DBS Bank's Q1 profit hits record high despite expected decline in net interest margins.

DBS Group Holdings, Singapore's largest lender, expects net interest income to decline in the future, but is confident in other growth drivers such as loans and fee income. The bank reported record revenue and net profit for Q1 2022 due to higher net interest margins, sustained business momentum, and resilient asset quality. DBS CEO Piyush Gupta expects a gradual decline in net interest margins and guided for a full-year average of between 2.05% and 2.1% in 2023. The company's board declared a dividend of 42 Singapore cents per share for Q1. Despite the slowdown in the West, Gupta sees supportive fundamentals in Asia and expects DBS to continue building its business.