According to the SGX Research report, DBS, Oversea-Chinese Banking Corp (OCBC), and United Overseas Bank (UOB) have reported a combined non-interest income (NOII) of S$5.16b for the first quarter of 2026, setting a new record. This figure represents a significant increase from S$4b n the previous quarter and S$4.78b in the same period last year, accounting for 39% of their total income.
The growth in NOII was driven by robust contributions from fee income, treasury customer sales, trading income, and insurance. DBS achieved record fee income and treasury customer sales, largely due to wealth management. OCBC saw double-digit growth in wealth management fees, whilst UOB highlighted strong customer treasury flows. This diversified earnings mix has helped offset the impact of lower interest rates.
Despite a slight decline in net interest income (NII) to S$8.04b, the banks have maintained a stable asset quality with unchanged non-performing loan (NPL) ratios. DBS, OCBC, and UOB reported NPL ratios of 1.0%, 0.9%, and 1.5%, respectively, supported by low non-performing asset formation and disciplined provisioning.
Looking ahead, the banks’ guidance for 2026 focuses on balancing rate headwinds with funding discipline and fee-driven income growth. DBS expects total income to remain around 2025 levels, whilst OCBC and UOB anticipate stable to growing total income, supported by strong balance sheets and capital positions.
