analyst presentation 3Q06
Consistency and sustained growth
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Quarterly net profit surpassed $500 million for three
consecutive quarters
3Q 2006 net profit
1% from 2Q 2006
32% from 3Q 2005
(S$ million) (a)
600
518
552
473
500
500
419
400
549
373
384
300
200
1Q 2005 2Q 2005 3Q 2005 4Q 2005 1Q 2006 2Q 2006 3Q 2006
(a) Net profit excludes one-off gains and goodwill charge
2
Nine Months 2006 net profit almost the same as full-year
2005; up 28% from a year ago
YoY %
Growth
(S$ million)
FY 2005
Net profit (a)
1,649
1,619
1,265
Return on equity
9.7%
12.4%
10.0%
2.4%(b)
Return on assets
0.93%
1.14%
0.94%
0.20%
(a) Net profit excludes one-off gains and goodwill charge
(b) Growth rate refers to absolute change
9M 2006 9M 2005
28%
(b)
3
Sustained growth: DBS customer loans grew $27 billion
or 47% since December 2002
(S$ billion)
Loan balance
(a)
ion
l
l
i
b
.2
+$27
61.4
62.4
Dec
03
Mar
04
or 4 7
65.1
m
% fr o
67.2
r2
e
b
m
D ece
at 1
;
2
0
0
0
GR
A
C
.8 %
85.3
83.4
78.7 78.8
79.5 78.8
Jun
05
Dec
05
+2%
69.7 71.1
58.1
Dec
02
Jun
04
Sep
04
Dec
04
Mar
05
Sep
05
Mar
06
Jun
06
Sep
06
(a) Loan balance excludes DBS Thai Danu Bank’s loans (deconsolidated in June 2004)
4
Sustained growth: Net interest income supported by
margins and continued customer loan growth
Net interest income rose seven consecutive quarters to $912
million, a new record
(S$ million)
Net interest income
665
684
677
665
685
712
746
800
850
897
912
1Q 2004 2Q 2004 3Q 2004 4Q 2004 1Q 2005 2Q 2005 3Q 2005 4Q 2005 1Q 2006 2Q 2006 3Q 2006
Net interest margin at 2.17%; higher than 2005
5
Sustained growth: Fee income maintained at previous
quarter’s record level
Fee income: $293 million,
21% from a year ago
Quarterly fee income now more than fees earned for full-year 1998
(S$ million)
Fee income
ive
t
u
sec AGR
n
co % C
n
0
e
933
ev at 2
s
d wth
825
e
v
o
e
r
i
755
g
h
A c rs o f
626
yea
423
986
508
274
242
241 262
3Q
2005
4Q
2005
296
293
2Q
2006
3Q
2006
0
1998
1999
2000
2001
2002
2003
2004
2005
1Q
2006
6
Continued strong operating results reflects commitment
to be disciplined, consistent in performance
Customer franchise delivered broad-based loan growth,
record net interest income, and sustained fee income
Continued strong asset quality gives us latitude to
support customers’ growth throughout the region
7
Consistency and sustained growth
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
9
Operating profit up 34% on year as income trends
sustained
(S$m)
3Q
2006
YoY
%
912
22
2
293
21
(1)
Trading income
70
>100
(33)
Other income
45
(30)
(20)
408
33
(11)
1,320
25
(3)
Staff costs
317
24
(1)
Other expenses
267
7
(2)
Operating expenses
584
16
(2)
Operating profit
736
34
(3)
41
>100
(34)
552
32
1
Net interest income
Fee income
Non-interest income
Operating income
Provisions
Net profit
QoQ
%
Excluding one-time gains
10
9M operating profit up 26% on year
(S$m)
9M
2006
YoY
%
2,659
24
Fee income
851
14
