Update: DBS' Q3 net profit up 17% on broad-based growth

DBS Group on Friday said its net profit for the third quarter ended Sept 30, 2014 was at S$1.01 billion, up 17 per cent from S$862 million a year ago.

The net profit was 4 per cent higher than the previous quarter's, and beat the S$975 million average of four analysts' estimates compiled by Bloomberg.

DBS CEO Piyush Gupta said, "Despite some slowdown in the region, we continued to see very strong earnings momentum in the third quarter, fuelled by broad-based growth across businesses.''