DBS reports 25% lower 3Q earnings of $802 mil on higher net allowances

SINGAPORE (Nov 6): DBS Group Holdings reported 25% lower 3Q earnings of $802 million from the same quarter a year ago.

The five-year low came on the back of an 87% rise in net allowances to $815 million as residual weak oil and gas support services exposures were classified as non-performing assets (NPAs).

DBS CEO Piyush Gupta says the recognition of the residual weak oil and gas support service exposures as NPAs will enable investors to return their focus to our operating performance and digital agenda.

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