Singapore's DBS Q1 core net profit up 10%, beats forecast

SINGAPORE: DBS Group Holdings, Singapore's biggest bank, on Monday posted a 10 percent jump in core first-quarter net profit, above analysts' estimates, as double-digit loan growth boosted net interest income.

DBS said net profit for the January-March period came to S$1.133 billion ($850.54 million), against an average forecast of S$1.027 billion from six analysts polled by Reuters.

That compares with a net profit before exceptional items of S$1.033 billion in the same period a year earlier.

Including a one-time gain from a property disposal, net profit rose to S$1.269 billion in the first quarter from S$1.231 billion a year earlier. - Reuters