SINGAPORE: DBS Group reported a 68 per cent rise in quarterly profit on Monday (Feb 13) as rising interest rates boosted its net interest margins, but Southeast Asia's largest bank by assets said that interest rate increases would moderate this year. DBS, the first Singapore bank to report this season, sai
SINGAPORE: DBS Group reported a 68 per cent rise in quarterly profit on Monday as rising interest rates boosted its net interest margins, but Southeast Asia's largest bank by assets said that interest rate increases would moderate this year.
DBS, the first Singapore bank to report this season, said October-December net profit rose to a record S$2.34 billion compared with an average estimate of S$2.16 billion from three analysts, according to Refinitiv data, and S$1.39 billion) in the same period a year earlier. DBS, which earns most of its profit from Singapore and Hong Kong, announced a special dividend of 50 Singapore cents per share.
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