Singapore's biggest bank DBS Group Holdings (DBS) has recorded net earnings to 552 million Singapore dollars (about 386 million U.S. dollars) for the second quarter of 2009, an increase of 21 percent from the previous quarter.

DBS said in a statement on Friday that sustained revenue growth and cost discipline boosted earnings before allowances to a record 1.16 billion Singapore dollar (0.82 billion U.S dollars).

Revenues rose 8 percent from the previous quarter to a new high of 1.79 billion Singapore dollars (1.26 billion U.S. dollars) as better net interest margins, capital market activities, trading and investment income resulted in broad-based revenue growth.

The non-performing loan rate rose from 2.0 percent in the previous quarter to 2.8 percent. The increase came primarily from exposures to shipping and Middle East corporates and institutions.

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 16 markets.

(Xinhua News Agency August 8, 2009)