DBS Group has reported a 1% increase in net profit for the first quarter of 2026, reaching S$2.93b. The bank’s total income hit a new high of S$5.95b, driven by exceptional performance in wealth management, which boosted fee income and treasury customer sales. Despite challenges from lower interest rates and a stronger Singapore dollar, DBS maintained a cost-income ratio of 39% and a stable non-performing loan (NPL) ratio of 1.0%.
Compared to the previous quarter, DBS’s net profit surged by 24%. Non-interest income saw a 41% rise, with significant gains in fee income and treasury customer sales, whilst markets trading income more than doubled. Expenses decreased by 3%, and specific allowances were reduced by more than half.
DBS CEO Tan Su Shan commented, “We had a strong start to the year, with record total income and a return on equity of 17% despite continued rate headwinds and heightened geopolitical uncertainty.” She highlighted the bank’s resilience and ability to support client needs in a challenging environment.
The bank remains vigilant about potential uncertainties, such as the Iran war, but stress tests indicate a sound credit portfolio. DBS continues to invest in growth initiatives, including transformational technology, to enhance customer service and seize long-term opportunities.
Looking ahead, DBS’s solid balance sheet, strong capital position, and robust liquidity are expected to underpin its resilience amidst ongoing global uncertainties.
