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OverviewAPI
Singapore's largest bank, DBS, reports a 17% increase in third-quarter profit, beating forecasts. State Bank of India (SBI) reports a 9.1% increase in quarterly profit, higher income, and lower provisions. DBS expects steady earnings next year, benefiting from higher-for-longer interest rates and a strong balance sheet. DBS CEO Piyush Gupta anticipates higher interest rates to be a net benefit to earnings. DBS faces challenges from a cloudier economic outlook and disruptions in digital banking services, leading to a ban on acquiring new business ventures and reducing local branch and ATM networks for six months.

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