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The biggest bank in Singapore DBS Group declares a hefty dividend even as it projects this year’s loan growth to be in the low single digits.

The prestigious lender did not let down, releasing a staggering set of financial figures in keeping with the atmosphere of increased interest rates.

The bank’s overall revenue for the first time exceeded the S$16 billion threshold, and its net profit set a new record high of S$8.2 billion.

A special dividend of S$0.50 was also issued by DBS in light of the impressive achievements.

In FY2017, the bank already announced a special dividend.

Additionally, DBS divided the results of the group for the first time into “Commercial Book” and “Treasury Markets” to better represent trends in client performance.

In FY2022, DBS’ commercial book segment’s net interest income (NII) increased 40% year over year to S$10.7 billion as the bank benefited from higher interest rates.

However, the segment’s fee income fell 12% year over year to S$3.1 billion.

The overall income increased 16% year over year to a record S$16.5 billion despite the decreased fee income.

The lender’s profit before allowances increased by 22% to S$9.4 billion despite total costs only increasing by 10% annually.

To S$8.2 billion, net profit for FY2022 increased 20% from the previous year.

When the entire impact of higher interest rates is taken into account, DBS’ fourth quarter (4Q FY2022) data reveal that NII increased by 74% year over year to S$3.4 billion for its commercial book segment.

Total revenue almost reached S$4.6 billion, up 41% year over year, while the quarter’s net profit jumped 68% year over year to S$2.3 billion.

The increase in NII was significantly influenced by a larger net interest margin (NIM).

Its commercial book NIM increased significantly for FY2022, rising from 1.63% to 2.11%.

Nearly a full percentage point higher than the 1.65% recorded in the first quarter of this year, NIM for 4Q2022 was 2.61%.

NIM at the group level increased by 0.3 percentage points to 1.75 percent in FY2022, from 1.45% in FY2021.

There is cause for optimism that DBS’ NIM can remain over 2% given that its group NIM for the fourth quarter of FY2022 was 2.05% and CEO Piyush Gupta does not anticipate a rate decrease from the US central bank this year.

Open a brokerage account

To acquire assets like Coinbase, you’ll need to create a brokerage account if you don’t already have one. Access to other products like bonds, mutual funds, and exchange-traded funds is also provided through brokerage accounts; in fact, some brokers now even provide cryptocurrency trading services.

Once your account has been filled, you may place a Coinbase order on the broker’s website or trading interface. Opening an account simply takes a few minutes.

Lets look at some Brokerage accounts

Robinhood

Robinhood Offers Resources To Aid In Investing. The platform is designed to be intuitive and usable by both beginners and seasoned users.

Robinhood Gold offers 4.15% interest on uninvested brokerage funds, which is 23 times the average savings rate in the country. No cap. Rules apply.

Join Robinhood or recommend a friend to get a free fractional stake in the businesses you love. There are restrictions in place.

Invest in stocks, ETFs, and options for no cost with Robinhood Brokerage.

Invest in your preferred businesses. With fractional shares and hundreds of stocks to select from, you may contribute as little as $1 to businesses that may one day be valuable to you and your future. The terms are.

public.com

App for Free Investing. Buy stocks, ETFs, and cryptocurrencies. Build your portfolio, follow other investors, and make context-sensitive investments.

Access to Public Markets through an Open Investor Community with No Commission Fees

Tools for Long-Term Portfolios

Sign up and Receive a Free Slice of Stock!

GEMINI

With the crypto platform created for the twenty-first century, invest in your future. Start right now with only $1 and without a minimum balance requirement.

User-Friendly Crypto Trading Platform Available on Web and Mobile Apps

World-class security was built in.

Buy, Sell, Store, and Earn Bitcoin, Ether, and Over 30 More Cryptocurrencies

Insure Crypto Exchange Wallets

SoFi

In addition to equities and ETFs, SoFi Trade offers 25 more cryptocurrencies, including Bitcoin, Ethereum, Cardano, Dogecoin, and Solana. With the help of our cryptocurrency trading platform, you may trade around-the-clock and study the market by keeping an eye on the value of up to 40 different cryptocurrencies.

Use a single app to invest in equities and ETFs, trade cryptocurrencies, or start automatic investing.

Trade 30 cryptocurrencies around-the-clock on SoFi’s platform, and have your crypto assets safe from theft and fraud thanks to SoFi’s secure platform.

Free use of SoFi Financial Planners.

Increase your purchasing power with margin at just 2.5%

Access SoFi’s comprehensive crypto information portal, which covers a wide range of topics from blockchain 101 to the history of cryptocurrencies.

Some other platform –

Interactive Brokers

Webull

TradeStation

Binance.US

Coinbase

Kraken

Charles Schwab

TD Ameritrade TD Ameritrade

Financial crisis

The British have been utilizing bronze as a trade currency and to produce equipment and jewellery for millennia. However, it started to alter around 800 BCE when the price of bronze dropped, leading to social unrest and an economic or financial crisis what we would now refer to as a recession.

