Singapore-based DBS is bullish on its own earnings outlook, with expectations of more record-breaking numbers in the medium term.
DBS expects to achieve earnings of over S$10 billion ($7.4 billion) and a return-on-equity of 15 to 17 percent in the medium term, according to an investor day presentation, defining the time range as three to five years.
This would mark more record-breaking accomplishments in the future after an all-time high net profit of S$8.2 billion in 2022.
Growth Markets
In addition to a strong balance sheet and digital transformation, DBS will also look to boost earnings via the growth markets of India, Indonesia, and Taiwan with targeted areas like transaction banking, wealth management, small business lending and unsecured retail lending.
Within India, DBS is aiming to be among the top 10 private sector banks, projecting a tripling of its net profit by 2026 to around S$375 million.
