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DBS 1Q21 profit soars 72% YoY, bullish about prospects in the coming year

DBS Group on Friday announced its 1Q21 results. Net profit doubled from 4Q20 and increased 72% YoY to SGD 2.01 billion, crossing the SGD 2 billion mark for the first time. Asset quality was healthy, with new non-performing asset formation and specific allowances at pre-pandemic levels, according to the earnings release. Net interest income fell 15% YoY as a 37-bp…

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