Why do recessions occur? There has been a lot of discussion on this issue among economists for a very long time, and for good reason. A recession can range from a brief slump with local effects that lasts months to a protracted downturn with global effects that lasts years, or it can be anything in between.

Further complicating matters, it is challenging to identify particular reasons because there are so many factors that affect an economy’s health. So it’s helpful to start with the big picture: recessions happen when the equilibrium between supply and demand is negatively disrupted. An economy is in decline when there is an imbalance between the quantity of things consumers desire to purchase, the quantity of goods and services producers can supply, and the cost of those goods and services.

Interest rates and inflation rates both indicate how supply and demand are balanced in an economy. When goods and services become more costly, inflation occurs. Or to put it another way, money loses value. Inflation isn’t always a terrible thing, though. In fact, it is believed that low inflation rates stimulate the economy. However, excessive inflation without correspondingly high demand can harm an economy and ultimately trigger a recession.

Meanwhile, interest rates represent the price that people and businesses pay when they take on debt. The rate that borrowers pay to their creditors up until the loan is repaid is normally a yearly percentage of the loan. Low interest rates enable businesses to take out larger loans, which they may then utilise to fund additional projects. Meanwhile, high interest rates raise production and consumer expenses, reducing economic activity.

Changes in inflation and interest rates can provide us with information about the state of the economy, but what ultimately drives these changes? Shocks like natural disasters, war, and geopolitical issues are the most apparent causes. For instance, an earthquake can obliterate the infrastructure required to generate essential goods like oil. As a result, the supply side of the economy is forced to raise the price of goods that consume oil, which discourages demand and can bring on a recession.

However, some recessions do happen during prosperous economic times—possibly even as a result of prosperous times. Some economists think that a market’s expansion might occasionally result in company activity that is too high to maintain. For instance, businesses and individuals could take on additional debt under the theory that the expansion of the economy would enable them to manage the increased load. However, if economic expansion is slower than anticipated, they may accumulate more debt than they can handle.

They’ll have to divert cash from other uses, which would decrease corporate activity, to pay it off. A recession may also be influenced by psychology. If recession anxiety discourages individuals from investing and spending, it might become a self-fulfilling prophesy. Producers could reduce operational expenses in order to counteract the anticipated reduction in demand. Cost reductions eventually cause salaries to decline, which in turn causes demand to decline even further. Even measures intended to assist avert recessions may have an impact.

Governments and central banks may create money, increase expenditure, and cut interest rates when circumstances are hard. In consequence, smaller lenders may reduce their interest rates, thereby “cheapening” lending to encourage consumption. But in order to stop high inflation, these policies must eventually be changed since they are unsustainable. If individuals are excessively dependent on cheap financing and government support, that might trigger a recession.

The use of iron contributed to a revolution in agriculture and food production, which ultimately brought an end to the Bronze slump in Britain. Because of the complexity of modern economies, navigating recessions nowadays is much more challenging. However, each recession generates fresh information that may be used to better predict and prepare for recessions in the future.

General Motors will make a record-breaking $650 million investment in a US lithium mine to obtain the raw ingredients needed for electric vehicle batteries.

In exchange for exclusive rights to the lithium generated at Thacker Pass in the US state of Nevada, the US manufacturer will invest an initial $320 million by mid-2023, with an additional $330 million to come later.

In the second half of 2026, Lithium Americas’ Thacker Pass mine is anticipated to start producing enough of the silvery-white metal to power up to 1 million electric vehicles annually.

The US has just one active lithium mine, which is likewise situated in Nevada, despite being one of the most lithium-rich nations in the world. Conservation organizations have challenged Thacker Pass, and a court decision may determine its future in a matter of months.

For the manufacture of EVs in the future, lithium security of supply worries have climbed to the top. Due to shortages and delays in bringing additional production online, the price of the metal has increased more than ten times since the beginning of 2021.

This is a excerpt from video where Robert Kiyosaki discusses some financial insights with Alexandra. 

How to read a financial statement? -Robert Kiyosaki

You know when I was in business school, the most horrible subject of all was accounting, you know I was sound asleep, an accounting course and on top of that I argued with the accounting teacher because the accounting teacher had no idea what accounting was, that was an idiot.

So Rich Dad Poor Dad is more appropriate today because if you read Rich Dad Poor Dad this is all, it’s about it’s about a financial statement, income statement, balance sheet statement, of cash flow etc. how could it not be relevant when 99% of all people graduate from school don’t even know what a financial statement is?! And if they do they probably had the same accounting teacher I had. Mr. boring who wasn’t really an accountant he had a master’s in accountancy but he had never been an accountant, so that’s why I created the cash flow board game because it is, the accounting is the most important subject for individuals because this is what your banker wants to see.