Trading income
283
60
Other income
151
(5)
Non-interest income
1,285
19
Operating income
3,944
22
Staff costs
938
21
Other expenses
804
15
Operating expenses
1,742
18
Operating profit
2,202
26
134
(9)
1,619
28
Net interest income
Provisions
Net profit
Excluding one-time gains
11
Key 3Q and 9M ratios improve on year
(%)
3Q
2006
2Q
2006
3Q
2005
9M
2006
9M
2005
Net interest margin
2.17
2.23
1.92
2.20
1.86
Fee income/total income
22
22
23
22
23
Non-interest income/total income
31
34
29
33
34
Cost/income
44
44
48
44
46
12.3
12.7
9.7
12.4
10.0
Loans/deposits
67
69
69
67
69
NPL ratio
1.8
1.9
2.0
1.8
2.0
ROE
Excluding one-time gains
12
Interest income at quarterly record
(S$m)
Net interest margin (%)
2,943
2,691
2,659
2,507
2.20
2.23
2.23
897
912
2Q
3Q
2.06
1.88
1.87
1.91
2003 2004 2005
1.82
9M
2006
2.17
1.92
1.84
685
712
746
800
850
1Q
2Q
3Q
4Q
1Q
2005
2006
13
Loans up 8% on year
(S$m)
DTDB loans
85,254
83,410 2%
79,462 78,818 6%
11%
71,055
2%
2,915
2,915
61,415
Dec
2003
78,776
78,712 0%
1%
(1%)
69,659 2%
67,216 4%
65,048
3%
4%
62,424
Mar
Jun Sep
2004
Dec
Mar
Jun Sep
2005
Dec
Mar
Jun
2006
Sep
14
Fee income up 21% on year
Fee income
Dividends and rentals
Other income
Non-interest income /
total income (%)
(S$m)
1,767
1,788
37
41
40
825
1,395
933
32
986
87
1,285
34
29
33
33
34
420
457
296
31
28
851
104
855
751
127
282
2003 2004 2005
57
377
9M
2006
353
421
12
112
274
36
111
1Q
2Q
229
307
314
242
27
38
241
52
21
3Q
4Q
2005
262
8
150
1Q
408
36
125
293
13
102
2Q
3Q
2006
Excluding one-time gains
15
Wealth management sales slightly higher on quarter
(S$m)
Structured deposits
9,242
Bancassurance
Unit trusts
5,908
7,428
4,334
5,032
1,797
429
2,905
2004
247
2,847
2005
358
2,066
2,877
9M 2006
Sales (all products)
S’pore
3,874
3,560
2,535
HK
5,368
3,868
2,497
Fees (unit trusts and bancassurance only)
S’pore + HK
119
140
133
1,157
41
868
1Q
575
2,042
1,249
41
752
1,457
683
121
653
2Q
3Q
4Q
1,864
1,245
44
1,917
603
52
1,262
1,529
514
53
962
1,586
680
253
653
1Q
2Q
3Q
2005
2006
963
1,103
794
1,069
1,128
914
675
782
1,031
886
786
743
718
868
35
38
33
34
42
38
53
16
Cost-income ratio stable at 44%
(S$m)
Cost/Income (%)
1,956 2,026
1,801
1,742
44
42
2003 2004
Headcount
Staff costs (S$m)
47
2005
44
9M
206
12,144
11,454
12,728
12,670
876
993
1,052
938
47
48
49
43
44
44
44
486
484
505
551
564
594
584
1Q
2Q
3Q
4Q
1Q
2Q
3Q
2005
2006
11,649 12,090 12,562 12,728 12,673 12,453 12,670
265
253
255
279
300
321
317
Excluding one-time gains
17
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
18
Hong Kong’s operating profit up 37% on year as
recent performance sustained
(S$m)
3Q
2006
YoY
%
Net interest income
291
18
2
Non-interest income
95
23
9
Operating income
386
19
3
Operating expenses
171
2
4
Operating profit
215
37
3
27
>100
8
156
25
3
Provisions
Net profit after tax
QoQ
%
Figures for Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP. Excluding one-time gains
19
Hong Kong’s 9M operating profit up 39%
(S$m)
9M
2006
YoY
