Singapore's DBS bank 2Q profit jumps 16 percent

Singapore bank DBS Group Holdings Ltd. said Thursday that profit in the second quarter rose 16 percent from a year ago on higher trading income.

DBS, Southeast Asia's largest bank, reported earnings of 652 million Singapore dollars (US$471 million) for the three months ended June 30, up from profit of S$560 million in the same period last year.

Excluding one-time items, though, profit for the quarter rose just 1 percent to S$668 million (US$484 million).

Total income rose 3 percent in the quarter to S$1.6 billion (US$1.2 …