DBS posts 10% rise in 2Q net profit

DBS Bank has posted a 10 per cent rise in its second-quarter net profit from a year ago to $887 million on the back of higher total income.

Net interest income grew 4 per cent to a record $1.38 billion while non-interest income rose 49 per cent to $927 million, the bank said on Thursday.

Overall, total income climbed 19 per cent to $2.31 billion.

"While we expect some slowdown in the region in the short term, Asia's long-term growth story is intact," said chief executive Piyush Gupta.

"The bank's strong second-quarter showing is testament to the strength and resilience of our franchise and we will be watchful and disciplined as we continue to entrench our position as a leading Asian bank."

DBS has declared an interim dividend of 28 cents a share.

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