SINGAPORE — Singapore's biggest bank DBS Group posted on Thursday a record net profit in the third quarter (Q3) but forecast 2025 net profit to be below 2024 levels because the city-state is introducing a global minimum corporate tax rate.
DBS, the first Singapore lender to report third-quarter results, said July-September net profit surged 15 percent to SG$3.03 billion ($2.27 billion), easily beating the mean estimate of nearly SG$2.80 billion from five analysts, according to LSEG data.
