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Singapore’s DBS Q4 profit falls 33% as loan allowances increase

SINGAPORE, Feb 10 (Reuters) - Singapore’s DBS Group reported on Wednesday a 33% drop in its fourth-quarter profit on the back of increased loan loss allowances in pandemic-hit markets.

Southeast Asia’s biggest lender posted net profit of S$1 billion for the quarter ending December, in line with an average estimate of S$1.02 billion from four analysts, according to Refinitiv data. (Reporting by Anshuman Daga; Editing by Leslie Adler)

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