Q4 2023 DBS Group Holdings Ltd Media Briefing Transcript
Okay. Good morning, everybody, and a warm welcome to DBS' Fourth Quarter and Full Year 2023 Financial Results Briefing. This morning, we announced a very strong set of numbers for 4Q, capping a record year.
And to tell us more, we have our CEO, Piyush Gupta; and our CFO, Chng Sok Hui. So without further ado, Sok Hui, please.
Good morning, everybody, and happy Chinese New Year in advance.
Okay, Slide 2. We achieved a record performance for full year 2023. Net profit rose 26% to cross $10 billion for the first time. ROE climbed 3 percentage points to 18%, significantly above previous years. Total income rose 22% to $20.2 billion. The commercial book drove the better performance.
Net interest income grew 33% boosted by a 65 basis point expansion in net interest margin. Net fee income rebounded, up 9% on record card fees and improved Wealth Management product sales. Other noninterest income rose 18%
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