In the first quarter, the net profit of the DBS Group decreased by 2% year-on-year.

DBS Group Holdings released its first-quarter performance as of the end of March this year, with total revenue increasing by 6% year-on-year to 5.9 billion Singapore dollars; net profit decreased by 2% year-on-year to 2.897 billion Singapore dollars. The bank stated that the decline in net profit was due to the implementation of a 15% global minimum tax rate, leading to an increase in tax expenses.