Singapore’s DBS Bank considers expanding into prime brokerage for hedge funds as trading revenue plunges 65%

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DBS Group is considering offering prime brokerage services to hedge funds and other institutional investors. CEO Tan Su Shan said the bank already has custody, market access and trading capabilities, but has not yet determined the business structure. Third-quarter markets trading income fell 65% year on year to S$152 million, while net profit declined 5% year on year to S$2.81 billion.