DBS Q4 profit up 37%; loans and CASA at record levels ahead of Fed hikes

Megan Cheah

Published Mon, Feb 14, 2022 · 07:53 AM

DBS D05 : D05 0%sees itself in a strong position heading into a year of impending rate hikes, with loan growth and CASA (current account and savings account) ratios at their highest levels and asset quality improving as economies continue to rebound.

On Monday (Feb 14), the lender reported a net profit of S$1.4 billion for the fourth quarter ended Dec 31, 2021, up 37 per cent from a year ago on higher fee income and lower allowances.

Full-year net profit jumped 44 per cent to a record S$6.8 billion, though slightly below the S$6.9 billion estimate from analysts polled by Bloomberg.

Return on equity also increased from 9.1 per cent to 12.5 per cent.

Calling it the best performance in the last decade, DBS chief Piyush Gupta said the bank was able to deliver record profits last year despite the collapse in interest rates that had wiped out some S$3 billio…