DBS Q2 net profit rises 9% to record S$3.08 billion as wealth fees surge

[SINGAPORE] DBS’ net profit for its second quarter rose as higher non-interest income – including a surge in wealth fees – more than offset a declining rate environment.

The lender said on Thursday (Aug 6) that net profit for the three months ended Jun 30, 2026, stood at S$3.08 billion, up 9 per cent from the S$2.82 billion in the year-ago period.

The earnings beat the S$2.88 billion consensus forecast in a Bloomberg survey of five analysts.

The lender declared a total dividend of S$0.81 per share for Q2, comprising an ordinary dividend of S$0.66 and a capital return dividend of S$0.15, up from S$0.75 per share in the year-ago period.

For the commercial book, total income was up 6 per cent on the year at S$5.62 billion.

Net interest income for the segment fell 4 per cent to S$3.48 billion, as net interest margin (NIM) for the commercial book posted a 34 basis point decline to 2.21 per cent.

Commercial book net fee and commission income was up 25 per cent at a record S$1.46 billion, as wealth management fees grew 42 per cent to a new high of S$919 million from higher customer investment activity.

Treasury customer sales and other income for the segment rose 30 per cent to S$681 million.

Meanwhile, its markets trading income rose 12 per cent to S$469 million, due to volatile markets and lower funding costs.

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Overall, group NIM fell to 1.87 per cent for the quarter, from 2.05 per cent in the previous corresponding period.

Its non-performing loans ratio was flat at 1 per cent.

CEO Tan Su Shan said: “While the macroeconomic environment continues to evolve, our strong balance sheet, sound asset quality, healthy allowance reserves and capital position leave us well-placed to capture growth opportunities and continue delivering sustainable shareholder returns.”

Following a strong first-half, the bank has raised its full-year guidance, with total income now expected to exceed 2025 levels and commercial book non-interest income to grow in the mid-teens, driven by wealth management.

DBS was the first of Singapore’s three local lenders to report quarterly results. OCBC and UOB are scheduled to release their earnings on Friday.

Ahead of the results, shares of DBS closed 1.3 per cent or S$0.95 lower at S$73.55 on Wednesday.