Southeast Asia's largest bank reports quarterly profit rose 8 percent [CNBC]
DBS GROUP HLDGS LTD S/ADR (DBSDY)
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Source: CNBC
Southeast Asia's largest bank quarterly profit rose 8 percent, helped by higher interest rates Ore Huiying | Bloomberg | Getty Images Customers stand at counters inside the DBS Group Holdings Ltd. flagship bank branch in Singapore, on Thursday, Aug. 3, 2017. Singapore's After three years of strong loans growth, the sector faces tougher times as Singapore's export-reliant economy slows, partly due to a trade war between China United States. DBS, nearly 30 percent owned by state investor Temasek Holdings, forecast mid-single-digit loan growth and high single-digit income growth for 2019. Net profit came in at S$1.32 billion ($973.3 million) for October-December versus S$1.22 billion a year earlier, and compared with an average estimate of S$1.34 billion from three analysts, according to data from Refinitiv. DBS's full-year profit jumped 28 percent to a record S$5.63 billion as Singapore banks benefited from higher interest rates. DBS kicked off the reporting season for the sector, with
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