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DBS beats expectations with S$1.2b Q1 earnings

First-quarter net profit down 5% year-on-year due to absence of a one-off item; core profit up 6%, with boost coming from higher margins and bancassurance business

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Mr Gupta says he does not expect the NPL rate - which rose to one per cent - to go much higher than 1.3 per cent this year.

Singapore

DBS Group Holdings on Tuesday posted a net profit of S$1.2 billion for the first quarter of 2016, down 5 per cent year on year due to the absence of a one-off item. By stripping out the one-off item, the bank's better-than-expected core earnings were up 6 per cent as it enjoyed