, reported declines in quarterly profits on Thursday, hit by lower net interest income, but the results still came in above analysts' estimates.
DBS, Southeast Asia’s biggest lender, posted a 20% fall in net profit to S$1.30 billion from S$1.63 billion a year earlier. The result was above an average estimate of S$1.17 billion from four analysts, according to Refinitiv data. The bank’s net interest margin, a key profitability gauge, weakened to 1.53% in the latest quarter from 1.9%. Allowances for credit and other losses more than doubled to S$554 million.
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