DBS Group Reports 10% Net Profit Increase in Q4
DBS Group, Singapore's largest bank, has announced a 10% rise in net profit for the fourth quarter. This growth was driven by both commercial banking and markets trading.
According to a stock exchange filing on Monday, DBS posted a net profit of S$2.62 billion ($1.93 billion) for the October-December period, up from S$2.39 billion a year earlier. This figure aligns with the analysts' consensus estimate of S$2.63 billion, based on data from LSEG.
The positive results mark the start of the earnings season for Singapore lenders. They reflect the ongoing strength of the banking sector in Southeast Asia.