Singapore's Sing Investments & Finance H1 net profit rises on interest income growth
Singapore's Sing Investments & Finance H1 net profit rises on interest income growth
Overview
Singapore finance company reported record net profit for first half, up 16% yr/yr
Total income for first half rose 13% yr/yr, driven by higher net interest income
Operating costs increased 6% yr/yr, mainly due to higher staff expenses
Outlook
Company says it will maintain strong capital position amid global uncertainties
Result Drivers
NET INTEREST INCOME - Co said record net profit was underpinned by strong net interest income, which grew 17% yr/yr
CUSTOMER LOAN GROWTH - Co attributed NII growth to 10% yr/yr increase in customer loans and wider net interest margin
HIGHER OPERATING COSTS - Operating costs rose 6% yr/yr, mainly due to higher staff expenses
Company press release: ID:nSN1Pl2Fl
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Total income |
| S$46.20 mln |
|
H1 Net Profit |
| S$25.20 mln |
|
H1 Net Interest Income |
| S$41.60 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Sing Investments & Finance Ltd is S$2.11, about 33.5% above its August 3 closing price of S$1.58
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
Reuters Recommended Reads
Aug 4 - HSBC's half-year profit rises 23%, net interest margin improves
Aug 3 - Malaysia's Maybank to take full control of Etiqa owner in $1.2 billion deal
Aug 3 - MUFG's first-quarter profit climbs 48% on higher loan margins
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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