SINGAPORE, Nov. 5 (Xinhua) -- Singapore's largest bank DBS Group Holdings said Thursday that its third-quarter net profit fell 5 percent year-on-year to 2.81 billion Singapore dollars (about 2.2 billion U.S. dollars), dragged down by lower market trading income amid unfavorable equity market conditions.
The bank's total income for the quarter declined 1 percent from a year earlier, DBS said in a statement.
For the first nine months of 2026, however, the bank's net profit rose 2 percent year-on-year to a record 8.82 billion Singapore dollars. Its total income also increased 2 percent to a new high of 17.9 billion Singapore dollars.
The firm's fee income and treasury customer sales grew by double-digit percentages to new highs during the period, led by wealth management.
DBS chief executive officer Tan Su Shan said the global economy had remained resilient, although the outlook had become more uncertain amid elevated energy prices, tighter financial conditions and geopolitical risks.
"As we enter 2027, we will stay nimble to capture opportunities while prudently managing risks. A more supportive interest rate environment and continued structural growth opportunities would benefit earnings, while our strong capital and liquidity positions and healthy general allowance buffers provide resilience against macroeconomic uncertainty," she said. ■
