SINGAPORE, Aug 7 — DBS Group raised its full-year profit guidance today after posting quarterly earnings that beat estimates, as Singapore’s biggest bank reaped the benefits of...
Cops arrest 48 owners, workers of durian plantations for illegal occupation of Pahang State Agricultural Development Corporation land in Raub
Singapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes and policies favourable towards family offices and trusts. DBS shares rose 3.4 per cent to S$33.86 by this afternoon following the earnings release, outperforming the broader market’s 1.8 per cent increase.
Its total income growth is anticipated to be a high-single digit, cost-income ratio at around 40 per cent and specific provisions at 10 to 15 basis points, lower than the 17 to 20 basis point projected in May, according to his presentation slides.
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