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DBS confident about strong fee income growth in H2 2023, but warns loans may slow

Bank sees S$12 billion of net new inflows in H1, half from North Asia

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Yong Hui Ting
Michelle Zhu

Yong Hui Ting &

Michelle Zhu

Published Thu, Aug 3, 2023 · 02:26 PM
    • DBS has been hit by higher funding costs due to rising interest rates this year, leading to a negative drag on profitability of the bank’s assets. 
    • DBS has been hit by higher funding costs due to rising interest rates this year, leading to a negative drag on profitability of the bank’s assets.  PHOTO: CHONG JUN LIANG, ST

    FEE income growth for Singapore’s largest lender is expected to remain “quite robust”, said DBS CEO Piyush Gupta in the Q2 earnings announcement on Thursday (Aug 3). 

    He expects growth in the segment to come from higher card spending, as well as an expansion in the bank’s wealth-management segment. 

    This comes after DBS recorded a 7 per cent rise in its second-quarter commercial book net fee income to S$823 million – the first year-on-year increase in six quarters. 

    DBSPiyush Gupta

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