SINGAPORE (Oct 21): DBS Group Holdings is set to report a decline in net profit for the third quarter of as much as 4.1% due to recent market volatility, compared with the previous three months, UOB Kay Hian says in a note.

Southeast Asia’s largest bank could suffer “weakness in market-sensitive revenue streams, such as wealth management and investment banking,” the brokerage says, adding that it expects asset quality to remain resilient.

UOB Kay Hian is maintaining its buy rating and target price of $23.75.

At 11.32am, DBS is up 0.6% at $17.86.