DBS Group, Singapore's largest bank, raised its full-year guidance after reporting a stronger-than-expected 9% rise in second-quarter net profit, supported by robust growth in wealth management, treasury customer sales and trading income, according to Reuters.
The lender posted a record quarterly net profit of S$3.08 billion ($2.40 billion) for the April-June period, surpassing analysts' expectations. The upbeat earnings lifted investor sentiment, with DBS shares rising as much as 3% to a record high of S$75.80 in early trading.
