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For the fourth quarter, net profit reached a new quarterly record of SGD 1.22
billion, up 33% from a year ago. Total income rose 10% to SGD 3.06 billion, staying
above the SGD 3 billion mark for the second consecutive quarter, as net interest income
rose 15% to cross the SGD 2 billion mark for the first time. Total allowances halved.

The recent finalisation of Basel capital reforms has provided clarity on future regulatory requirements. They have a benign impact on DBS, enabling its capital requirements to be rationalised. In view of this, the Board suspended the scrip dividend with immediate effect. It also determined that ordinary dividends can be sustained at higher levels and affirmed the policy of increasing them over time in line with earnings growth.

For the final dividend of 2017, it proposed a payout of 60 cents per share,which will bring the full-year ordinary …