DBS Group reported a record second-quarter net profit of S$3.08 billion, up 9% from a year earlier, with quarterly total income exceeding S$6 billion for the first time. Singapore's largest bank also lifted its full-year guidance alongside the results.
First-half total income and net profit both reached new highs, DBS said, while return on equity for the six-month period came in at 17.5%. First-half total income rose 3% to S$12.0 billion and net profit rose 5% to S$6.01 billion.
TOTAL INCOME BREACHES S$6 BILLION
Second-quarter total income rose 6% to S$6.09 billion despite a challenging rate environment, driven by higher non-interest income. Net fee income rose 25% to S$1.46 billion, led by wealth management fees, which grew 42% to a record S$919 million, while group net interest income declined 2% to S$3.58 billion due to lower interest rates.
For the first half of 2026 as a whole, both total income and net profit reached new highs. Return on equity for the half was 17.5% and return on tangible equity 19.2%.
Wealth segment assets under management rose 16% in constant-currency terms to S$516 billion, passing S$500 billion for the first time.
FULL-YEAR GUIDANCE LIFTED
DBS raised its full-year 2026 guidance alongside the results.
Group net interest margin fell 18 basis points from a year earlier to 1.87%. Chief executive Tan Su Shan said record total income and net profit and a return on equity of 17.5% "reflect proactive balance sheet management in navigating a challenging interest rate environment".
DBS publishes the full press statement, together with the accompanying financial disclosure package and investor materials, through its investor relations pages. The Board declared an ordinary dividend of 66 Singapore cents per share and a Capital Return dividend of 15 Singapore cents per share for the second quarter. DBS shares rose to a record high after the results, Reuters reported.
Asset quality remained resilient, with the non-performing loan ratio stable at 1.0%.