Singapore's DBS Group reports 15% Q1 profit increase to S$2.96bn, driven by lending income and wealth management fees.

Singapore's largest bank, DBS Group, reported a 15% increase in its first-quarter profit to S$2.96bn ($2.18bn), exceeding analysts' expectations. The strong growth was driven by higher lending income and robust wealth management fees. DBS declared an interim dividend of S$0.54 per share, and CEO Piyush Gupta expects total income and earnings to be better than previously guided.

May 02, 2024
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