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Singapore : Record Q1 earnings for DBS with net profit of $933million
Publish Date : 30-Apr-2012
A sharp increase in loans helped power DBS Group Holdings to record first-quarter earnings, easily beating market expectations.
The lender kicked off the bank reporting season with a net profit of $933 million for the three months to March 31, up 16 per cent from the $807 million racked up last year.
The strong showing the highest quarterly earnings the bank has achieved - trumped an estimate of $755.2 million.
Return on equity for the quarter rose to 12.8 per cent, from 11 per cent last year.
