Full Year 2018 DBS Group Holdings Ltd Earnings Media Briefing Transcript
Good morning, everyone, and welcome to DBS' Fourth Quarter and Full Year Results Briefing.
This morning, we announced a full year net profit of $5.63 billion, yet another record high. Notably, return on equity at 12.1% is our highest in more than a decade. Fourth quarter net profit increased 8% to $1.32 billion.
So to tell us more today, we have our CEO, Piyush; and CFO, Sok Hui. Sok Hui, please.
Good morning, everyone. We are still within 15 days of our Chinese New Year celebration, so let me wish everyone a very happy and prosperous lunar new year.
We achieved another record performance in 2018. Net profit crossed the $5 billion mark for the first time, rising 28% to $5.63 billion. Total income increased 11% to $13.2 billion from loan and fee income growth as well as the higher net interest margin. The results were moderated by weaker performance in Treasury Markets.
The reported cost
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