DBS Posts 20% Gain in 2nd-Quarter Profit
- Lower trading income clouded gains from lending and wealth
- Shares fall as much as 3%, biggest drop in almost a month
This article is for subscribers only.
DBS Group Holdings Ltd. shares fell after second-quarter results suffered from what Chief Executive Officer Piyush Gupta described as the worst performance in its treasury and markets operation since he took the top job almost a decade ago.
While net income rose 20 percent to S$1.37 billion ($1 billion) in the three months ended June, that missed analysts’ expectations for S$1.44 billion. Shares in Southeast Asia’s largest lender slid as much as 3 percent, the biggest intraday decline since July 6.