SINGAPORE (Reuters) -Singapore’s biggest bank, DBS Group, reported a 43% jump in quarterly profit on Tuesday to a record high, citing higher net interest margin, sustained business momentum and resilient asset quality.
DBS, which is also Southeast Asia’s largest lender by assets, said January-March net profit rose to S$2.57 billion ($1.92 billion) from S$1.8 billion a year ago. This beats the mean estimate of S$2.44 billion from five analysts polled by Refinitiv.
($1 = 1.3362 Singapore dollars)
(Reporting by Yantoultra Ngui; Editing by Leslie Adler and Sonali Paul)