DBS reported net profit ofS$2.59 billionfor the third quarter ended September,16 per centhigher than earnings ofS$2.24 billionin the corresponding period last year.
This includes one-off costs ofS$40 millionaccrued from the acquisition of Citigroup’s Taiwan consumer banking business in Q3.
Notwithstanding this one-off item, Q3 net profit would have beenup 18 per centtoS$2.63 billion, driven by a record-high total income, said the largest bank in Singapore on Monday (Nov 6).
This figure beat aS$2.54 billionconsensus forecast in a Bloomberg survey of four analysts.
The results translate to a higher earnings per share ofS$4, compared withS$3.41in the year-ago period.
Total income for the third quarter stood at a record high ofS$5.2 billion,16 per centhigher on the year.
The lender declared a dividend ofS$0.48 per sharefor the period, up from the S$0.36 in the previous Q3. This brings the total dividend for the three quarters ended Sep 30 toS$1.38 per share.
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