DBS’s net profit slips 2% YoY in 9M

The group attributed this to the impact of the global minimum tax.

DBS’ net profit slipped 2% year on year to $2.95b during the nine months ended September 2025, according to its press release.

The group said it was due to the impact of the global minimum tax.

Group net interest income rose 2% YoY to $10.9b despite a 9-basis-point compression in net interest margin to 2.04%.

However, the impact of lower interest rates was more than offset by balance sheet hedging and strong deposit growth.

Markets' trading income of $1.22 billion also rose by 60% YoY and was the second highest on record due to higher interest rates and equity derivative activities.

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