DBS Bank India net profit surges 164%

Mumbai: Singapore-based DBS Bank said on Wednesday that its India operation registered a 164% growth in fiscal 2012 profit from a year ago. Net profit rose to Rs 335.5 crore from Rs 127.2 crore, the bank said in a release.

Advances rose 71% to Rs 12,844.3 crore, and deposits rose 75% to Rs 12,922.0 crore. Net interest margin, a key gauge of profitability, widened to 3.24% from 2.86%, the bank said.