DBS Group Holdings has reported net profit of $2.01 billion for the 1QFY2021 ended March, making it the first time that the bank has crossed $2 billion in its quarterly earnings.

The higher net profit was attributable to accelerated business momentum with faster loan growth, as well as record fee income.

The 1QFY2021 net profit stood 72% higher y-o-y compared to net profit of $1.17 billion for the 1QFY2020 and nearly double the net profit of $1.01 billion in the 4QFY2020.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook