DBS Group’s net profit jumped 15% to $1.12b in Q2

Due to higher net interest income and fee income.

DBS Group reported that its net profit grew 15% year-on-year to $1.12 billion in the second quarter, on back of a 16% growth in total income.

Both net interest income and fee income reached new quarterly highs. Net interest income grew 12% to $1.74b, while non-interest income jumped 25% to $947m.

For the first half, net profit rose to a record $2.39b, partly due to a one-time gain of $136m from the disposal of a property investment in the first quarter. Excluding the gain, net profit rose 12% to $2.25b.

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