DBS Q1 profit falls 10% in weak markets, revenue slips 3%

2022.04.29 02:19

FILE PHOTO: A logo of DBS bank is seen in Taipei, Taiwan, January 28, 2022. REUTERS/Ann Wang

SINGAPORE (Reuters) – DBS Group (OTC:DBSDY) Holdings reported a 10% decline in quarterly profit after net income at Southeast Asia’s largest lender fell 3%, with weaker markets weighing on its wealth management business and treasury market activities.

The Singapore-based lender’s net profit fell to S$1.8 billion ($1.30 billion) in January-March from a record S$2 billion a year earlier but came above an average estimate of S$1.63 billion from six analysts, according to Refinitiv data.

($1 = 1.3868 Singapore dollars)

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