It wasn’t too long ago when DBS Group Holdings Ltd (SGX: D05) reported its full-year 2020 earnings.
Investors were faced with ballooning provisions and compressed net interest margins as the lender navigated one of the worst pandemics in a century.
That said, CEO Piyush Gupta did sound a note of optimism in early February when he stated that economic data back then supported a strong economic rebound for 2021.
Fast forward to today, and DBS has announced a blowout set of earnings for its fiscal 2021’s first quarter (1Q2021).
Its net profit surged by 72% year on year to S$2 billion, achieving a first in the bank’s history.
Earnings estimates for DBS’ net profit hovered at S$1.44 billion, implying that DBS has handily beaten these forecasts.
Here are five other interesting facts about the bank’s latest earnings that investors should know about.
1. Record-high fee income
Net interest income (NII)
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