Southeast Asia's biggest bank DBS Group says its net profit climbed 49 per cent in the third quarter from the previous year as interest and fee income rose and allowances tumbled.
DBS earned 563 million Singapore dollars ($A442.52 million) in July to September compared with 379 million Singapore dollars ($A297.88 million) in the same period last year.
The figure was higher than the 463 million Singapore dollars ($A363.87 million) average projection in a Dow Jones Newswires poll of analysts.
Compared with the previous quarter, net profit was up two per cent.
DBS said net interest income rose six per cent to a record 1.14 billion Singapore dollars ($A895.81 million) as housing loans expanded.
Non-interest income climbed 34 per cent to 437 million Singapore dollars ($A343.35 million) as stockbroking and investment banking benefited from improved conditions in the capital markets.
"Our net interest income is at a quarterly record and fee income is at its highest level since the onset of the global financial crisis," said DBS chairman Koh Boon Hwee.
"This is a solid set of results that reflects the strength of the DBS franchise and our ability to capture opportunities in a challenging environment."