%
Net interest income
855
27
Non-interest income
272
7
1,127
22
Operating expenses
497
5
Operating profit
630
39
71
>100
463
27
Operating income
Provisions
Net profit after tax
Figures for Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP. Excluding one-time gains
20
Hong Kong’s key ratios improve on year
(%)
3Q
2006
2Q
2006
3Q
2005
9M
2006
9M
2005
Net interest margin
2.49
2.56
2.26
2.56
2.10
Non-interest income/total income
25
23
24
24
27
Cost/income
44
44
52
44
51
1.22
1.23
1.02
1.26
1.03
75
76
77
75
77
ROA
Loans/deposits
Excluding one-time gains
21
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
22
NPL rate improves to 1.8%
(S$m)
Substandard
Doubtful
Loss
5.2
NPL ratio (%)
2.5
3,780
2.1
1.8
2.4
2.2
2.0
2.1
2.1
1.9
1.8
73%
1,919 1,865
1,646
1,928 1,896 1,807 1,865
1,750 1,646 1,646
72% 71% 68% 65% 64%
64% 65%
71%
65%
65%
9%
22% 20%
15%
20%
14%
21%
9%
19%
11% 14%
18% 18%
15% 14%
20% 22%
2003 2004 2005
Sep
2006
Mar
Jun Sep
2005
Dec
5%
Mar
14%
22%
14%
21%
Jun
2006
Sep
23
Non-performing assets unchanged on quarter
(S$m)
3Q
2006
2Q
2006
3Q
2005
1,646
1, 750
1,896
New NPAs
160
132
180
Net recoveries of existing NPAs
(99)
(163)
(225)
Write-offs
(61)
(73)
(44)
1,646
1,646
1,807
NPAs at start of period
NPAs at end of period
24
Specific provision charges for loans are little
changed
(S$m)
3Q
2006
2Q
2006
3Q
2005
New NPLs
43
34
40
Existing NPLs
22
25
49
65
59
89
2
2
1
Settlements
32
19
39
Recoveries
4
5
19
38
26
58
27
33
30
Add charges for
Subtract charges for
Upgrading
Total SP charges
tangerinesin\Analyst presentation\1H2001 Results\06 Analyst Presentation.ppt
25
Provision coverage at 105%
(S$m)
GP
SP
2,387
1,064 1,706 1,800 1,734
1,741 1,784 1,758 1,800 1,749 1,725 1,734
1,017 1,031 1,104
1,039 1,068 1,032 1,031 1,045 1,074 1,104
1,323
689
769
630
2003 2004 2005 Sep
2006
702
716
726
769
704
651
630
Mar
Jun Sep
2005
Dec
Mar
Jun
2006
Sep
Coverage ratios (%)
SP+GP / Unsec NPAs
SP+GP / NPAs
124
187
198
237
202
201
207
198
218
234
237
63
89
97
105
90
94
97
97
100
105
105
26
CAR rises on quarter from new tier-2 issue
(%)
Tier-2
Tier-1
15.8
15.1
4.6
4.5
RWA
15.3
4.2
4.4
4.5
14.7
14.7 14.8 14.1 14.4 14.6
4.1
4.3
4.2
3.9
4.3
4.5
10.5 11.3 10.6 10.1
10.9 10.6 10.4 10.6 10.2 10.1 10.1
2003 2004 2005 Sep
Mar
2006
(S$bn)
Tier-1 capital
14.8 14.6
9.6
11.8
92.1 104.0
13.1
14.2
123.8 140.3
Jun
Sep
Dec
Mar
2005
11.8
12.2 12.6
108.8 114.8 121.2
Jun
Sep
2006
13.1
13.5
13.8
14.2
123.8 131.8 137.4 140.3
27
9M dividends up 24% to 51 cents per share
(S¢)
Final
Interim
Quarterly
58
51
40
30
30
22
16
16
14
14
18
2002
2003
2004
17
17
15
17
15
11
2005
17
2006
28
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
29
Consistency and sustained growth
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Quarterly net profit surpassed $500 million for three
consecutive quarters
3Q 2006 net profit
1% from 2Q 2006
32% from 3Q 2005
(S$ million) (a)
600
518
552
473
500
500
419
400
549
373
384
300
200
