Singapore’s largest lender DBS GroupThe company reported record profits for the 2021 fiscal year, with its CEO Piyush Gopta telling CNBC that last year was “one among the best” years.

It was a strong year. Perhaps one of my best years in many years. After the earnings results were released, Gupta said that there was a strong growth in the balance sheets.

On Monday, the bank reported that its full-year net profit rose 44% to record 6.8 billion Singapore dollar ($5.04billion).

The fourth quarter net profit increased 37% to SG$1.39 trillion ($1.03 billion) from a year earlier. This however missed the average estimate of SG$1.47billion from Reuters.

Gupta also highlighted the bank’s loans growth, which jumped 9% for the year — the fastest since 2014, according to the bank.

He said that “we had exceptional deposit growth” and added there has been a SG$140 trillion surge in current bank account savings accounts over the past two years.

It increased its current account/savings account (CASA), ratio to total deposits by 76%. This metric measures a bank’s profitability.

He said, “Now as you can see, this portends really well to a rising interest rates environment.”

DBS’s year-end net interest margin (a measure of loan profitability) fell to 1.45%, another highlight.

According to DBS, the annualized dividend will rise 9% from SG$1.44 to SG$1.94 per share and is to be approved by March’s annual general meeting.

DBS shares rose 0.27% after the announcement.

Piyush said that rate increases are likely this year which could mean better dividends to shareholders.

We are well-capitalized, even though rates rise. CNBC’s Sullivan said, “If you create even more capital via better income growth and bottom line results, there is a good chance that it will reflect in higher payouts for shareholders.”

Two other banks that are major in Singapore OCBCAnd UOBThey will also report fourth quarter earnings in February.