DBS Group Holdings' first quarter profit rises 2% to a record $950 million

DBS Group Holdings posted a solid set of first quarter results on Thursday morning, with profit for the first three months of the year at a record $950 million.

This was up 2 per cent from the same quarter last year. This was on the back of a 7 per cent increase in total income from a year ago to $2.32 billion.

Net interest income fell 1 per cent to $1.33 billion, while fee and commission income grew 25 per cent to $507 million and other non-interest income spiked 17 per cent to $483 million.