DBS Group's Q2 net profit hits record S$3.08 billion; income S$6.09 billion; wealth AUM tops S$500 billion

DBS Group announced its results for the second quarter of 2026. Net profit for the quarter reached S$3.08 billion, up 9% year on year and setting a new record. Despite a challenging interest rate environment, total income grew 6% year on year to S$6.09 billion, also a historic high, reflecting continued growth in customer businesses, helped by higher non-interest income. Fee income remained close to record levels, with momentum in wealth management and record treasury client sales. Assets under management in this segment surpassed S$500 billion for the first time.

For the first half of the year, the group's total income and net profit rose 3% and 5% respectively, reaching S$120 billion and S$60.1 billion, both new records. Net interest income fell 3% to S$70.8 billion, with hedging operations and balance sheet growth partly offsetting the impact of rate cuts; the net interest margin narrowed 20 basis points to 1.88%. Net fee income rose 20% to a record S$29.4 billion. The cost-to-income ratio was 39%, return on equity was 17.5%, and return on tangible equity was 19.2%.

Asset quality remained sound, with the non-performing loan ratio at 1%. Specific provisions for the second quarter and the first half were 16 basis points and 15 basis points of total loans, respectively. The board declared a second-quarter ordinary dividend of 66 cents per share and a capital return dividend of 15 cents per share. Including the first quarter, cumulative ordinary and capital return dividends for the first half were 132 cents and 30 cents per share, respectively.