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Bank Profits Soar Amid Economic Uncertainty
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Bank Profits Surge in Q3
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Overview
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Singapore's largest bank, DBS, reported a 17% increase in third-quarter profit, beating forecasts. State Bank of India (SBI) also saw a 9.1% rise in quarterly profit. DBS expects steady earnings next year, benefiting from higher interest rates, while SBI forecasts strong bank credit growth and GDP growth. DBS faces challenges from a cloudier economic outlook and disruptions in digital banking services. BoM, a Pune-based public sector bank in India, led in Q2 deposit and advance growth.
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How might the cloudier economic outlook impact the long-term sustainability of DBS's steady earnings?
What factors contribute to BoM's success in Q2 deposit and advance growth, and how can it sustain this momentum in the long term?
What strategies are SBI and DBS employing to address the challenges posed by a cloudier economic outlook and disruptions in digital banking services?
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