Back on Track: DBS' 1Q Result Solid as Wealth Management and Trading Income Recover
As expected, narrow-moat DBS Group’s first-quarter result was solid, bouncing back from a generally weak fourth quarter for most banks in the region. Net profit of SGD 1.65 billion was 9% higher than the same period last year and materially higher than SGD 1.32 billion in the fourth quarter. The weak fourth-quarter result was due to soft capital market conditions, resulting in lower wealth-management and brokerage revenue. A recovery in capital markets in the first quarter saw improved investor ...DBS Group Holdings is an investment holding, treasury and funding vehicle for itself and its subsidiaries. Co.'s main subsidiary is DBS Bank Ltd, which is engaged in a range of commercial banking and financial services, principally in Asia. Co.'s various business segments are: Consumer Banking/ Wealth Management, which provides individual customers with a range of banking and related financial services; Institutional Banking, which provides financial services and products to institutional clients; as well as Treasury, which provides treasury services to corporations, institutional and private investors, financial institutions and other market participants.
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