Updated: 08/01/2014 20:09

DBS Q2 net profit rose 9%

DBS Q2 net profit rose 9%

DBS Group posted a 9 per cent increase in second quarter net profit as net interest income and fee income were higher, and allowance charges declined. 

The lender earned a net profit of $969 million in the three months to June. 

Net interest income grew 13 per cent to over $1.5 billion as both loans and net interest margins rose. 

But non-interest income slumped 18 per cent. 

DBS saw a 48 per cent decline in bad debt charges. 

The lender declared a dividend of 28 cents a share for the first-half of the year, unchanged from a year ago.

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