Shares of DBS (DBSM.SI), Southeast Asia’s largest lender, fell as much as 1.3% on Thursday after it posted quarterly earnings that came in below some broker estimates, although it was slightly above consensus.
At 9:30 a.m., shares of DBS were 0.9% lower at $15.18 with 809,000 shares changing hands.
At 9:30 a.m., shares of DBS were 0.9% lower at $15.18 with 809,000 shares changing hands.
DBS said its second quarter net profit was $735 million, slightly above Reuters consensus of $728 million, helped by strong loan growth.
However, several brokers were concerned about DBS’ weak trading income, which fell 43% on-quarter to $146 million and offset its strong net interest income.
“We expect near term weakness in the stock,” JPMorgan said in a report, but the brokearge expects a turnaround in the medium term as “core trends on margins, growth, liquidity and asset quality remain solid.”
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