DBS GROUP'S fourth-quarter net profit fell by a third as Singapore's largest lender increased loan loss allowances almost fivefold due to the Covid-19 pandemic. COMMONWEAL TH BANK OF AUSTRALIA, Australia's largest bank, raised its dividend as its first-half cash profit came in ahead of expectations, although its cash profit for the last six months fell 11% from a year earlier to A$3.89bn (US$3.01bn) due to a rise in bad loan losses. DBS said net profit for the quarter to the end of December came in at S$1.01bn (US$762m), down from S$1.51bn a year earlier. Bad loan allowances rose to S$577m against S$122m a year earlier, while the net interest margin weakened by 37bp to 1.49%.
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