I was certainly not expecting this. DBS reported record quarterly profit of $2 billion in the 1st quarter of 2021. DBS CEO Piyush Gupta said, “This has been an extraordinary quarter for our business as we fired on all cylinders." 

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A brief summary:

- Net Interest Margin stabilised at 1.49% (same ratio as last quarter - 2020 Q4).
- Net interest Income is the only one that dropped (15%) compared to 2020 Q1.
- Net fee and commission income, and Other non-interest income exceeded pre-covid levels (compared to 2019 Q1).  This includes wealth management, transaction service fees and card fees.
- Net Book Value is $20.46.
- Dividends declared is $0.18. disappointing that MAS did not lift the dividends cap. 

The important ratios to take note of

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The ratios such as Return on Assets, Return on Equity, Non-performing loan rate, Common Equity Tier-1 ratio has shown improved.  
Based...