SINGAPORE (Reuters) – Singapore’s biggest bank DBS Group reported on Thursday a 48% rise in net profit in the second quarter from a year earlier on the back of stronger total income growth.
DBS, which is also Southeast Asia’s largest lender by assets, said April-June net profit surged to a quarterly record of S$2.69 billion ($2.01 billion) from S$1.82 billion a year earlier.
That beats the mean estimate of S$2.41 billion from four analysts polled by Refinitiv.
($1 = 1.3411 Singapore dollars)
(Reporting by Yantoultra Ngui; Editing by Chris Reese)
