Fee income was S$137m ($97.7m, £63.3m, €88.7m), down from S$142m in the third quarter of 2014.
On a quarter-on-quarter basis, wealth management net fees and commission decreased sharply by 22%, attributed by DBS to financial market volatility affecting investment and insurance product sales.
During the first nine months of the year, however, DBS’s wealth management division reported growth of 21% to S$479m, when compared with S$397m during the same period last year.
In Singapore, non-interest income was little changed during the third quarter at S$470m, as a decline in wealth management and investment banking fees was partially offset by higher trading income.
In Hong Kong, however, DBS reported a decrease in non-interest income during the quarter of 18% to S$248m; as wealth management, stockbroking, and debt origination activities were also affected by financial market volatility.
