Curious about DBS Group net worth in 2024? We’ll dive into their market cap, key assets, and how their financial strategies are paying off. Join Ando Money to uncover the details of one of the leading banks in the world.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | DBS Group |
| Full Name | DBS Group Holdings Ltd |
| Traded as | SGX: D05 |
| ISIN | SG1L01001701 |
| Founded | 1968 |
| Founders | Singapore Government |
| Country/Territory | Singapore |
| Headquarters | Marina Bay Financial Centre, Singapore |
| Chief Executive Officer | Piyush Gupta |
| Number of Employees | 36,000+ |
| Market Cap | $81.08 billion |
| Total Assets | SGD 790.1 billion (approx. $577.6 billion) |
| Total Equity | SGD 65.3 billion (approx. $47.7 billion) |
| Revenue | SGD 11 billion (approx. $8.1 billion) |
| Net Income | SGD 5.76 billion (approx. $4.2 billion) |
What is the Net Worth/Market Cap Of DBS Group in 2024?
As of September 2024, DBS Group holds a market cap of $81.08 billion, placing it among the largest financial institutions in Southeast Asia.
DBS continues to strengthen its position globally, particularly as the financial services sector grows more competitive.
When compared to other global banks, DBS is not only a key player in the region but also increasingly recognized on the world stage.
If we look at other notable banks in the industry, DBS’s market cap puts it in close comparison with these global financial giants:
For more detailed insights on the largest banks in the world, feel free to check out this page to see how DBS ranks alongside other financial institutions.
DBS Group Financial Performance Overview
DBS Group has experienced tremendous growth in recent years, solidifying its position as a leader in Southeast Asia and expanding its influence globally.
In 2024, the bank continues to exhibit strong financial performance, driven by a robust mix of income streams, efficient cost management, and prudent risk management practices.
Let’s break down how the bank’s diverse sectors contribute to its financial strength.
Key Assets Contributing to Financial Strength
DBS’s asset base plays a crucial role in its financial performance. As of mid-2024, DBS reported total assets of SGD 790.1 billion (approx. $577.6 billion), making it one of the most asset-rich banks in the region.
A significant portion of these assets comes from its loan portfolio, which stands at SGD 430.9 billion.
This figure includes loans provided to both corporate and retail clients, with a noticeable increase in wealth management loans, indicating that DBS continues to serve high-net-worth individuals and businesses.
Deposits are another pillar supporting DBS’s financial strength.
The bank reported SGD 551.1 billion (approx. $402.7 billion) in deposits, a 6% increase year-over-year, largely due to fixed deposits and CASA (Current Account Savings Account) outflows that have been moderated by rising interest rates.
Return on Equity and Profit Margins
DBS’s financial strategy has allowed it to achieve industry-leading returns. In 2024, the bank recorded an impressive return on equity (ROE) of 19.4%, up from previous years.
This high ROE demonstrates DBS’s efficiency in generating profits relative to its shareholder equity.
The bank’s profit margins have also grown steadily, supported by prudent lending practices, fee income, and treasury sales.
The Role of Wealth Management in Revenue Growth
Wealth management has become a key contributor to DBS’s revenue. In fact, wealth management fees grew 42% year-over-year, driven by increasing assets under management (AUM) and high demand for investment services.
The integration of Citi Taiwan has played a significant role in boosting the bank’s wealth management business.
This move added approximately SGD 10 billion in loans and expanded the bank’s wealth management client base, particularly in Taiwan, one of the fastest-growing markets for affluent clients.
Treasury and Institutional Banking: Key Revenue Streams
DBS’s treasury customer sales and institutional banking services also provide a robust source of income.
Treasury sales reached SGD 621 million for the first half of 2024, showing significant growth.
This division has capitalized on market-making and trading activities, offering solutions in foreign exchange, derivatives, and interest rate products.
Moreover, the bank’s institutional banking services continue to be a key pillar, providing financial solutions to large corporations across the Asia-Pacific region.
DBS’s ability to serve corporate clients through comprehensive transactional services, such as trade finance and cash management, has also contributed to its solid financial performance.
The Impact of Digital Banking on Financial Performance
Digital transformation continues to be one of DBS’s most important strategies.
The bank’s digital banking platforms have attracted millions of new users, with its digital wallet PayLah! and digibank app providing convenience for transactions, payments, and account management.
The bank’s push towards digital solutions has not only enhanced customer experience but also driven fee income, particularly from transaction services and cross-border payments.
This focus on digital banking has positioned DBS as a leader in technological innovation within the financial services sector, further increasing its appeal to both retail and corporate clients.
Managing Risk and Asset Quality
DBS has maintained a resilient balance sheet, with a non-performing loan (NPL) ratio of 1.1%, consistent with previous years.
This low ratio reflects the bank’s strong risk management practices. In 2024, DBS took specific allowances of 10 basis points of loans, amounting to SGD 113 million.
The bank’s focus on high-quality assets and sound lending practices ensures that it is well-positioned to manage potential economic downturns or market volatility.
DBS’s liquidity coverage ratio (LCR) of 144% and Common Equity Tier-1 (CET1) ratio of 14.7% further demonstrate the bank’s ability to withstand financial shocks while maintaining robust liquidity buffers.
Dividend Policy and Shareholder Returns
DBS has been a consistent performer when it comes to delivering value to shareholders.
For the second quarter of 2024, the bank declared a dividend of 54 cents per share, reflecting its commitment to returning profits to shareholders. T
his dividend brings the total dividend payout for the first half of the year to SGD 1.536 billion.
By focusing on a combination of asset growth, prudent risk management, and diversified revenue streams, DBS has continued to generate strong returns for its investors while maintaining its position as one of the most financially sound institutions in the region.
FAQs about DBS Group
Who founded the DBS Group, and when was it established?
The bank was founded by the Singapore Government in 1968 to support economic growth. It has grown into a major player in global banking.
Who is the current CEO of the DBS Group?
The bank is led by its CEO, who has been instrumental in driving growth and digital transformation since 2009.
What are the main services offered by the bank?
The bank provides:
- Retail Banking (loans, deposits)
- Wealth Management (investment advisory)
- Corporate Banking (loans, trade finance)
- Treasury and Markets (foreign exchange)
How has the bank expanded internationally?
The bank expanded by acquiring Citi Taiwan in 2023, boosting its presence in Greater China and strengthening wealth management services.
What are DBS Group’s total assets in 2024?
In 2024, total assets amounted to SGD 790.1 billion (approx. $577.6 billion), demonstrating steady expansion across markets.
How has digital banking contributed to the bank’s growth?
Digital banking has driven growth with platforms like PayLah! and digibank, expanding user bases and increasing fee income.
Conclusion
DBS Group’s financial growth in 2024 showcases its strong position in the global banking industry. To learn more or share your thoughts, head to andomoney.com for more insights and engage with our community.
