capabilities." The bank is also looking to capitalise on its institutional banking business to drive its return on equity, which currently stands at 17%, Han said. Last week, DBS posted a quarterly profit that beat estimates, sending its shares to a record high. "By being able to work with the customers holistically, not just with lending, but also with advisory and as well as cash management, enables us to not only just look at lending or (net interest income) as a source of revenue, but really growing our fee-based revenues," Han said. - Reuters
Economic Times
09-07-2025
- Business
- Economic Times
Singapore cuts queue time for global rich to set up family offices
Agencies Wealthy individuals setting up family offices in Singapore will now face a shorter wait of up to three months to access tax incentives, down from the earlier 12-month period, the Monetary Authority of Singapore (MAS) said on Wednesday. The change is part of the regulator's move to streamline processes and sustain its appeal as a global wealth hub even as scrutiny on financial flows tightens. Deputy Chairman Chee Hong Tat of MAS said the regulator is also working with private banks to help their clients open accounts faster. 'We want to maintain high standards and at the same time, we also want to make it convenient and business-ready for our clients,' Chee said during a media interaction at DBS Group Holdings Ltd. The move comes in the backdrop of heightened concern from investors over tougher checks on sources of wealth, following a string of financial scandals. Singapore has faced questions over its anti-money laundering safeguards after authorities seized S$3 billion ($2.3 billion) in assets linked to a major laundering case in 2023. 'We take a risk-proportionate approach and not a zero-risk approach,' said Chee. 'Otherwise, Singapore will not be able to capture new opportunities.' Last week, MAS fined nine financial institutions a total of S$27.5 million for lapses related to the 2023 laundering case. This was the regulator's biggest enforcement action since it shut down BSI SA's Singapore unit in 2016 over 1MDB-linked offences. Among the firms penalised were local branches of UBS Group AG, Citigroup Inc., and United Overseas Bank Ltd. When asked why domestic lenders faced less regulatory action, Chee said, 'It is not whether it is a local or international financial institution, but it is about the nature and extent and the severity of the lapses and offences that have been committed.' MAS said it had conducted supervisory examinations of all financial institutions involved in the case. At least 16 firms, including DBS, had dealings with those convicted, according to Bloomberg News. Growth of single family offices At the UBS Asia Wealth Forum held in Singapore earlier this year, Chee said the number of single family offices in Singapore rose to 2,000 in 2024—up from 1,650 in 2023. This reflects a 21 per cent increase in just one year, according to a Reuters report published in January. 'There will be, I think, more interest from investors to look at Singapore as a key node and hub in Asia,' Chee told participants at the forum. 'We want to see how we can offer greater variety of investment options, including for people who want to put their wealth here also to grow their wealth,' he added. Singapore has benefited from strong inflows of wealth into Asia, aided by a favourable tax regime, political stability, and its role as a regional investment base. Indian diaspora reshapes Singapore's family office landscape Nearly 60 per cent of Asia's family offices are now based in Singapore, The Straits Times reported. Among the high-profile names is the Ambani family, which set up its Singapore family office in 2022. They are joined by a younger wave of Indian entrepreneurs who are now formalising their succession plans through dedicated structures to avoid internal disputes and improve asset governance. According to DBS Bank, an estimated US$4 trillion (S$5.3 trillion) in wealth is expected to transfer across generations among the Indian diaspora over the next decade. In 2023, about 6,500 high-net-worth Indians moved abroad, with Singapore remaining one of the preferred destinations. 'Singapore is a top destination for ultra-high-net-worth individual Indian families looking to establish a family office outside of India,' said Shee Tse Koon, head of consumer banking and wealth management at Indian families are now shifting away from traditional holdings like real estate and gold, opting instead for a more diversified mix of public equities, private capital, and start-up investments. According to DBS, Indian family offices have participated in over 200 start-up funding rounds over the past two decades. This shift in strategy reflects broader concerns over volatility in the real estate sector, both in India and abroad. Family offices are increasingly focused on formalising their wealth management through structures that support trust management and estate planning, ensuring continuity across generations. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Newton vs. industry: Inside new norms that want your car to be more fuel-efficient India's gas dream runs on old pipes. Can a European fix unclog the future? Engine fuel switches or something else? One month on, still no word on what crashed AI 171 Is gold always the best bet? Think again Can this cola maker get back bubble valuation pricked by Ambani? Stock Radar: Metropolis Healthcare breaks out from 2-month consolidation; likely to retest 2,000 levels For risk-takers, it is time to review & reinvest: 5 mid-cap stocks from different sectors with upside potential of up to 38% in 1 year These large-caps have 'strong buy' & 'buy' recos and an upside potential of more than 25% Buy, Sell or Hold: Motilal Oswal raises target on SRF; Nuvama sees over 20% upside in Phoenix Mills
Yahoo
16-06-2025
- Business
- Yahoo
SUPV vs. DBSDY: Which Stock Should Value Investors Buy Now?
