DBS Group Holdings Ltd, Southeast Asia's biggest lender, reported an 8.5 pe...
FILE PHOTO: A DBS bank signage is pictured in Singapore September 5, 2017. REUTERS/Edgar Su/File Photo
SINGAPORE - DBS Group Holdings Ltd, Southeast Asia’s biggest lender, reported an 8.5 percent rise in quarterly profit on Monday to beat market estimates, powered by a rise in net interest income. The Singapore-based bank’s net profit came in at S$1.65 billion for the three months ending March versus S$1.52 billion a year earlier and an average estimate of S$1.48 billion from four analysts, according to Refinitiv I/B/E/S.
After three years of strong loans growth, Singapore’s banks are gearing up for tougher times as the city-state’s export-reliant economy slows, partly due to a trade war between China and the United States, analysts say.
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