Wednesday

More profit than ever in DBS Singapore

DBS Bank, the most preferable bank of Singapore has said that their profit has grew up to 16% more which is the highest within the 1st quarter.

Southeast Asia’s largest bank said Friday that earnings jumped to a record 933 million Singapore dollars ($752 million) for the three months ended March 31 compared with a profit of SG$807 million a year earlier.

DBS said net interest income increased 19 percent to SG$1.34 billion as loan volume soared 26 percent while non-interest income rose 4 percent to SG$820 million on stronger trading and investment revenue.

DBS Chief Executive Piyush Gupta said the strong quarter “was underpinned by sustained loan growth, broad-based non-interest income, as well as higher contributions from all our markets.”