Shares of the lender rose as high as 2.0% to 49.85 Singapore dollars, equivalent to US$38.78, in morning trading Thursday. DBS's shares are outperforming those of other Singapore lenders with a 14% gain year to date, outpacing the benchmark Straits Times Index's advance.

DBS Group, Singapore's biggest bank, on Thursday posted a 1% rise in net profit in the second quarter from a year earlier on the back of higher total income. DBS, which is also Southeast Asia's biggest lender by assets,