DBS posts record Q2 net profit of S$3.08B, up 9% YoY, as Southeast Asia's largest bank lifts total income 6% to a record S$6.09B. First-half net profit also hit an all-time high of S$6.01B.
Singapore-based DBS Group, Southeast Asia's largest bank, reported a record net profit of 3.08 billion Singapore dollars (about 2.40 billion U.S. dollars) in the second quarter, up 9 percent year-on-year, as higher non-interest income offset the impact of a lower interest rate environment. Total income rose 6 percent to a record 6.09 billion Singapore dollars. First-half net profit climbed 5 percent to an all-time high of 6.01 billion Singapore dollars.
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