DBS shrugs off M&A ban with record results

Net profit climbed 26% to $7.67 billion last year, but the CEO and some other members of the management committee took a pay cut after MAS took action against the bank over outages.

DBS Group achieved a record performance in 2023 as net profit rose 26% to S$10.3 billion ($7.67 billion), according to a February 7 announcement. The Singapore bank's return on equity climbed from 15% to a new high of 18%.

¬ Haymarket Media Limited. All rights reserved.

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