The lower treasury markets trading income in H1 reported by the largest bank in Singapore was curbed by higher net interest rates, according to CEO Piyush Gupta.
DBS Group has posted robust earnings for the first half of 2023, with net profit soaring 45% year-on-year (YoY) to SG$5.26 billion (US$3.86 billion). Total income jumped up 34% YoY to SG$10 billion compared with the prior-year period, according to its latest earnings reports. The bank’s higher commercial book net interest margin (NIM), card fees, and treasury customer income buoyed its lower treasury markets trading income, which tumbled 36% YoY to SG$446m during the first six months of t
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