DBS Q3 profit falls 5% to S$2.81 billion; Anthony Lim to chair in 2027
What's new: Trading income sank 65% and the result missed forecasts, while Peter Seah will retire after 16 years as chairman.
DBS Group posted third-quarter net profit of S$2.81 billion, down 5% from a year earlier and below the S$2.90 billion average forecast compiled by LSEG, as weaker trading income offset gains in wealth management and fees. Markets trading income dropped 65% to S$152 million, while net interest margin narrowed 9 basis points to 1.87%. The bank also set out a leadership change: independent director Anthony Lim will become chairman on Jan. 1, 2027, succeeding Peter Seah, who will retire from the board on Dec. 31 after 16 years in the role and serve one year as senior adviser. DBS said wealth management fees rose 9% to S$864 million and net fee income increased 6% to S$1.43 billion.