DBS hits 2-month high as earnings beat forecast
REUTERS - Shares in DBS Group Holdings rose to their highest in two months, heading towards their biggest daily rise in three weeks on better-than-expected quarterly results.
The biggest bank in Southeast Asia reported a 10 per cent rise in quarterly profit, boosted by strong growth in loans and higher fees.
DBS shares rose as much as 2.3 per cent to $17.09 in early trade, among the top three performers on Singapore's Straits Times Index. The index was up 1 per cent.
The bank gave up its bid on Wednesday to take a controlling stake in PT Bank Danamon Indonesia as Indonesia's central bank had only allowed it to take as much as 40 per cent stake.