The Business Times
business-time-50

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

google-preferred-sourceAdd BT as a preferred source
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

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More