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DBS posts record quarterly net profit of $2.01 bil in 1Q21; maintains dividend of 18 cents per share

Felicia Tan
Felicia Tan4/30/2021 7:26 AM GMT+08  • 4 min read
DBS posts record quarterly net profit of $2.01 bil in 1Q21; maintains dividend of 18 cents per share
It has been “an extraordinary quarter… as we fired on all cylinders,” says DBS CEO Piyush Gupta.
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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.

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