Net Interest Income
1999: S$2,034.7 million (+42.3%)
1998: S$1,430.0 million
1999: S$994.2 million (+123.0%)
1998: S$445.8 million
Net interest income rose by 42.3% mainly attributable to acquisitions of POSBank in 1998 and KOB in 1999, and higher net interest margins arising from more efficient asset and liability management and wider spreads between DBS Bank's prime lending rate and posted deposit rates.
The 123.0% increase in non-interest income was mainly contributed by the profit from divestment of DBS Bank's stake in Singapore Petroleum Company Ltd (S$117.1 million), higher proprietary trading profits on securities and derivatives (S$191.5 million), profit from sale of DBS Tampines Centre (S$57.5 million) and higher stockbroking and investment banking income (S$95.8 million).