SG Morning Call｜ DBS Shares Jumped 2% after Posting 11% Rise In Q4 Profit To S$2.52 Billion

Market Snapshot

Singapore stocks opened higher on Monday. STI rose 1%; DBS up 2.5%, ocbc up 1%, UOB up 1%.

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DBS posted net profit for the fourth quarter that was 11 per cent higher compared with the year-ago period, but fell slightly short of expectations. Net profit for the three months ended Dec 31, 2024, was at S$2.52 billion, compared with S$2.27 billion from the year-ago period. Excluding one-off items – a S$100 million corporate social responsibility commitment to DBS Foundation and other charitable causes – Q4 net profit would have been up 10 per cent at S$2.62 billion.

The manager of Elite UK Reit on Monday (Feb 10) posted a distribution per unit (DPU) of 1.47 pence for the second half ended Dec 31, representing a payout ratio of 95 per cent.

This was 5.8 per cent higher than the 1.33 pence paid in the year-ago period, which was based on a payout ratio of 90 per cent. DPU for the year-ago period was adjusted based on FY2024’s weighted average units in issue of 593.4 million.

This brings full-year DPU to 2.87 pence, an increase of 5 per cent on the year. This was attributed to interest and tax savings.

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