{"id":97664,"date":"2026-11-05T09:06:02","date_gmt":"2026-11-05T01:06:02","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=97664"},"modified":"2026-11-05T09:06:02","modified_gmt":"2026-11-05T01:06:02","slug":"dbs-third-quarter-net-profit-falls-5-on-year-misses-forecasts","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=97664","title":{"rendered":"DBS third-quarter net profit falls 5% on year, misses forecasts"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<p>SINGAPORE: DBS Group, Singapore&#8217;s biggest bank, warned on Thursday (Nov 5) of growing global uncertainty due to elevated energy prices, higher interest rates and geopolitical risks as market volatility pushed its earnings lower.<\/p>\n<p>The bank also announced on Thursday that independent director Anthony Lim would take over as chairman on Jan 1, 2027, succeeding Mr Peter Seah, who will retire after 16 years in the role.<\/p>\n<p>DBS, which is also Southeast Asia&#8217;s biggest lender by assets, said July-September net profit fell 5 per cent to S$2.81 billion (US$2.20 billion) from a year earlier, mainly on a decline in markets trading income.<\/p>\n<p>The result undershot the mean estimate of S$2.90 billion from four analysts, according to LSEG data, even though its wealth management division posted a strong performance.<\/p>\n<p>In a media release announcing the leadership renewal, DBS said Mr Seah will retire on Dec 31 and be appointed senior advisor for a year.<\/p>\n<p>&#8220;As Chairman since 2010, Seah provided steadfast leadership and strategic oversight as DBS pursued a strategy of digital transformation and growth in high-return businesses,&#8221; said DBS.<\/p>\n<p>&#8220;Over this period, DBS delivered significant growth and transformation,&#8221; it added, noting that since 2010, DBS Group&#8217;s income has more than tripled while net profit has increased more than fourfold.\u00a0<\/p>\n<p>DBS said its market capitalisation crossed S$200 billion in July 2026, making it Singapore&#8217;s largest listed company by a significant margin. Its market capitalisation was also approximately six times its size at the end of 2009, the bank added.<\/p>\n<p><span>Mr Lim, meanwhile, has served on the boards of DBS Group Holdings and DBS Bank since April 2020.<\/span><\/p>\n<p><span>Over the past six years, he has developed a deep understanding of DBS&#8217; culture and strategy through his involvement in the Board Executive Committee, Board Risk Management Committee and Compensation and Management Development Committee, said DBS.<\/span><\/p>\n<\/div>\n<p><br \/>\n<center><br \/>\n<br \/><a href=\"https:\/\/www.channelnewsasia.com\/singapore\/dbs-2026-q3-profit-peter-seah-anthony-lim-6525661\" target=\"_blank\" rel=\"noopener\">Read Full Article At Source <\/a><br \/>\n<center\/><\/p>\n<p><center><script>\n  atOptions = {\n    'key' : 'ab8cc34fbebd96e6c135978b4baca540',\n    'format' : 'iframe',\n    'height' : 90,\n    'width' : 728,\n    'params' : {}\n  };\n<\/script><br \/>\n<script src=\"https:\/\/www.highrevenueformat.com\/ab8cc34fbebd96e6c135978b4baca540\/invoke.js\"><\/script><\/center><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE: DBS Group, Singapore&#8217;s biggest bank, warned on Thursday (Nov 5) of growing global uncertainty due to elevated energy prices, higher interest rates and geopolitical&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[7076,2738,12470,176,1218,8346,32431,791],"class_list":["post-97664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-dbs","tag-falls","tag-forecasts","tag-misses","tag-net","tag-profit","tag-thirdquarter","tag-year","wpcat-2-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/97664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=97664"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/97664\/revisions"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=97664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=97664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=97664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}