"Net interest margin rose for the first time in three years and accelerated in the second quarter, while business momentum and asset quality were sustained," DBS CEO Piyush Gupta (file pic) said in the results statement on Thursday.
SINGAPORE: Singapore's DBS Group DBSM.SI reported a 7% rise in quarterly net profit that came in slightly above market estimates and gave a robust outlook as Southeast Asia's largest lender gains from sharply higher interest rates.
Singapore banks are also benefiting from a rebound in economic activity in the Asian financial hub after the government relaxed most of its COVID-19 restrictions in April.
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