DBS Q2 results show the bank reported a net profit of S$1.37bn ($1bn) for the second quarter of 2018, a surge of 20% compared to the previous year.
The bank’s pre-tax profit for the quarter ended 30 June 2018 was S$1.68bn, an increase of 24% from S$1.35bn in the same period last year. Total income increased 10% to S$3.2bn from S$2.92bn a year earlier.
Go deeper with GlobalData
Compared to the previous year, net interest income jumped 18% to S$2.22bn while net fee and commission income rose 11% to S$706m. Expenses during the period increased 12% year-on-year to S$1.42bn.
DBS Q2 results
The bank’s consumer banking /wealth management arm posted pre-tax profit of S$593m for the second quarter of 2018, a 26% surge from S$469m in the corresponding quarter of 2017. The unit’s total income soared 23% to S$1.39bn on a year-on-year basis.
The bank’s institutional banking unit posted a pre-tax profit of S$891m for the second quarter of 2018, a 71% surge from S$521m last year. The division’s total income rose 9% to S$1.42bn from S$1.29bn a year ago.
DBS Group CEO Piyush Gupta said: “Amidst heightened uncertainty and market volatility, business momentum was sustained in the second quarter. While there are gathering clouds, the region’s prospects remain intact, enabling us to continue capturing growth opportunities and generating stronger shareholder returns in the coming quarters.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
