DBS Sees Higher Margin After Quarterly Profit Tops Estimates
- Net income gains 48% to S$2.7 billion in the second quarter
- Banks around the world are benefiting from higher rates
This article is for subscribers only.
DBS Group Holdings Ltd., Southeast Asia’s largest bank, signaled improving margins in the second half of this year after higher interest income and fees buoyed quarterly profit.
Chief Executive Officer Piyush Gupta sees an “upside bias” to net interest margin as US interest rates edge higher, according to a statement Thursday. Net income, excluding one-time items, rose 48% to S$2.7 billion ($2 billion) in the three months ended June 30, surpassing the average estimate of S$2.43 billion from seven analysts surveyed by Bloomberg.