Dbs, Banks, Singapore Economy

Dbs, Banks

DBS Q1 profit surges 72% to record S$2 billion, flags strong growth

DBS Q1 profit surges 72% to record S$2 billion, flags strong growth

30/4/2021 4:41:00 AM

DBS Q1 profit surges 72% to record S$2 billion, flags strong growth

SINGAPORE: DBS Group trumped market estimates with a 72 per cent rise in quarterly net profit to a record high, as the bank benefited from strong ...

BookmarkSINGAPORE: DBS Group trumped market estimates with a 72 per cent rise in quarterly net profit to a record high, as the bank benefited from strong loan growth, improved asset quality and a robust wealth management business.DBS, Southeast Asia's largest bank, flagged bullish prospects in a recovering global economy and said its new non-performing assets formation was below pre-pandemic levels.

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AdvertisementAdvertisement"Results are in line with recent optimistic outlook given by Singapore's three banks, but importantly, the low credit costs were to reverse previously very prudent aggressive front loading last year, that helped too," said senior analyst Kevin Kwek at Stanford C. Bernstein.

Read more: CNA »

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DBS Q1 net profit jumps 72%, powered by broad-based growth

New era begins at Merck as pandemic cuts Q1 sales, profitMerck is entering a new era, with sweeping changes across its executive suite and the spinoff off its women's health and other businesses, a bid ...

Telenor posts Q1 loss after writing off Myanmar business following coupOSLO: Norway's Telenor wrote off the value of its Myanmar operation in light of the country's deteriorating security and human rights situation, ...

UOB's Q1 profit rises 18% on lower impairment chargesSINGAPORE: United Overseas Bank, reported an 18% rise in first-quarter net profit on Thursday (May 6), boosted by strong fee income growth, a ... امریکہ اور اسرائیل دجال کے لئے ایک مندر بنانے کا منصوبہ بنا رہے ہیں۔ محمد قاسم کی رائے ، فلسطین کو مکمل طور پر ختم کرنے اور دجال کا ہیکل بنانے کے لئے صدر امریکہ اور اسرائیل کے اجلاس کی ایک نظر ہے۔ براہ کرم ملاحظہ کریں

OCBC doubles Q1 profit on lower credit allowancesSINGAPORE: Oversea-Chinese Banking Corp (OCBC) beat market estimates with a more than doubling of its quarterly profit on Friday (May 7), thanks ...