DBS Profit Misses Estimates as Lending Profitability Narrows
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DBS Group Holdings Ltd., Southeast Asia’s largest bank, said fourth-quarter profit rose 4 percent, excluding a gain from the sale of a Philippine bank, missing analysts’ estimates as loan margin narrowed.
Earnings before the S$450 million ($364 million) gain increased to S$760 million from S$731 million a year earlier, the lender said in a statement to the Singapore stock exchange today. That fell short of the S$795 million average of eight analysts’ estimates adjusted by Bloomberg. Net income jumped 66 percent to S$1.2 billion, including the one-time item.