DBS Profit Tops Estimates Amid Jump in Fee, Trading Income

Bloomberg
Aug 07

DBS Group Holdings Ltd. reported second-quarter profit that beat expectations, buoyed by a jump in income from trading and wealth fees.

Net income rose 1% to S$2.82 billion ($2.2 billion) in the three months ended June 30, Singapore’s largest lender said in a statement Thursday. That compared with the S$2.78 billion average estimate of analysts surveyed by Bloomberg News.

“Our ability to manage the balance sheet nimbly, grow deposits and capture market opportunities helped offset the external pressures,” Chief Executive Officer Tan Su Shan said in the statement.

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