DBS third quarter earnings up 12 per cent to $856 million

DBS Group Holdings reported a third quarter net profit of $856 million, up 12 per cent from the same quarter last year.

Net interest income grew 10 per cent from the same period a year ago, to $1.33 billion, even as net interest margins moderated from 1.73 per cent a year ago to 1.67 per cent.

The declining margins reflect prudent liquidity management as well as margin pressures in China, said the bank in a press release today.

The loans to deposit ratio and non performing loans ratio both remained unchanged at 84 per cent and 1.3 per cent respectively.