SINGAPORE Feb 6 DBS Group Holdings,
Southeast Asia's biggest lender, posted an 11 percent rise in
core fourth-quarter net profit on Wednesday after a drop in bad
debt charges but missed expectations due to weak margins.
DBS made a net profit of S$760 million ($613.5 million) for
October-December against a net profit of S$731 million a year
earlier. This missed an average forecast of S$810 million,
according to six analysts surveyed by Reuters.
Including a one-time gain of S$450 million from the sale of
its stake in Bank of Philippine Islands, DBS earned
S$1.2 billion in the fourth quarter.
Net interest income was unchanged at S$1.29 billion as a
lower net interest margin offset the impact of loan growth which
was 8 percent year-on-year.
($1 = 1.2387 Singapore dollars)
(Reporting by Saeed Azhar; Editing by Richard Pullin)