Bank Profits Soar Amid Economic Uncertainty

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.