DBS Group's Profit Surges Amid Challenges

DBS Group Holdings Ltd. reports a 18% increase in third-quarter net profit, benefiting from higher interest rates. The bank expects steady earnings next year, supported by strong margin growth in commercial lending. However, challenges from a cloudier economic outlook and disruptions in digital banking services are faced. Standard Bank Group Ltd. praises the South African government's budget cuts and calls for accelerated structural reforms. DBS Bank receives penalties from MAS for IT issues, but analysts believe the impact will be limited.