Singapore’s DBS Reports Strong Profits Amid Positive Outlook From Rising Rates

(The Straits Times) — DBS Group Holdings posted on Monday a better-than-expected increase in fourth-quarter earnings on the back of higher loan growth and fee income, as well as lower allowances set aside for bad loans.

Chief executive Piyush Gupta said widely anticipated interest rate hikes will boost the bank’s net interest margin (NIM) — a key gauge of lenders’ profitability — but cautioned that uncertainties remain.