SINGAPORE - DBS Group Holdings, Singapore's and South-east Asia's biggest lender, reported on Monday a forecast-beating 15 per cent rise in quarterly profit, supported by higher wealth management fees.
Annualised earnings per share stood at $2.50 for the quarter, up 15.7 per cent from $2.16 a year ago. DBS CEO Piyush Gupta said, “The record operating results for the quarter once again attest to the strength of our business. Our transformed franchise, nimble execution and balance sheet strength will put us in good stead to deliver healthy shareholder returns despite the prevailing macroeconomic and geopolitical headwinds.”
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