DBS Group Reports Upbeat Q4 Net Profit

DBS Group Holdings Ltd

reported an 8% rise in its fourth-quarter net profit. DBS Group's quarterly net profit climbed to S$731 million, from S$678 million, in the year-ago period. However, analysts were expecting a net profit of S$692.6 million. DBS Group's net interest income surged 17% to S$1.29 billion, from S$1.11 billion. Its non-interest income gained 0.5% to S$626 million, versus S$623 million. DBS Group's expenses surged 13% to S$885 million from S$780 million. DBS Group shares closed at $43.30 yesterday.