“This rising interest rate environment is set to further boost our margins for the year,” Chief Executive Wee Ee Cheong said in a statement. “We continue to see economic activity picking up as borders reopen and investment flows resume.”
The bank posted net profit of S$1.11 billion ($805 million) in the quarter to June 30, in line with market estimates, against S$1 billion a year earlier. Net interest income jumped 18% while net fee income dropped 3%.
($1=1.3793 Singapore dollars)
Source: Economy - investing.com
