Singapore bank DBS reports Q1 profit jumps 43% to new high

SINGAPORE (Reuters) -Singapore’s biggest bank, DBS Group (OTC:), reported a 43% jump in quarterly profit on Tuesday to a record high, citing higher net interest margin, sustained business momentum and resilient asset quality.

DBS, which is also Southeast Asia’s largest lender by assets, said January-March net profit rose to S$2.57 billion ($1.92 billion) from S$1.8 billion a year ago. This beats the mean estimate of S$2.44 billion from five analysts polled by Refinitiv.

($1 = 1.3362 Singapore dollars)

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