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

DBS D05 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.