DBS says Q3 net profit falls 38 pct, below forecast

Reuters, 6 Nov 2008, Saeed Azhar

SINGAPORE, Nov 7 (Reuters) - DBS Group, Southeast Asia's biggest bank, posted a 38 percent drop in quarterly profit, below market expectations, as losses from bad debts mounted amid global financial market turmoil. The bank said on Friday it earned S$379 million ($253 million) in July-September, compared with S$610 million a year ago.

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