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Singapore's DBS third-quarter net profit falls 5% on year, misses forecasts

By Reuters News

By Rae Wee

SINGAPORE, Nov 5 (Reuters) - DBS Group DBSM.SI, Singapore's biggest bank, posted on Thursday a 5% fall in net profit in the third quarter from a year earlier, mainly on a decline in markets trading income.

DBS, which is also Southeast Asia's biggest lender by assets, said July-September net profit fell to S$2.81 billion ($2.20 billion) from S$2.95 billion a year earlier.

This undershot the mean estimate of S$2.90 billion from four analysts, according to LSEG data.

($1 = 1.2792 Singapore dollars)

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