DBS posts record quarterly profit, powered by lending income

SINGAPORE (Reuters) - DBS Group Holdings Ltd, Southeast Asia’s biggest lender, beat market estimates on Monday to post a record quarterly profit, as strong net interest income offset weakness in wealth management, brokerage and investment banking fees.

First quarter profit rose 8.5 percent on a year earlier, while DBS, the first Singapore bank to kick off the sector’s results, said the macro-economic environment had stabilized somewhat.

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