Singapore-based DBS bank’s wealth management and consumer banking arm has increased its pre-tax profits to SG$ 1.47 billion in H1 2019 from SG$ 1.22 billion a year earlier.
Comparing individual quarters, Q2 2019 also saw an increase in pre-tax profits to SG$ 748 million from SG$ 593 million in the previous year.
In the first half of 2019, net interest income rose to SG$ 2.03 billion from SG$ 1.67 billion. Net fee and commission income remained more stable, rising slightly to SG$ 893 million from SG$ 868 million.
As a whole group, profit before allowances grew 21 percent from a year ago to SG$ 2.16 billion.
