SINGAPORE: DBS Group reported a 37% rise in quarterly profit, supported by an enchancment in asset high quality at Southeast Asia’s largest bank however the consequence was shy of market estimates.
“We stay up for the approaching yr with a prudently managed steadiness sheet that’s poised to profit from rising rates of interest,” DBS Chief Executive Officer Piyush Gupta mentioned in an announcement on Monday.
DBS, the primary Singapore bank to report this season, mentioned internet profit for October-December rose to S$1.389 billion ($1.03 billion).
That compares with a mean estimate of S$1.47 billion from 4 analysts polled by Refinitiv and follows a very weak pandemic-hit yr when profit tumbled to a three-year low. ($1 = 1.3464 Singapore {dollars})- Reuters
