DBS profit up 8.5pc on strong loan growth

Singapore’s biggest lender, DBS Group Holdings, reported an 8.5 per cent increase in quarterly profit that came in line with market expectations, boosted by strong loan growth, but the bank flagged pressures on asset quality. DBS, the last of Singapore’s big banks to post results, reported net profit of S$1.14 billion (RM3.6 billion) in the three months ended June, versus S$1.05 billion a year earlier and an average forecast of S$1.15 billion from five analysts compiled by Reuters. Total income was flat at S$2.92 billion.