DBS Group Q3 Net Profit Declines

(RTTNews) - DBS Group Holdings reported third quarter net profit of S$2.95 billion compared to S$3.03 billion, last year. Reported earnings per share was S$4.12 compared to S$4.21. Profit before tax was up 1% to S$3.48 billion.

Total income for the period increased to S$5.93 billion from S$5.75 billion, last year. Net interest income was S$3.58 billion compared to S$3.60 billion.

DBS CEO Tan Su Shan said, "We delivered a strong set of results for the third quarter with record pre-tax profit and ROE above 17%. Total income reached a new high as we sustained the strong momentum in wealth management and deposit growth while mitigating external rate pressures through proactive balance sheet hedging."

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