Cheering DBS’ stellar performance and Temasek’s dominance in economy, stock market
Success of Temasek’s Singapore portfolio companies helps rather than hurts local entrepreneurs
DBS Group Holdings, Singapore's largest company by market capitalization, has been delivering impressive results recently. In the second quarter, the bank's net profit soared 9% to a record S$3.08 billion, surpassing the S$2.88 billion consensus forecast predicted by Bloomberg's survey of five analysts. DBS has raised its full-year guidance following record earnings in the first half, anticipating that robust growth in wealth management and other fee-generating businesses will help counteract the impact of declining interest rates.
The success of Temasek's Singapore portfolio companies has not only benefited the local economy but also seems to have had a positive influence on DBS. Temasek, Singapore's state-owned investment corporation, has been a dominant force in the country's economy. The bank's performance and Temasek's dominance have caught the attention of the stock market, resulting in cheers across the financial community.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
