{"id":104147,"date":"2019-02-19T14:01:09","date_gmt":"2019-02-19T07:01:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-bank-misses-mortgage-growth-forecast-for-2018\/"},"modified":"2019-02-19T14:03:48","modified_gmt":"2019-02-19T07:03:48","slug":"dbs-bank-misses-mortgage-growth-forecast-for-2018","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-bank-misses-mortgage-growth-forecast-for-2018\/","title":{"rendered":"DBS Bank misses mortgage growth forecast for 2018"},"content":{"rendered":"


\nThe bank\u2019s mortgage business continues to be slow.
\nGrowth in DBS Bank\u2019s housing loans business weakened further than expected last year following the introduction of new property cooing measures in July, reported the Business Times.
\nDespite revising its original full-year forecast of $4 billion to $2.5 billion when it announced its Q3 financial results in November, the bank still missed its projection as the final tally was shy of $2 billion.
\nMore: How To Get A Mortgage And Finance Your Property Purchase
\n\u201cMortgage business continues to be slow. Actually, our mortgage growth last year didn\u2019t even come in at $2 billion,\u201d said DBS CEO Piyush Gupta. For the last quarter of 2018, its housing loan business rose by $500 million.
\n\u201cBookings have been particularly slow. Overall, our new bookings are coming in at least 30 to 40 percent lower than they were before the cooling measures.\u201d Nonetheless, its market share of Singapore residential mortgages remained at 31 percent.
\nFor the entirety of 2019, the lender thinks than its housing loan business would grow by approximately $1.5 billion to $2 billion, on the back of around 65 new housing projects to be launched in the city-state this year.
\nDespite the slower mortgage growth in 2018, DBS Bank\u2019s earnings increased significantly by 28 percent year-on-year to $5.63 billion, a record high and the first time that the lender\u2019s net profit surpassed $5 billion. At the same time, its revenue rose by 11 percent to $13.18 billion, also a record high.
\n\u201cWe achieved financial results befitting our 50th anniversary, a year when we were also recognised as the world\u2019s best bank and best digital bank,\u201d Gupta noted.
\nGet more details on the property market outlook for 2019 here
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…DBS Bank misses mortgage growth forecast for 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The bank\u2019s mortgage business continues to be slow. Growth in DBS Bank\u2019s housing loans business...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104147","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-r5N","jetpack-related-posts":[{"id":109478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-recovering-housing-market-a-boon-for-dbs\/","url_meta":{"origin":104147,"position":0},"title":"Singapore\u2019s recovering housing market a boon for DBS","date":"July 30, 2019","format":false,"excerpt":"\r DBS cited mortgage lending as a bright spot in their recently released second-quarter earnings as the b Mortgage-loan applications rose 60 per cent from the first three months of 2019. This is due to the resurging housing market.\u00a0 Benefitting from the city-state\u2019s resurging housing market, Singapore\u2019s biggest bank DBS\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-mortgage-demand-significantly-dented\/","url_meta":{"origin":104147,"position":1},"title":"Singapore mortgage demand significantly dented","date":"January 25, 2019","format":false,"excerpt":"\r Rising interest rates and new property cooling measures have significantly dented mortgage demand. Rising interest rates and the government\u2019s surprise property cooling measures in July have significantly dented mortgage demand at Singapore\u2019s banks, threatening to further accelerate the decline in house prices, reported Bloomberg. In the first 11 months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-to-drop-by-up-to-10-following-new-curbs\/","url_meta":{"origin":104147,"position":2},"title":"Singapore home prices to drop by up to 10% following new curbs?","date":"August 7, 2018","format":false,"excerpt":"\r Local banks reckon home prices will fall following the latest round of cooling measures. Singapore banks expect home prices to fall along with home loan activity, following the introduction by the government of its latest round of property cooling measures. UOB chief Wee Ee Cheong revealed that his \u201cgut\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-related-loans-to-fall-by-1b-in-2h-2018-dbs\/","url_meta":{"origin":104147,"position":3},"title":"Property-related loans to fall by $1b in 2H 2018: DBS","date":"August 3, 2018","format":false,"excerpt":"\r Mortgages to home buyers and loans to property developers are expected to decline following the new property cooling measures. Due to the new property curbs, DBS Group Holdings expects its mortgage business to grow by 6.0 to 7.0 percent for the whole of 2018, down from its initial forecast\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-impact-bigger-than-expected\/","url_meta":{"origin":104147,"position":4},"title":"Property cooling measures\u2019 impact bigger than expected","date":"January 11, 2019","format":false,"excerpt":"\r DBS bank\u2019s property loans segment has dropped by 40 to 50 percent since the latest cooling measures were announced. The government\u2019s surprise property cooling measures in July 2018 had \u201cmore bite\u201d than anticipated, with DBS bank\u2019s property loans segment dropping by 40 to 50 percent \u2013 way below the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94279,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-cooling-measures-to-impact-banks-mortgage-business-says-dbs\/","url_meta":{"origin":104147,"position":5},"title":"New cooling measures to impact banks\u2019 mortgage business, says DBS","date":"July 20, 2018","format":false,"excerpt":"\r Singapore\u2019s mortgage market is expected to soften in the long term due to the new cooling measures in the private residential market, according to the city-state\u2019s largest bank, DBS Group Holdings. Nevertheless, the large number of homes purchased a few hours before the curbs took effect will give a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104147"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=104147"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104147\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}