1Q 2005 2Q 2005 3Q 2005 4Q 2005 1Q 2006 2Q 2006 3Q 2006
(a) Net profit excludes one-off gains and goodwill charge
2
Nine Months 2006 net profit almost the same as full-year
2005; up 28% from a year ago
YoY %
Growth
(S$ million)
FY 2005
Net profit (a)
1,649
1,619
1,265
Return on equity
9.7%
12.4%
10.0%
2.4%(b)
Return on assets
0.93%
1.14%
0.94%
0.20%
(a) Net profit excludes one-off gains and goodwill charge
(b) Growth rate refers to absolute change
9M 2006 9M 2005
28%
(b)
3
Sustained growth: DBS customer loans grew $27 billion
or 47% since December 2002
(S$ billion)
Loan balance
(a)
ion
l
l
i
b
.2
+$27
61.4
62.4
Dec
03
Mar
04
or 4 7
65.1
m
% fr o
67.2
r2
e
b
m
D ece
at 1
;
2
0
0
0
GR
A
C
.8 %
85.3
83.4
78.7 78.8
79.5 78.8
Jun
05
Dec
05
+2%
69.7 71.1
58.1
Dec
02
Jun
04
Sep
04
Dec
04
Mar
05
Sep
05
Mar
06
Jun
06
Sep
06
(a) Loan balance excludes DBS Thai Danu Bank’s loans (deconsolidated in June 2004)
4
Sustained growth: Net interest income supported by
margins and continued customer loan growth
Net interest income rose seven consecutive quarters to $912
million, a new record
(S$ million)
Net interest income
665
684
677
665
685
712
746
800
850
897
912
1Q 2004 2Q 2004 3Q 2004 4Q 2004 1Q 2005 2Q 2005 3Q 2005 4Q 2005 1Q 2006 2Q 2006 3Q 2006
Net interest margin at 2.17%; higher than 2005
5
Sustained growth: Fee income maintained at previous
quarter’s record level
Fee income: $293 million,
21% from a year ago
Quarterly fee income now more than fees earned for full-year 1998
(S$ million)
Fee income
ive
t
u
sec AGR
n
co % C
n
0
e
933
ev at 2
s
d wth
825
e
v
o
e
r
i
755
g
h
A c rs o f
626
yea
423
986
508
274
242
241 262
3Q
2005
4Q
2005
296
293
2Q
2006
3Q
2006
0
1998
1999
2000
2001
2002
2003
2004
2005
1Q
2006
6
Continued strong operating results reflects commitment
to be disciplined, consistent in performance
Customer franchise delivered broad-based loan growth,
record net interest income, and sustained fee income
Continued strong asset quality gives us latitude to
support customers’ growth throughout the region
7
Consistency and sustained growth
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or
distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
9
Operating profit up 34% on year as income trends
sustained
(S$m)
3Q
2006
YoY
%
912
22
2
293
21
(1)
Trading income
70
>100
(33)
Other income
45
(30)
(20)
408
33
(11)
1,320
25
(3)
Staff costs
317
24
(1)
Other expenses
267
7
(2)
Operating expenses
584
16
(2)
Operating profit
736
34
(3)
41
>100
(34)
552
32
1
Net interest income
Fee income
Non-interest income
Operating income
Provisions
Net profit
QoQ
%
Excluding one-time gains
10
9M operating profit up 26% on year
(S$m)
9M
2006
YoY
%
2,659
24
Fee income
851
14
Trading income
283
60
Other income
151
(5)
Non-interest income
1,285
19
Operating income
3,944
22
Staff costs
938
21
Other expenses
804
15
Operating expenses
1,742
18
Operating profit
2,202
26
134
(9)
1,619
28
Net interest income
Provisions
Net profit
Excluding one-time gains
