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

Reuters2021-04-30

DBS Group trumped market estimates with a 72 per cent rise in quarterly profit to a record high on strong loan growth and stabilising asset quality, while highlighting bullish prospects in a recovering global economy.

"This has been an extraordinary quarter for our business as we fired on all cylinders. Loan and deposit growth were robust, fees were strong and treasury had a record performance," Piyush Gupta, CEO of Southeast Asia’s largest bank, said in the results statement on Friday.

The Singapore-based lender reported a quarterly net profit of S$2.0 billion for January-March, above an average forecast of S$1.43 billion from three analysts according to Refinitiv data and versus S$1.16 billion a year-ago.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • 开始动
    2021-05-01
    开始动
    ? 
  • Jojofi
    2021-05-01
    Jojofi
    Wow! This is great news as it means the overall economy has largely recovered especially banking sector. Profits and revenue will increase with more investment. #EconomyRecover #Banking
  • PandaWynn
    2021-04-30
    PandaWynn
    ?
  • KenT
    2021-04-30
    KenT
    [財迷] 
  • MrPussalia
    2021-04-30
    MrPussalia
    Insane results
  • Singlish
    2021-04-30
    Singlish
    Excellent result
    • ckww: 
      But sure if it can sustain.
Leave a comment
12