SINGAPORE: DBS Group, South-East Asia's biggest lender, yesterday exceeded expectations by posting an 11% increase in quarterly profit on strong loan growth, despite taking a small hit from the credit market turmoil.
The bank set aside S$70mil for its exposure to the US subprime mortgage debt, marked down S$42mil against its exposure to an investment vehicle that invests in risky debt derivatives and took a S$38mil charge on its stake in Thailand's TMB Bank.
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