Singapore’s bank DBS third-quarter net profit rises 18% on-year

SINGAPORE (Reuters) -Singapore’s biggest bank DBS Group (OTC:) reported on Monday a 18% jump in net profit in the third quarter from a year earlier as total income grew on higher interest margin and commercial book non-interest income.

DBS, which is also Southeast Asia’s largest lender by assets, said July-September net profit rose to S$2.63 billion ($1.94 billion) from S$2.24 billion a year earlier.

This beat the mean estimate of S$2.5 billion from four analysts polled by LSEG.

($1 = 1.3541 Singapore dollars)