DBS profit up 8.5pc on strong loan growth

New Straits Times - - Business -

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.

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