SINGAPORE, Feb 13 (Reuters) - DBS Group reported a 68% rise in quarterly profit on Monday as rising
interest rates boosted its net interest margins, but Southeast
Asia's largest bank by assets said that interest rate increases
would moderate in 2023.
DBS, the first Singapore bank to report this season, said
October-December net profit rose to S$2.34 billion ($1.76
billion) compared with an average estimate of S$2.16 billion
from three analysts, according to Refinitiv data, and S$1.39
billion) in the same period a year earlier.
($1 = 1.3297 Singapore dollars)
(Reporting by Anshuman Daga; Editing by Kim Coghill and Lisa
Shumaker)
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