Written by The Edge
DBS Group (D05.SG) 2Q net profit likely grew modest 3.6% on-year to $572 million, according to Dow Jones poll of five analysts.
Look for weakness in net interest income despite likely growth in loan book, also non-interest revenues probably hit by global market correction in 2Q.
Bottom line likely supported by lower provisions.
“Among Singapore banks, we think DBS has the most potential to disappoint in terms of earnings downside risk, given its larger interbank market exposure,” says Goldman Sachs.
Analysts expect DBS 2Q earnings to underperform results from peers OCBC (O39.SG), UOB (U11.SG), which due next month. DBS results due before market open Friday.
