Select a page

Banking News

DBS finishing 2006 strongly

DBS finishing 2006 strongly

(30 October 2006 – Singapore) DBS has delivered net earnings of S$552 million (US$353 million) for the third quarter of 2006, up 32 percent from the corresponding period last year. The Singaporean bank said this meant net profit for the first nine months (excluding one-time gains recorded in the second quarter) increased 28 percent from a year ago to S$1.62 billion.

DBS said all revenue streams contributed to the improvement as interest and fee income grew on higher business volumes due to better economic conditions.

DBS vice-chairman and CEO Jackson Tai said the bank was working on being more disciplined and consistent in its performance, which had resulted in another quarter of strong operating results.

"Our customer franchise is delivering broad-based growth in our loan book, another quarter of record net interest income, and sustained fee income. Asset quality continued to be strong, giving us plenty of latitude to support our customers’ growth throughout the region," he said.
East & Partners's avatar

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.