Cheering DBS’ stellar performance and Temasek’s dominance in economy, stock market

[SINGAPORE] Of late, Singapore’s largest company by market capitalisation DBS Group Holdings has been reporting a string of impressive results.

For the second quarter, DBS’ net profit rose 9 per cent to a record S$3.08 billion, beating the S$2.88 billion consensus forecast in a Bloomberg survey of five analysts. 

The bank raised its full-year guidance after record earnings in the first half, betting that strong momentum in wealth management and other fee-generating businesses will help offset pressure from lower interest rates.