DBS FY2020 net profit falls 26% YoY to $4.72b

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No This is due to higher credit cost and decrease in net interest margins. DBS Group Holdings has posted a 26% YoY decline to $4.72b in net profit for FY2020 due to higher credit cost and a 27-basis point decrease in its net interest margins (NIM) to 1.62% amidst the COVID-19 pandemic. CGS-CIMB analysts Andrea Choong and Lim Siew Khee said that DBS’ FY2020 total income performance was still commendable given the severe economic slowdown and interest rate decline. read more