DBS Group Holdings , Southeast Asia's biggest lender, reported that higher ...
), Southeast Asia’s biggest lender, reported that higher wealth management fees drove a forecast-beating 15% rise in third-quarter profit, but cautioned growth will slow next year due to the impact of lower interest rates.The Singaporean bank said on Monday it expects its net interest margin, a key gauge of profitability, to fall by about 7 basis points in 2020. It was 1.90% for the three months ended Sept. 30.
DBS made a net profit of S$1.63 billion for the quarter, compared with S$1.41 billion a year earlier and an average estimate of S$1.57 billion from five analysts, according to Refinitiv data. “Growth was driven by higher fees and trading gains, good cost control and flat margins, partially offset by higher credit costs and one-offs,” said Krishna Guha, an analyst at Jefferies Singapore.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore's DBS beats estimates with 15% profit jumpDBS Group Holdings Ltd , Southeast Asia's biggest lender, reported on Monda...
Read more »
Singapore's DBS beats estimates with 15% profit jumpDBS Group Holdings Ltd , Southeast Asia's biggest lender, reported on Monda...
Read more »
Dubai's Emaar Properties third quarter profit up 20%Dubai's largest listed developer Emaar Properties said on Sunday third quar...
Read more »
Oil slips on jitters over U.S.-China trade talks progressOil prices fell on Monday on renewed caution over the prospects of a trade deal ...
Read more »
Klopp praises Liverpool intensity after crucial win over CityJuergen Klopp says the title race pressure is not ‘there yet’ as Liverpool went nine points clear in the Premier League after beating Manchester City
Read more »
Klopp praises Liverpool intensity after crucial win over CityLiverpool manager Juergen Klopp says being nine points above Manchester City fee...
Read more »