DBS Q2 net profit up 15 %, sees some uncertainty in H2

[SINGAPORE] DBS Group Holdings, Singapore's biggest bank, on Monday posted a better-than-expected 15 per cent rise in second-quarter net profit, helped by an eight basis point jump in interest rate margin and healthy loan growth.

DBS increased its first-half dividend to 30 cents a share from 28 cents a year ago.

Net profit rose to S$1.117 billion for the April-June period, from S$969 million in the same period a year earlier. The result was above an average forecast of S$1.06 billion from seven analysts polled by Reuters.

DBS said its second-half outlook has some uncertainty, but loan and business pipelines remain healthy.

REUTERS