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DBS says Q3 net profit jumps 12%
By Hu Xiaocen |
November 1, 2012, Thursday
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Online Edition
Online Edition
DBS Group Holdings reported net earnings of SG$856 million (4.4 billion yuan) in the third quarter, up 12 percent from a year earlier on strong growth of fee income.
Net-interest income added 1 percent from the previous quarter to SG$1.33 billion by the end of September. Loans grew 1 percent to SG$202 billion, reflecting a slowdown in the region and a concentration of maturing trade loans during the quarter, the Singapore-based lender said today.
Net-interest margin declined five basis points to 1.67 percent in the three months ended September 30, reflecting margin pressures in China as the government further relaxed the interest rate regime.
Meanwhile, non-interest income rose 8 percent from the previous quarter to SG$672 million, mainly due to an 11 percent rise in fee income to a record SG$422 million as contributions from loan activities, investment banking and wealth management grew.
In the first nine months, the bank's net earnings grew 13 percent from a year ago to SG$2.6 billion.
Net-interest income added 1 percent from the previous quarter to SG$1.33 billion by the end of September. Loans grew 1 percent to SG$202 billion, reflecting a slowdown in the region and a concentration of maturing trade loans during the quarter, the Singapore-based lender said today.
Net-interest margin declined five basis points to 1.67 percent in the three months ended September 30, reflecting margin pressures in China as the government further relaxed the interest rate regime.
Meanwhile, non-interest income rose 8 percent from the previous quarter to SG$672 million, mainly due to an 11 percent rise in fee income to a record SG$422 million as contributions from loan activities, investment banking and wealth management grew.
In the first nine months, the bank's net earnings grew 13 percent from a year ago to SG$2.6 billion.
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