0318 GMT - DBS Group may post seasonally softer 4Q 2024 earnings as business activity fell amid year-end travel and festivities, CGS International analysts say in a note. DBS's 4Q net interest margin likely remained stable despite the Fed's rate cuts in November and December as the impact may only be more noticeable in 1Q and 2Q 2025, they say. CGS thinks the Singapore bank benefited from a stronger U.S. dollar in 4Q, though overall loan growth may have stayed soft on sluggish corporate demand. Focus at the upcoming 4Q earnings briefing will be on DBS's updated 2025 guidance and capital management strategies, it adds. The brokerage maintains a hold rating with a S$43.00 target on DBS as it thinks investors have priced in a positive NIM and wealth management outlook for 2025. Shares are last at S$43.77. (hoishan.chan@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 22:18 ET (03:18 GMT)
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