Half Year 2021 DBS Group Holdings Ltd Earnings Media Briefing Transcript
Good morning, everyone, and welcome to DBS' Second Quarter Financial Results Briefing. This morning, DBS announced solid second quarter earnings, which took our first half net profit to record $3.71 billion. Return on equity was 14%, significantly higher than a year ago. To tell us more, we have with us our CEO, Piyush Gupta; and our CFO, Chng Sok Hui. And without further ado, Sok Hui, please.
Good morning. We achieved our first half performance as net profit rose 54% from a year ago to $3.71 billion. Return on equity rose from 9.5% a year ago to 14.0%. First and second quarter net profit were the 2 highest on record. Business momentum accelerated in the first half, mitigating the impact of lower interest rates. Loans grew 6%, deposits 3% and fee income rose 20% with the first and second quarter, the 2 highest on record.
Both treasury customer flows and treasury markets income also reached new highs. Underlying
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