Thursday 28 Mar 2024
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SINGAPORE (Aug 2): DBS Group Holdings reported 2Q18 net profit for rose 20% from a year ago to S$1.37 billion from a year ago, supported by double-digit percentage growth in net interest income and fee income but moderated by weak trading income. Total income rose 10% to S$3.20 billion.

Compared to the previous quarter’s record, net profit fell 10% as other non-interest income declined 44%. Business momentum over the quarter was healthy as consumer and non-trade loan growth, underlying net interest margin progression and overall fee income trends were sustained.

Net interest income increased 18% from a year ago and 5% from the previous quarter to S$2.22 billion. Loans increased 12% from a year ago from broad-based growth, and 1% in constant-currency terms from the previous quarter. Net interest margin rose 11 basis points from a year ago and two basis points from the previous quarter to 1.85% from higher interest rates in Singapore and Hong Kong... (Click here to read the full story)

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