Singapore's DBS Group Holdings (DBSDF.PK,DBSDY.PK) reported that its first quarter net profit rose by 2% to S$950 million from S$933 million last year due to loan and deposit volume growth as well as a broad-based increase in non-interest income.
Profit before tax was S$1.169 billion, 1% higher than S$1.153 billion in the prior year quarter.
Total income for the quarter improved 7% to S$2.317 billion from S$2.156 billion in the comparable period a year ago.
Net interest income was S$1.327 billion, compared to S$1.336 billion last year. Net fee and commission income grew 25% to S$507 million from S$406 million in the previous year.
Other non-interest income increased 17% to S$483 million from S$414 million a year earlier.
"After a slower second half in 2012 we started the year on a very solid note. Business momentum is strong and growth has been broad-based showing the impact of our investments across all lines of business," Chief Executive Piyush Gupta stated.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.