DBS Taiwan reports 103% rise in net profit

DBS Taiwan’s first-quarter earnings more than doubled year-on-year with record earnings of SGD 807 million or NTD 18.6 billion.

DBS Taiwan reported pre-tax profits of NTD 592 million in 1Q 2011, up 103% from the previous year. The uptrend is expected to continue.

Jerry Chen, General Manager of DBS, said, “We are entering into an exciting new phase as we bring DBS Taiwan to the next level. Going forward, we will focus more on expanding our SME and wealth management businesses, on the back of 40 branches and more diversified product lines.”

“We will continue to expand the scale of our operations and deepen relationships with our customers as we cross-sell among various businesses and introduce more holistic solutions to our customers. We now also operate a 24-hour call centre to provide better service.”