DBS posts record quarterly profit, sees 2025 dip from tax changes

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The story "DBS posts record quarterly profit, sees 2025 dip from tax changes" was covered 2 weeks ago by Business Standard, a news publisher based in India.

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DBS posts record quarterly profit, sees 2025 dip from tax changes - Business Standard

Quick Summary:

The strong result came on the back of record fee income driven by wealth management, higher treasury customer sales and increased markets trading income.

But net profit after tax will be lower next year due to a 15% global minimum corporate tax being introduced by Singapore from January and imposed on multinational companies including DBS.

Singapore banks have benefited from higher global interest rates and strong inflows of wealth drawn in by the city-state's political stability in recent years.