11
Key 3Q and 9M ratios improve on year
(%)
3Q
2006
2Q
2006
3Q
2005
9M
2006
9M
2005
Net interest margin
2.17
2.23
1.92
2.20
1.86
Fee income/total income
22
22
23
22
23
Non-interest income/total income
31
34
29
33
34
Cost/income
44
44
48
44
46
12.3
12.7
9.7
12.4
10.0
Loans/deposits
67
69
69
67
69
NPL ratio
1.8
1.9
2.0
1.8
2.0
ROE
Excluding one-time gains
12
Interest income at quarterly record
(S$m)
Net interest margin (%)
2,943
2,691
2,659
2,507
2.20
2.23
2.23
897
912
2Q
3Q
2.06
1.88
1.87
1.91
2003 2004 2005
1.82
9M
2006
2.17
1.92
1.84
685
712
746
800
850
1Q
2Q
3Q
4Q
1Q
2005
2006
13
Loans up 8% on year
(S$m)
DTDB loans
85,254
83,410 2%
79,462 78,818 6%
11%
71,055
2%
2,915
2,915
61,415
Dec
2003
78,776
78,712 0%
1%
(1%)
69,659 2%
67,216 4%
65,048
3%
4%
62,424
Mar
Jun Sep
2004
Dec
Mar
Jun Sep
2005
Dec
Mar
Jun
2006
Sep
14
Fee income up 21% on year
Fee income
Dividends and rentals
Other income
Non-interest income /
total income (%)
(S$m)
1,767
1,788
37
41
40
825
1,395
933
32
986
87
1,285
34
29
33
33
34
420
457
296
31
28
851
104
855
751
127
282
2003 2004 2005
57
377
9M
2006
353
421
12
112
274
36
111
1Q
2Q
229
307
314
242
27
38
241
52
21
3Q
4Q
2005
262
8
150
1Q
408
36
125
293
13
102
2Q
3Q
2006
Excluding one-time gains
15
Wealth management sales slightly higher on quarter
(S$m)
Structured deposits
9,242
Bancassurance
Unit trusts
5,908
7,428
4,334
5,032
1,797
429
2,905
2004
247
2,847
2005
358
2,066
2,877
9M 2006
Sales (all products)
S’pore
3,874
3,560
2,535
HK
5,368
3,868
2,497
Fees (unit trusts and bancassurance only)
S’pore + HK
119
140
133
1,157
41
868
1Q
575
2,042
1,249
41
752
1,457
683
121
653
2Q
3Q
4Q
1,864
1,245
44
1,917
603
52
1,262
1,529
514
53
962
1,586
680
253
653
1Q
2Q
3Q
2005
2006
963
1,103
794
1,069
1,128
914
675
782
1,031
886
786
743
718
868
35
38
33
34
42
38
53
16
Cost-income ratio stable at 44%
(S$m)
Cost/Income (%)
1,956 2,026
1,801
1,742
44
42
2003 2004
Headcount
Staff costs (S$m)
47
2005
44
9M
206
12,144
11,454
12,728
12,670
876
993
1,052
938
47
48
49
43
44
44
44
486
484
505
551
564
594
584
1Q
2Q
3Q
4Q
1Q
2Q
3Q
2005
2006
11,649 12,090 12,562 12,728 12,673 12,453 12,670
265
253
255
279
300
321
317
Excluding one-time gains
17
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
18
Hong Kong’s operating profit up 37% on year as
recent performance sustained
(S$m)
3Q
2006
YoY
%
Net interest income
291
18
2
Non-interest income
95
23
9
Operating income
386
19
3
Operating expenses
171
2
4
Operating profit
215
37
3
27
>100
8
156
25
3
Provisions
Net profit after tax
QoQ
%
Figures for Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP. Excluding one-time gains
19
Hong Kong’s 9M operating profit up 39%
(S$m)
9M
2006
YoY
%
Net interest income
855
27
Non-interest income
272
7
1,127
22
Operating expenses
497
5
Operating profit
630
39
71
>100
463
27
Operating income
Provisions
Net profit after tax
Figures for Hong Kong geographical basis and converted to S$ using monthly closing rates.