Your banker wants to see our financial statement, this is your report card when you leave school if you have good financial statement, bankers will give you all the money you want see. Bankers have never asked me for my grades or my college I went through.

Why savers are losers?

There’s three kinds of money today. You guys gotta be aware of one is God’s money (gold, silver etc.) and God’s money is gold and silver so this silver and this is gold the reason I brought is most people don’t know what looks like and in this government my name was just fiat currency, which is the dollar the yen to pay SIL the Euro the yuan yeah, fake and everybody’s working hard for it just like eating fake food or drinking fake water, that’s why people are getting sick financially.

Because they working for fake money, yeah. okay and then those fake assets which with another part of their millennial the fake generation series but the reason I brought this (shows gold and silver coins) here is most people haven’t seen it this here is real silver, okay that’s what it looks like and so in 1972 and this here is gold yeah this is God’s money this is what it looks like the reason I call it God’s money is you can’t fake it you know you can fake it with a fake ETF like a gold ETF or a silver which I don’t touch cuz it smells as bad as the guys a print in that trap. you know I mean Jesus, but this is real money so you look at this here when I first started buying, that was a dollar forty, (silver) yeah. Today that’s sixteen dollars and this here is gold and the reason we bought it is most people haven’t seen or touch this is real this is God’s money. why does he has God’s money because it was here when the earth was created yeah and it’ll be here when we’re all dead and gone when you’re saving those fake dollars this will still be here yeah well those fake ETFs or those fake stocks.

So this here is called the greenbox ,these are there’s five hundred of these little tubes like this, five hundred points in here (Regular dollar, money) and this is one which is worth more God, yeah. this is worth more than all that, now the reason I say this is because for your generation this could be the biggest opportunity you’ll ever see, I’ll not make any Commission’s on this, but if you look at what happened with the fake Central Bank see the purpose of the central bank or the Fed or all you know the Japanese Bank the Bank of Japan the European Central Bank they pump out fake money. the purpose of central banks like the Fed is to protect the banks not, you there are criminal operation as far as I’m concerned. you’re gonna find most of my talks about the Fed. so I would recommend you guys buy this stuff don’t save money don’t save government money because they’re corrupt as hell as you know, save God’s money.

Lazard to examine a potential sale as its parent company, Digital Currency Group, suffers financial hardship as a result of the cryptocurrency platform's demise.

Lazard has been hired by CoinDesk to investigate the possibility of a sale.

Kevin Worth, CEO of CoinDesk, told The Wall Street Journal : “Over the last few months, we have received numerous inbound indications of interest in CoinDesk."

According to The Wall Street Journal, the offers for CoinDesk have approached $200 million. According to the narrative, CoinDesk made $50 million in income in 2022 from online advertising as well as its index and events businesses.

After parent organisation DCG became engaged in the FTX crisis, interest in the company, created in 2013, increased.

Genesis Global Trading, a DCG affiliate, is allegedly expected to file for bankruptcy this week, owing creditors $3 billion. Genesis warned of a possible bankruptcy as early as November 21, 2022, after revealing that it had $175 million tied up in the FTX group. This caused issues with the project's Earn lending scheme, which was a collaboration with Gemini, a crypto exchange controlled privately by the Winklevoss twins. Genesis was alleged to owe Gemini $900 million. Cameron Winklevoss has accused DCG of scamming its 340,000 clients and demanded the resignation of DCG CEO Barry Silbert

According to Jupiter Asset Management, the Federal Reserve may slash interest rates this year, sending Treasury yields plummeting as the dangers of a recession become more serious.

According to Ariel Bezalel, a money manager in London, a worldwide slowdown caused by the most aggressive US rate rises since the 1980s may cause 10-year Treasury rates to fall to as low as 2% as investors seek safe haven assets. This is over 160 basis points lower than where the notes were trading on Wednesday, despite Treasury rates falling as European government debt rose.

“There is enough data for the Fed to soon go on hold,” he said. “My concern is if the Fed doesn’t back off soon, they could well cause a hard recession.”

While organizations ranging from Fidelity International to Pict-et Wealth Management are positive on US government debt, few investors are as enthusiastic as Bezalel after the bonds suffered their worst yearly loss on record as the Fed boosted interest rates to combat runaway price increases. Levels on 10-year Treasuries reached as high as 4.34% in October, but benchmark yields have since fallen as recession fears have increased. They were last trading at 2% or less in March.

The 10-year US Treasury yield decreased nearly five basis points on Wednesday, helped by advances in Europe's bond market. Italy excelled, with the 10-year yield falling as much as 16 basis points to 4.06%. Gilts increased as well, lowering the 10-year yield by 8 basis points to 3.48%.

Bezalel, whose business manages $53 billion, has positive bets on US, Australian, and Korean government debt, anticipating that the bonds will rise in value in the case of a slump.

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