DBS beats expectations with 20% rise in Q4 profit to S$1 billion

Singapore

DBS Group reported better-than-expected fourth-quarter net profit of S$1 billion, up 20 per cent on higher margins for loans and broad-based non-interest income.

Singapore's biggest bank said on Monday that net profit for the three months ended Dec 31, 2015, was S$1 billion, versus S$838 million a year earlier, and above an average forecast of S$978 million from six analysts polled by Reuters.

Net profit for the 2015 full year, including one-off item of S$136 million, rose 10 per cent to a record S$4.5 billion, from 2014's S$4.05 billion, which included one-off item of S$198 million. Total income for FY2015 crossed S$10 billion for the first time to S$10.8 billion.

Return on equity rose from 10.9 per ce…