Singapore's largest bank DBS beats forecast, quarterly profit jumps 17%
Publishing timestamp: 2023-11-05 22:56:36
Summary
DBS Group, Singapore's largest bank, reported a 17% jump in third-quarter profit, reaching 2.63 billion Singaporean dollars ($1.94 billion). The bank attributed its success to the high-interest rate environment and the expansion of its net interest margin. DBS also declared a dividend of 48 Singapore cents for each ordinary share for the third quarter. The CEO of DBS, Piyush Gupta, expressed optimism for the future, citing higher interest rates and a strong balance sheet as factors that will benefit the bank's earnings.
Sentiment: POSITIVE
Keywords: united overseas bank ltd, business news, east asia, stock markets, india, asia economy, forex markets, dbs group holdings ltd, singapore, banks, currency markets, south asia, financials, debt and bond markets,