DBS’s Quarterly Profit Beats Estimates on Lending Margins
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DBS Group Holdings Ltd., Southeast Asia’s largest bank, reported second-quarter profit that beat analysts’ estimates on improved lending profitability and higher loan growth.
Net income rose 9 percent to S$969 million ($776 million) for the three months ended June 30 from S$887 million a year earlier, the Singapore-based company said in a statement to the stock exchange today. That beat the S$938 million average of six analysts’ estimates compiled by Bloomberg. The lender’s net interest margin widened to the highest in seven quarters.