DBS Profit Misses Forecasts as Trading Income Slumps
By Amanda Lee and P.R. Venkat
Singapore lender DBS Group's third-quarter net profit came in below expectations as unfavorable equity market conditions weighed on its markets trading income.
Net profit for the three-months ended September decreased 5% to 2.81 billion Singapore dollars, equivalent to US$2.20 billion, Southeast Asia's largest bank said Thursday.
That missed the S$2.93 billion consensus estimate of analysts polled by Visible Alpha.
Markets trading income fell 65% to S$152 million from S$439 million a year earlier, due to unfavorable market conditions.
Total income declined 1% to S$5.85 billion.
Net interest income--the difference between what banks earn on loans and pay on deposits--rose 4% to S$3.71 billion, as hedging and balance-sheet growth more than offset the impact of lower Singapore interest rates.
Net fee income rose 6% to S$1.43 billion, while treasury customer sales and other income grew 19% to S$685 million.
The outlook has become "more uncertain amid elevated energy prices, tighter financial conditions and geopolitical risks," Chief Executive Tan Su Shan said.
DBS declared a third-quarter dividend of 66 Singapore cents a share, plus a capital return dividend of 15 cents.
Write to Amanda Lee at amanda.lee@wsj.com and P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
November 04, 2026 18:17 ET (23:17 GMT)
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