DBS returns to green with $610mn second quarter profit

Singapore lender DBS Group Holdings Ltd. says it returned to profit in the second quarter despite slumping fee and trading income.

Southeast Asia's largest bank said Thursday that earnings were 735 million Singapore dollars (US$610 million) for the three months ended June 30 compared with a loss of SG$300 million (US$249,88) a year earlier.

DBS booked a one-time SG$1 billion (US$832.94 million) impairment charge for its Hong Kong unit in the second quarter of 2010.

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