SINGAPORE: Singapore's biggest bank DBS Group reported on Thursday (May 2) first-quarter results that trumped expectations with broad-based growth and said it expects net profit to exceed last year's record result.
SINGAPORE: Singapore's biggest bank DBS Group reported on Thursday first-quarter results that trumped expectations with broad-based growth and said it expects net profit to exceed last year's record result.
"We are optimistic that total income and earnings will be better than previously guided and we will be able to deliver another year of strong shareholder returns," he added.Singapore has benefited from strong inflows of wealth from Asia, including China, as well as Europe and the Americas, drawn in by the city-state's political stability in recent years.
DBS is also projecting total income growth to be 1 to 2 percentage points above previous guidance of"mid-single-digits" according to slides accompanying the results. Singapore rivals United Overseas Bank and Oversea-Chinese Banking Corporation report results next week.ended DBS's six-month pause
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