DBS looks to volume growth to mitigate falling interest rates; stock soars to record high, hits S$50 mark

[SINGAPORE] Shares of DBS soared to a record high on Thursday (Aug 7) – briefly hitting a milestone S$50 mark – as South-east Asia’s biggest lender beat expectations for its second-quarter results amid challenging times ahead for the banks.

The counter eased to close at S$49.75, up 1.8 per cent for the day, after some 6.5 million shares changed hands. Shares of DBS have climbed 13.8 per cent in the year to date.

In the quarters ahead, the bank expects falling interest rates to put a dent in its net interest margin (NIM). But chief executive Tan Su Shan believes deposits volume growth will continue to support net interest income for 2025.