SINGAPORE, Feb. 7 (Xinhua) -- Singapore's major banking group DBS achieved a record net profit of 10.3 billion Singapore dollars (7.6 billion U.S. dollars) in 2023, according to a statement by DBS Wednesday.
Driven by a higher net interest margin, a rebound in fee income and record treasury customer sales, the total income of DBS last year exceeded 20 billion Singapore dollars (14.9 billion U.S. dollars) for the first time, read the statement.
Return on equity climbed from 15.0 percent to 18.0 percent, the group noted.
DBS vows to invest 80 million Singapore dollars (59.6 million U.S. dollars) to improve digital resiliency due to multiple digital disruptions in 2023.
"These efforts will enable the bank to better pre-empt disruptions to its services, provide customers with alternate channels for payments and account inquiries during disruptions, and shorten incident recovery time," said DBS. ■
