DBS Group reported a higher-than-expected 68% rise in quarterly profit as rising interest rates boosted its net interest margins and Southeast Asia's largest bank by assets retained its full-year outlook for mid-single-digit loan growth.
"Our business pipelines are healthy and asset quality robust. We expect confidence to return to markets in the coming year as interest rate increases ease and China reopens," Gupta said.
The lender, which earns most of its profit from Singapore and Hong Kong, announced a special dividend of 50 Singapore cents per share, citing its strong earnings and capital position.
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