Based on Singapore GAAP. Excluding one-time gains
20
Hong Kong’s key ratios improve on year
(%)
3Q
2006
2Q
2006
3Q
2005
9M
2006
9M
2005
Net interest margin
2.49
2.56
2.26
2.56
2.10
Non-interest income/total income
25
23
24
24
27
Cost/income
44
44
52
44
51
1.22
1.23
1.02
1.26
1.03
75
76
77
75
77
ROA
Loans/deposits
Excluding one-time gains
21
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
22
NPL rate improves to 1.8%
(S$m)
Substandard
Doubtful
Loss
5.2
NPL ratio (%)
2.5
3,780
2.1
1.8
2.4
2.2
2.0
2.1
2.1
1.9
1.8
73%
1,919 1,865
1,646
1,928 1,896 1,807 1,865
1,750 1,646 1,646
72% 71% 68% 65% 64%
64% 65%
71%
65%
65%
9%
22% 20%
15%
20%
14%
21%
9%
19%
11% 14%
18% 18%
15% 14%
20% 22%
2003 2004 2005
Sep
2006
Mar
Jun Sep
2005
Dec
5%
Mar
14%
22%
14%
21%
Jun
2006
Sep
23
Non-performing assets unchanged on quarter
(S$m)
3Q
2006
2Q
2006
3Q
2005
1,646
1, 750
1,896
New NPAs
160
132
180
Net recoveries of existing NPAs
(99)
(163)
(225)
Write-offs
(61)
(73)
(44)
1,646
1,646
1,807
NPAs at start of period
NPAs at end of period
24
Specific provision charges for loans are little
changed
(S$m)
3Q
2006
2Q
2006
3Q
2005
New NPLs
43
34
40
Existing NPLs
22
25
49
65
59
89
2
2
1
Settlements
32
19
39
Recoveries
4
5
19
38
26
58
27
33
30
Add charges for
Subtract charges for
Upgrading
Total SP charges
tangerinesin\Analyst presentation\1H2001 Results\06 Analyst Presentation.ppt
25
Provision coverage at 105%
(S$m)
GP
SP
2,387
1,064 1,706 1,800 1,734
1,741 1,784 1,758 1,800 1,749 1,725 1,734
1,017 1,031 1,104
1,039 1,068 1,032 1,031 1,045 1,074 1,104
1,323
689
769
630
2003 2004 2005 Sep
2006
702
716
726
769
704
651
630
Mar
Jun Sep
2005
Dec
Mar
Jun
2006
Sep
Coverage ratios (%)
SP+GP / Unsec NPAs
SP+GP / NPAs
124
187
198
237
202
201
207
198
218
234
237
63
89
97
105
90
94
97
97
100
105
105
26
CAR rises on quarter from new tier-2 issue
(%)
Tier-2
Tier-1
15.8
15.1
4.6
4.5
RWA
15.3
4.2
4.4
4.5
14.7
14.7 14.8 14.1 14.4 14.6
4.1
4.3
4.2
3.9
4.3
4.5
10.5 11.3 10.6 10.1
10.9 10.6 10.4 10.6 10.2 10.1 10.1
2003 2004 2005 Sep
Mar
2006
(S$bn)
Tier-1 capital
14.8 14.6
9.6
11.8
92.1 104.0
13.1
14.2
123.8 140.3
Jun
Sep
Dec
Mar
2005
11.8
12.2 12.6
108.8 114.8 121.2
Jun
Sep
2006
13.1
13.5
13.8
14.2
123.8 131.8 137.4 140.3
27
9M dividends up 24% to 51 cents per share
(S¢)
Final
Interim
Quarterly
58
51
40
30
30
22
16
16
14
14
18
2002
2003
2004
17
17
15
17
15
11
2005
17
2006
28
Consistency and sustained growth
T
Strong operating trends sustained
T
Better performance in Hong Kong
T
Balance sheet remains strong
29
Consistency and sustained growth
DBS Group Holdings 3Q 2006 financial results
October 27, 2006
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