SINGAPORE -- Southeast Asia's largest lender, DBS Group Holdings, on Wednesday reported a 33% year-on-year drop in net profit for the three months ended December, as pressures from the COVID-19 pandemic forced the bank to continue building reserves against the risk of poor-quality assets.
DBS booked a net profit of 1.01 billion Singapore dollars ($760 million) for the period, compared with SG$1.51 billion the previous year, barely breaking the billion-dollar mark in local currency terms. In earlier quarters it did so with relative ease.