Investors with an interest in Banks - Foreign stocks have likely encountered both Grupo Supervielle (SUPV) and DBS Group Holdings Ltd (DBSDY). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits. Grupo Supervielle has a Zacks Rank of #2 (Buy), while DBS Group Holdings Ltd has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that SUPV likely has seen a stronger improvement to its earnings outlook than DBSDY has recently. But this is only part of the picture for value investors. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels. The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value. SUPV currently has a forward P/E ratio of 9.24, while DBSDY has a forward P/E of 11.69. We also note that SUPV has a PEG ratio of 2.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. DBSDY currently has a PEG ratio of 7.45. Another notable valuation metric for SUPV is its P/B ratio of 1.24. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, DBSDY has a P/B of 1.92. These are just a few of the metrics contributing to SUPV's Value grade of A and DBSDY's Value grade of D. SUPV has seen stronger estimate revision activity and sports more attractive valuation metrics than DBSDY, so it seems like value investors will conclude that SUPV is the superior option right now. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Grupo Supervielle S.A. (SUPV) : Free Stock Analysis Report DBS Group Holdings Ltd (DBSDY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
BusinessToday
09-06-2025
- Business
- BusinessToday
DBS Breaks US$100 Billion Barrier, Becomes Singapore's First Bank To Hit Milestone
DBS Group Holdings Ltd has become the first Singapore-based bank to cross the US$100 billion mark in market capitalisation, bolstered by a rally in its share price and a strengthening Singapore dollar. Shares of Southeast Asia's largest lender rose as much as 0.8% on June 9 to S$45.50, pushing its market value to S$129 billion (US$100.2 billion). The stock has gained 4.3% so far in 2025, with much of the appreciation amplified in US dollar terms due to a 6% rise in the Singapore dollar against the greenback. The milestone comes on the heels of robust financial performance and investor confidence. Singaporean banks, including DBS, have committed to returning billions in surplus capital to shareholders following record earnings in 2024. DBS' gains were driven by higher lending activity and wealth management fees. Tan Su Shan, who succeeded longtime Chief Executive Officer Piyush Gupta in March, said during her debut earnings call that the bank is positioning itself to capture value from supply chain shifts and increasing demand for foreign exchange hedging services. DBS is also strengthening its foothold in private banking. According to Asian Private Banker, it remains the third-largest wealth manager in Asia outside mainland China. The bank recorded S$21 billion in net new money last year, marking its third consecutive year of inflows above S$20 billion. Related
The Star
09-06-2025
- Business
- The Star
DBS tops US$100bil market value in first for Singapore banks
A customer walks past automated teller machines (ATM) at a DBS Group Holdings Ltd. bank branch in Singapore, on Wednesday, Feb. 17, 2021. - Photographer: Lauryn Ishak/Bloomberg DBS Group Holdings Ltd. became the first bank in Singapore to top US$100 billion in market value, helped by a softer US currency that amplified gains on the local stock market. Southeast Asia's top lender gained as much as 0.8% in Singapore trading on Monday to hit S$45.50. The firm is trading at a market capitalization of S$129 billion ($100.2 billion), extending its gains this year to to 4.3%. 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% against the US dollar. Singapore lenders have pledged in recent months to hand over billions of 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. 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. 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
