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DBS 4Q09 - Beating Analysts' Expectations
05 Feb 10

Call DBS MBL eCW100505 (JR3W) exercise price $14.30.*

Put DBS MBL ePW100326(J1DW) exercise price $15.00.*

Long dated DBS MBL ECW120103 (JA6W) exercise price $13.80.*


DBS – Singapore’s largest bank by assets – reported its 4Q09 results this morning…

Beating estimates
Fourth quarter net profit came in at $493 million, up 29% from a year earlier. The figure exceeded the $464 million average estimate of seven analysts surveyed by Bloomberg. Full year net profit was $2.064bn, unchanged from the previous year.

The better than expected numbers were underpinned by higher business volumes across consumer and corporate banking segments. The full year profit before allowances rose 17% to a record $4bn as revenues reached a new high while net interest income for the full year grew 4% to a record $4.46bn.


Beating tough odds
The bank also strengthened its balance sheet during the year, with the capital base boosted by a $4.0 billion equity rights issue completed at the start of the year, which in turn raised DBS’ tier-1 capital ratio to 13.1%.

DBS CEO Piyush Gupta said, “2009 was a tough year by any measure and the team has done well. We were able to take advantage of the global financial shakeup to gain market share in areas such as equity and debt fund raising, lending and trade finance.

“The strong operating results are a testimony to the deepening relationships that DBS has with its key clients. We will continue to stand by and work closely with our customers, leveraging our expanding network to intermediate burgeoning intra-Asia trade and investment flows, as well as the growing regional connectivity.”


Macquarie DBS Warrants
Trading Call Warrants (Short term bullish view)
DBS MBL eCW100402 (JC0W) exercise price $13.00.*
DBS MBL eCW100505 (JR3W) exercise price $14.30.*
DBS MBL eCW100602 (J8GW) exercise price $15.90.*

Trading Put Warrants (Short term bearish view)
DBS MBL ePW100326(J1DW) exercise price $15.00.*

Long Dated Warrants (Long term bullish view)
DBS MBL eCW110404 (HJ6W) exercise price $7.50.*
DBS MBL eCW110103 (G9WW) exercise price $9.50.*
DBS MBL eCW110502 (H3IW) exercise price $13.00.*
DBS MBL ECW120103 (JA6W) exercise price $13.80.*
DBS MBL eCW111003 (IL6W) exercise price $15.50.*
DBS MBL iCW100401 (G9LW) exercise price $6.80.*

 

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