SINGAPORE (Aug 4): DBS Group achieved record earnings of $2.35 billion for first-half 2017, up 4% from a year ago as total income reached a half-year high of $5.81 billion, expenses decline with digitalisation and with lower allowances.
For the second quarter, earnings rose 8% to $1.14 billion. Total income of $2.92 billion was just shy of a quarterly high as loans grew 2% over the quarter and fee income trends were sustained. Total allowances were 17% lower.
Net interest income was 3% higher than a year ago at $1.89 billion. Loan growth of 6% more than offset the impact of a 13 basis point decline in net interest margin to 1.74%.