Singapore  - Singapore's DBS Group Holdings, the biggest bank in South-East Asia, said Friday that its net profit for the second quarter fell by 15 per cent from a year ago as bad debt charges soared.

Net profit for the three months of April-June reached 552 million Singapore dollars (384.34 million US dollars), down from 652 million Singapore dollars a year ago, DBS said in a statement.

Allowances for credit and other losses came to 466 million Singapore dollars in the second quarter, more than eight times the 56 million Singapore dollars from a year earlier.

"DBS is well positioned to weather the uncertainties ahead as our balance sheet remains strong," chairman Koh Boon Hwee said.

"We will continue to focus on our customers, on managing risks and on being disciplined in managing our costs."

DBS, Singapore's biggest listed bank, was the city-state's third bank to release its latest financial results this week.

On Wednesday, United Overseas Bank Group (UOB) posted a 21.7-per- cent slump in net profit year-on-year as bad debt charges more than doubled in the second quarter.

UOB said it was upbeat about future prospects as global sentiments improve.

Singapore's smallest listed bank, Oversea-Chinese Banking Corp, on Monday announced a surprising 10-per-cent rise in quarterly net profit to 466 million Singapore dollars. (dpa)