The consumer banking and wealth management arm of DBS has posted a pre-tax profit of S$730m ($536.1m) for Q3 2019.

This is a 25% jump from the previous year figure of S$585m.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The unit’s total income for the three-month period ended 30 September 2019 was S$1.62bn, up 12% from S$1.44bn a year ago.

Expenses rose 5% to S$834m from S$792m.

Pre-tax profit at the banking group’s institutional banking unit remained stable at S$836m.

The institutional banking arm’s total income increased 4% to S$1.54bn from S$1.48bn over the period.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

DBS Group and wealth highlights in Q3 2019

At a group level, DBS registered a net profit of S$1.63bn in the quarter ended 30 September 2019, a 15% increase from S$1.41bn in the same quarter last year.

The group’s total income increased 13% to S$3.82bn on a year-on-year basis, with net fee income surging 17% to S$814m from S$695m. Wealth management fees soared 22% to SGD357m from S$292m.

Expenses of S$1.61bn at the group were 9% higher than a year ago, due to computerisation investments.

The common equity tier 1 and leverage ratios were 13.8% and 7%, respectively, at the end of September 2019. The ratios were said to exceed regulatory requirements.

DBS CEO Piyush Gupta said: “The record operating results for the quarter once again attest to the strength of our business.

“Our transformed franchise, nimble execution and balance sheet strength will put us in good stead to deliver healthy shareholder returns despite the prevailing macroeconomic and geopolitical headwinds.”