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May 23
Business & Politics
More profit than ever in DBS Singapore

DBS Singapore, Profit Increment by iNewsToday

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.”

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