By Rae Wee and Yantoultra Ngui
SINGAPORE, Feb 9 (Reuters) – DBS Group, Singapore’s biggest bank, posted fourth-quarter net profit on Monday that was down 10% over the same period a year earlier, mainly due to lower net interest margin.
DBS, which is also Southeast Asia’s largest bank by assets, said October-December net profit dropped to S$2.26 billion ($1.78 billion) from S$2.52 billion a year earlier.
This missed the mean estimate of nearly S$2.55 billion from two analysts, according to LSEG data.
($1 = 1.2707 Singapore dollars)
(Reporting by Rae Wee and Yantoultra Ngui; Editing by Cynthia Osterman and Mark Porter)
Brought to you by www.srnnews.com
