[SINGAPORE] Shares of DBS dropped as much as 1.9 per cent as at 9.03 am on Monday (Feb 9) after it reported a fall in its quarterly and full-year net profit.
The counter dropped S$1.12 to S$58.18 after the bank reported that its fourth quarter net profit fell to S$2.26 billion, 10 per cent lower than the net profit of S$2.52 billion in the year-ago period.
The earnings missed the S$2.59 billion consensus forecast in a Bloomberg survey of six analysts.
Its shares had fallen 0.6 per cent to close S$0.36 lower at S$59.30 on Friday. They have climbed more than 5 per cent so far this year, having peaked at S$60 on Jan 29.
Last week, the bank’s group head of consumer banking said that DBS is aiming to reach S$100 billion in consumer cross-border flows in its core markets by 2030 and aims to double its market share to 20 per cent.
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