DBS Group Holdings reaches S$100 billion market cap after the company’s impressive performance in the first quarter of the financial year 2024, which concluded on March 31. The company’s share price experienced a surge, buoyed by yet another record-breaking net profit of S$2.96 billion for 1QFY2024.
This surge in share price comes amidst global economic shifts, notably, the recent indication by the US Federal Reserve of potentially prolonged interest rate policies due to persistent inflationary pressures. Treasury customer sales also reached new heights, hitting S$621 million, a notable 44% increase year-on-year. However, market trading income saw a slight decline of 9% year-on-year to S$246 million, attributed to higher funding costs.
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