DBS chief executive Piyush Gupta (pic) said: “This has been an extraordinary quarter for our business as we fired on all cylinders. Loan and deposit growth was robust, fees were strong and treasury had a record performance. At the same time, we remained disciplined on costs while asset quality was resilient.."
SINGAPORE: DBS Group on Friday trumped market forecasts with a 72% jump in first-quarter earnings as business forged ahead on all fronts with faster loan growth and record fee income.
Net profit for the three months to end-March rose to S$2.01bil (US1.57bil or RM6.4bil) from S$1.17bil a year ago – the first time quarterly earnings crossed the S$2bil mark and the first growth in more than a year.
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