DBS Q1 profit up 9% to record S$1.65b
The buoyant results were propelled by higher margin, strong trading income and a S$100 million write-back due to improved credit quality
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Singapore
DBS Group Holdings posted a 9 per cent rise in Q1 earnings to a record S$1.65 billion on higher margin, strong trading income and a S$100 million write-back due to improved credit quality.
The first of the three local banks to report Q1 results, the stock jumped 3.6 per cent or 99 cents to S$28.40 as it decided to pay dividends four times a year instead of twice a year to provide shareholders with more regular income. For the first quarter, the bank is paying 30 cents per share, consistent with the previous financial year's payout of S$1.20 per share, it said.
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