DBS Q4 net profit climbs 8 pct, supported by rise in net interest margin

The Straits Times

DBS Group Holdings Ltd , Singapore’s biggest lender, reported an eight percent rise in quarterly profit that came in line with market expectations, powered by a robust increase in its net interest margin.

Net profit came in at S$1.32 billion (US$973.3 million) for October-December versus S$1.22 billion a year earlier, and compared with an average estimate of S$1.34 billion from three analysts, according to data from Refinitiv.

Singapore banks have benefited from strong loans growth in the last few years, but are gearing up for tougher times as economies in the region are under pressure, partly due to a trade war between China and the United States.