Bank reports strong set of results in Q2 with net profit up 6% on year at S$2.79 billion
A STRONG fees business and lower sensitivity to interest rates will likely help support earnings growth at DBS in 2024, said chief executive Piyush Gupta.
The bank also has strong buffers against economic slowdown, even as market volatility and geopolitical tensions have heightened uncertainty, he added.
“It’s kind of hard to say how many rate cuts there will be, or what’s going to happen, but we have built resiliency against potential economic slowdown and lower interest rates,” Gupta said at the lender’s second-quarter results on Wednesday (Aug 7).
