The 1QFY2021 net profit stood 72% higher y-o-y compared to net profit of $1.17 billion for the 1QFY2020 and nearly double the net profit of $1.01 billion in the 4QFY2020.
DBS Group Holdings has reported net profit of $2.01 billion for the 1QFY2021 ended March, making it the first time that the bank has crossed $2 billion in its quarterly earnings.
The higher net profit was attributable to accelerated business momentum with faster loan growth, as well as record fee income.
