11 Feb '11, 2am

Shares of DBS Group, South-east Asia's biggest lender, fell as much as 1.9 per cent on Friday

Shares of DBS Group, South-east Asia's biggest lender, fell as much as 1.9 per cent on Friday

Shares of DBS Group, South-east Asia's biggest lender, fell as much as 1.9 per cent on Friday. -- ST PHOTO: DESMOND FOO SINGAPORE - SHARES of DBS Group, South-east Asia's biggest lender, fell as much as 1.9 per cent on Friday after it reported better-than-expected quarterly earnings, as sentiment was hit by a weak market due to the political turmoil in Egypt, traders said. At 0107 GMT (9.07am S'pore tiem), DBS shares were 1.8 per cent lower at $14.56 with over 1 million shares changing hands. DBS posted a 38 per cent rise in quarterly profit on falling bad-debt charges and higher trading income, beating expectations. The bank said its fourth quarter net profit was $678 million, compared with $493 million a year earlier. That compared with an average forecast of $660 million, according to six analysts surveyed by Reuters. -- REUTERS

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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