The Asian banking giant reported a broadly positive set of results for Q3 and the first nine months of 2015.

Singapore-listed DBS Group reported third-quarter earnings of S$1.07 billion ($762 billion), up by 6 per cent from a year ago, while total income rose 8 per cent to S$2.71 billion as net interest income reached a record with net interest margin at a four-year high.

Compared to the previous quarter, total income and profit before allowances were both little changed. An increase in net interest income was offset by a decline in non-interest income. Financial market volatility during the quarter reduced fee income from wealth management and investment banking. 

In the consumer banking and wealth management segment, it reported pre-tax profit of S$275 million, against S$252 million a year before.

“In a quarter marked by slower regional growth and intense market volatility, the bank’s earnings continued to hold strong. Significantly, net interest margin is at a four-year high,” Piyush Gupta, chief executive at DBS, said.

The results included a charge of S$50 million taken to trading income as DBS incorporated funding valuation adjustments to the fair value of over-the-counter derivatives. The bank said that in taking this course it becomes an early adopter in Asia of a newly-instituted industry best practice. Adjusting for the charge, net profit would have been 10 per cent higher than a year ago and stable from the previous quarter.

For the nine months, net profit grew 8 per cent year-on-year to a record S$3.45 billion. 

Net interest income in Q3 increased 13 per cent from a year ago to S$1.81 billion; over the first nine months of the year to end-September.

DBS said its capital position “remained healthy”. While the Common Equity Tier-1 ratio fell 50 basis points to 12.9 per cent due to the payment of interim dividends and to currency translation effects, it remained “comfortably above” regulatory requirements.