DBS Q2 profit up 17% to S$1.6b; keeps loan growth forecast. YahooFinance
* Q2 net interest income up 9% to record high* Sector faces challenging outlook in weak economy SINGAPORE, July 29 - DBS Group Holdings Ltd beat market estimates with a 17% increase in second-quarter profit as rising interest rates in Singapore and Hong Kong pushed the biggest Southeast Asian lender's net interest income to a record high.
Analysts however say the outlook for banks is getting challenging, with interest rates declining and Singapore's economy growing at its slowest annual pace in a decade in the second quarter due to a drop in manufacturing output and exports. The results"reflected the strengths of an entrenched broad-based franchise that is well placed to nimbly navigate market volatility," he added.
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