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DBS, which is also Southeast Asia’s largest lender by assets, said April-June net profit hit a quarterly record high S$2.69 billion ($2.69 billion) compared to S$1.82 billion a year earlier.
This exceeded the average estimate of S$2.41 billion from four analysts surveyed by Refinitiv.
DBS’ net interest margin, a key profitability gauge, rose to 2.16% during the quarter from 1.58% a year earlier.
It declared a dividend of 48 Singapore cents per share.
($1 = 1.3411 Singapore dollars)
