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Fourth-quarter net profit was 11 per cent below the previous quarter, partly reflecting seasonal trends - PHOTO: SPH
DBS Group Holdings on Wednesday said fourth quarter 2012 net
profit rose by a lower 4 per cent to S$760 million as the tax rate had
halved in fourth quarter 2011 from a finalisation of prior years' tax
assessments.
Fourth-quarter net profit was 11 per cent below the previous quarter, partly reflecting seasonal trends.
For full-year 2012, net profit reached a record S$3.81 billion, which included divestment gains of S$450 million. A gain of S$450 million was recorded for the partial divestment of a stake in the Bank of Philippine Islands. Excluding the gains, net profit rose 11 per cent from the previous year to S$3.36 billion.
Return on equity before the divestment gains rose to 11.2 per cent, the best in five years.
Fourth-quarter net profit was 11 per cent below the previous quarter, partly reflecting seasonal trends.
For full-year 2012, net profit reached a record S$3.81 billion, which included divestment gains of S$450 million. A gain of S$450 million was recorded for the partial divestment of a stake in the Bank of Philippine Islands. Excluding the gains, net profit rose 11 per cent from the previous year to S$3.36 billion.
Return on equity before the divestment gains rose to 11.2 per cent, the best in five years.
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