Thursday, October 6, 2022

Singapore lender DBS second-quarter profit jumps 37%, beats market estimates By Reuters

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© Reuters. FILE PHOTO: A logo of DBS is pictured outside an office in Singapore January 5, 2016. REUTERS/Edgar Su

SINGAPORE (Reuters) – Singapore’s DBS Group (OTC:) Holdings reported a better-than-expected 37% rise in quarterly net profit on Thursday as Southeast Asia’s largest lender benefited from broad-based loan growth and lower credit costs in its home market.

The bank reported profit for April-June increased to S$1.7 billion from S$1.25 billion a year earlier, and compared with an average estimate of S$1.42 billion from five analysts, according to Refinitiv data.

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