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Net profit of Singapore’s DBS hits record in Q1

SINGAPORE, May 2 (Xinhua) — Singapore’s major banking group DBS saw its net profit for the first quarter rise 15 percent year on year to a record 2.96 billion Singapore dollars (about 2.18 billion U.S. dollars), according to the bank’s quarterly performance report released Thursday.

The total income of DBS grew 13 percent in the first three months to a new high of 5.56 billion Singapore dollars (about 4.09 bill