DBS to give junior staff special one-time bonus of S$1,000 each

[SINGAPORE] DBS on Monday (Feb 9) announced that it will award a one-time special bonus of S$1,000 to its junior-ranked employees.

The initiative will benefit more than 23,000 employees across the bank’s global markets. In Singapore alone, nearly 6,800 employees are set to receive the payout. 

DBS said it has earmarked a total of S$18 million for this exercise.

This year’s allocation marks an increase from a similar exercise conducted in 2024, where the bank distributed a total of S$15 million to its junior workforce. Employees had also received S$1,000 each then.

DBS CEO Tan Su Shan said: “In spite of a difficult environment, DBS delivered a resilient set of results and we wanted to specially recognise the contributions of our junior staff.”

The amount received by each employee outside of Singapore will be indexed to the local market’s purchasing power parity, DBS said.

Earlier on Monday, the lender posted a 10 per cent decline in fourth-quarter net profit to S$2.26 billion, compared with S$2.52 billion for the year-ago period. This missed the S$2.59 billion consensus forecast in a Bloomberg survey of six analysts.

For the full year, net profit fell 3 per cent to S$10.9 billion, reflecting higher tax expenses from the consequential implementation of the 15 per cent global minimum tax.

The full-year figure also missed the S$11.27 billion consensus estimate in a Bloomberg survey of 15 analysts.

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DBS shares close 1.9% lower after Q4 profit falls short of forecasts

For Q4, DBS declared an ordinary dividend of S$0.66 per share and a capital return dividend of S$0.15 per share. This brings the total dividend payout to S$0.81 per share for the quarter, compared with S$0.60 per share in the year-ago period.

Shares of DBS fell 1.9 per cent or S$1.11 to close at S$58.19 on Monday.