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Better margins, loan growth, non-interest income cushion DBS against Swiber fallout

But bank expects contagion from Swiber and has flagged weakness in S$900m exposure

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DBS Group Holdings confounded expectations by posting higher than expect net profit of S$1.05 billion, despite taking a S$150 million hit from Swiber.


THE three local banks' second quarter results were not expected to be exciting, rather a confirmation that loans, margins and earnings would be either flat or on a slow slide reflecting the weak economy and market uncertainties, all of which flew out the window when oil services