DBS Shares Slip as Profit Misses on Weaker Loan Margins, Tax

DBS Group Holdings Ltd. reported fourth-quarter profit that missed expectations as lower lending margins and higher tax expenses eclipsed gains from its wealth business.

Net income, excluding one-time items, dropped 10% to S$2.36 billion ($1.85 billion) in the three months ended Dec. 31, Southeast Asia’s largest lender said in a statement on Monday. That compared with the S$2.57 billion average estimate of analysts surveyed by Bloomberg.