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Singapore's DBS reports 14% rise in 4Q earnings

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SINGAPORE: DBS Group Holdings Ltd, Southeast Asia's biggest lender, reported a 14% rise in quarterly profit on Thursday, just above market estimates, on broad-based business growth.

CEO Piyush Gupta said assuming the virus was controlled by the summer, the revenue impact to DBS would be around 1%-2%.

The Singapore-based bank reported net profit of S$1.51 billion for October-December versus S$1.32 billion a year earlier, and compared with an average estimate of S$1.48 billion from five analysts, according to data from Refinitiv.

 

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