Q3 net profit jumps to record S3.03 bln vs S2.80 bln estimate
Establishes a S3 bln share buyback programme
Declares quarterly dividend of 54 Singapore cents a share for Q3
Net interest margin declines to 2.11 from 2.19 a year earlier

SINGAPORE, Nov 7 Reuters Singapore39;s top bank DBS sees an upside to its 2025 profit when Donald Trump takes office as U.S. president next year, as his policies could spell fewer interest rate cuts by the Federal Reserve that translate into higher net interest margin, a key profitability gauge.

The incoming Trump administration is generally expected to adopt stricter immigration policies and impose more tariffs that could spur inflation, as well as increased deficit spending, DBS CEO Piyush Gupta said in a briefing after the bank39;s quarterly earnings results on Thursday.

If that is the case, then it is possible that the Fed monetary policy might stay tighter than is currently being projected, he added. I think higher interest rate environment is generally better for DBS.

Nevertheless, Gupta said DBS, with operations across the region from Singapore to China, must be wary of legal and regulatory risks under Trump39;s administration.

DBS, Southeast Asia39;s biggest bank, posted on Thursday a record net profit in the third quarter, but forecast 2025 net profit to be below 2024 levels because the citystate is introducing a global minimum corporate tax rate.

DBS shares rose as much as 6.9 to a record high of S41.87 on Thursday…