SINGAPORE: DBS Group Holdings' second-quarter net
profit rose 10 per cent to S$887 from a year earlier due to strong
growth in net interest income.
Net interest income rose four per cent on-year to S$1.38 billion while non-interest income increased by 86 per cent to S$450 million, DBS said in a statement on Thursday.
Income from fees and commissions went up by 26 per cent to S$477 million.
DBS’ chief executive Piyush Gupta said while it expects "some slowdown in the region in the short term, Asia's long-term growth story is intact".
Mr Gupta added that DBS "will be watchful and disciplined as we continue to entrench our position as a leading Asian bank."
DBS on Wednesday announced that it has dropped a bid to acquire Indonesia's PT Bank Danamon.
DBS said its agreement to purchase Temasek Holdings' 67.37 percent stake in Danamon, held by a unit of Temasek's Fullerton Financial Holdings, will lapse after August 1.
Mr Gupta on Wednesday said DBS would remain invested in Indonesia.
Net interest income rose four per cent on-year to S$1.38 billion while non-interest income increased by 86 per cent to S$450 million, DBS said in a statement on Thursday.
Income from fees and commissions went up by 26 per cent to S$477 million.
DBS’ chief executive Piyush Gupta said while it expects "some slowdown in the region in the short term, Asia's long-term growth story is intact".
Mr Gupta added that DBS "will be watchful and disciplined as we continue to entrench our position as a leading Asian bank."
DBS on Wednesday announced that it has dropped a bid to acquire Indonesia's PT Bank Danamon.
DBS said its agreement to purchase Temasek Holdings' 67.37 percent stake in Danamon, held by a unit of Temasek's Fullerton Financial Holdings, will lapse after August 1.
Mr Gupta on Wednesday said DBS would remain invested in Indonesia.
- CNA/DowJones/fa
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