DBS reports 8% rise in 4Q earnings to $1.32 bil; brings FY18 earnings to new record high

SINGAPORE (Feb 18): DBS Group reported 4Q earnings rose 8% to $1.32 billion from a year ago, bringing FY2018 earnings to a record high of $5.63 billion.

In the 4Q ended Dec, net interest income rose 11% to $2.33 billion. Net interest margin increased nine basis points to 1.87% with higher interest rates in Singapore and Hong Kong. Loans grew 6% in constant-currency terms to $345 billion.

Non-interest income fell 4% to $915 million. Fee income was stable at $635 million as increases in card, transaction service and loan-related fees were offset by declines in investment banking, wealth management and brokerage fees. Other non-interest income was 13% lower at $280 million from lower gains on investment securities.

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