DBS' fee income up 16% to $665m

Thanks to the exceptional performance by the wealth management segment.

According to CIMB, DBS' fee income has a fantastic quarter in 1Q17, rising 29% QoQ and 16% YoY to $665m.

The improvement was broad-based, but most notably in wealth management, which rose 41% QoQ and 26% YoY to a record $222m on higher product sales and market share gains.

However, CIMB cited DBS saying that this figure could ease this year.

Meanwhile, fees picked up 11% YoY on the back of 5% YoY constant currency growth in trade loans. But the drop in trading income by 14% had prevented net interest income from rising any further.

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