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DBS Reports a Record Net Profit of S$3.7 billion for the First Half: 5 Highlights from the Bank’s Latest Earnings
By The Smart Investor  •  August 6, 2021
DBS Group (SGX: D05) is the third and final local bank to report its fiscal 2021 second quarter (2Q2021) and first-half (1H2021) earnings. OCBC Ltd (SGX: O39) and United Overseas Bank Ltd (SGX: U11), or UOB, had released their earnings a day before in which OCBC reported a surge in net profit while UOB hiked its dividend to a level higher than 2019. Singapore’s largest bank delivered both — its net profit hit a new record for 1H2021 while it also raised its year on year dividend. An uptick in business sentiment and resilient asset quality helped DBS to report a strong quarter, though a dip in net interest income dragged down overall revenue. Still, the lender reported record fee income and another write-back of allowances in a sign that the group believes the worst is over. Here are five highlights from DBS’ earnings that investors should take note. 1. A record set of earnings...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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