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DBS misses profit target as O&G inflicts fresh deep wounds

Q3 gain dives 25% to S$802m as group almost doubles specific provisions; income reaches quarterly high of S$3b

CEO Piyush Gupta: "I can say with high confidence that we've cleaned the book. We're highly unlikely to take more in the book."


STRONG business momentum helped push DBS Group Holdings' Q3 income to a quarterly high of over S$3 billion, but it did not quite take the sting from the bank's near doubling of bad loan charges for its oil and gas support services exposures.

Business momentum has been...

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