DBS Q2 net profit rises 9% to record S$3.08 billion as wealth fees surge
DBS Bank reported a record net profit of S$3.08 billion for the second quarter, driven by strong performance in wealth management and fee-generating businesses. Despite lower interest rates, the bank has raised its full-year guidance and expects continued growth through 2026.
Why it matters
As a major financial institution in Southeast Asia, DBS's performance serves as a key indicator for regional economic health and banking sector resilience in a shifting interest rate environment.
The team is ‘firing on all cylinders’ after record profit in the quarter, says CEO Tan Su Shan
[SINGAPORE] DBS has raised its full-year guidance after record earnings in the first half, betting that strong momentum in wealth management and other fee-generating businesses will help offset pressure from lower interest rates.
CEO Tan Su Shan said the bank’s performance reflected broad-based strength across its businesses.
Speaking at DBS’ earnings briefing on Thursday (Aug 6), Tan said that the team is “firing on all cylinders and building a strong foundation for future growth”.
The lender now expects total income for 2026 to exceed 2025 levels, while group net interest income should narrow the gap with last year’s performance as rates stabilise.
It also raised its commercial book non-interest income growth forecast to the mid-teens, led by wealth management, while maintaining cost discipline and its guidance for specific allowances.
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