Shares of DBS Group Holdings are outperforming the broader Singapore stock market.
As at 11.14am, the stock is up 0.79% at $15.40, compared to a 0.77% fall in the benchmark Straits Times Index.
Singapore’s largest lender announced earnings of $1.2 billion for the first quarter of 2016, down 5% from a year ago.
But excluding the one-time items of about $136 million related to the gain from disposal of a property investment a year ago, the earnings were a record and 6% higher. Total income also reached a new high, rising 5% to $2.87 billion as net interest income grew 8% to $1.83 billion.
DBS also said that its balance sheet remains strong, even as its non-performing loan rate rose slightly to 1% in the first quarter compared with the previous quarter.
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As at 11.14am, the stock is up 0.79% at $15.40, compared to a 0.77% fall in the benchmark Straits Times Index.
Singapore’s largest lender announced earnings of $1.2 billion for the first quarter of 2016, down 5% from a year ago.
But excluding the one-time items of about $136 million related to the gain from disposal of a property investment a year ago, the earnings were a record and 6% higher. Total income also reached a new high, rising 5% to $2.87 billion as net interest income grew 8% to $1.83 billion.
DBS also said that its balance sheet remains strong, even as its non-performing loan rate rose slightly to 1% in the first quarter compared with the previous quarter.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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