DBS posts 43% rise in Q1 profit to record S$2.6 billion

DBS posted a record net profit of S$2.6 billion for its first quarter ended Mar 31, up 43 per cent from S$1.8 billion a year earlier.

The earnings beat the S$2.3 billion consensus forecast in a Bloomberg survey of three analysts.

In an earnings briefing on Tuesday (May 2), DBS chief executive Piyush Gupta said the bank had sustained growth in its net interest margins (NIM) as well as a healthy business momentum.