DBS Q1 earnings up 30% at $1.23b

Singapore

DBS Group Holdings yesterday posted better-than-expected first-quarter earnings, with core net profit up 9 per cent at a record $1.03 billion as it enjoyed higher loan volumes with improved margins.

Six analysts had an average forecast of $857 million as polled by Reuters.

It was the first time that quarterly earnings crossed the $1 billion mark. Including one-time items, net profit was $1.…