DBS Profit Rises as Fee Businesses Offset Slower Lending
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DBS Group Holdings Ltd., Southeast Asia’s largest bank, posted a third straight quarter of profit growth as higher fees from wealth management and investment banking offset the slowest loan expansion in almost two years.
Net income rose 17 percent to S$1 billion ($782 million) for the three months ended Sept. 30 from S$862 million a year earlier, the Singapore-based bank said in an exchange statement today. That beat the S$975 million average of four analysts’ estimates compiled by Bloomberg.