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flag DBS, Singapore's largest bank, reports a 2% Q1 profit drop due to higher taxes, but raises dividend.

flag DBS, Singapore's largest bank, reported a 2% drop in Q1 net profit to S$2.9 billion, due to higher tax expenses from the 15% global minimum tax. flag Despite the decline, pre-tax profit hit a record S$3.44 billion, up 1% year-on-year. flag The bank declared a total dividend of S$0.75 per share, up from S$0.54 previously. flag DBS also noted increased macroeconomic risks and market volatility due to trade tensions.

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