In brief
DBS Group Holdings, Singapore’s largest bank, reported a 5% drop in third‑quarter net profit to S$2.81 billion, citing lower market‑trading income amid subdued equity markets. The bank’s net profit for the first nine months of 2026 rose 2% to a record S$8.82 billion, bolstered by strong fee income and treasury customer sales led by wealth management. CEO Tan Su Shan highlighted resilience in the global economy and prudence in managing risks as the bank looks ahead to 2027.
In Singapore, DBS Group Holdings announced on Nov. 5 that its third‑quarter net profit fell 5% year‑on‑year to S$2.81 billion (about US$2.2 billion), mainly due to lower market‑trading income caused by adverse equity market conditions.
The bank said its total income for the quarter declined 1% from a year earlier, a drop that reflected weaker trading results overall.
Despite the quarterly dip, DBS’s nine‑month net profit for 2026 rose 2% year‑on‑year to a record S$8.82 billion, while its total income increased 2% to a new high of S$17.9 billion.
Drivers of the year‑to‑date performance include double‑digit growth in fee income and treasury customer sales, which reached new highs, largely led by the bank’s wealth‑management business.
CEO Tan Su Shan said the global economy had stayed resilient, yet the outlook had become more uncertain because of elevated energy prices, tighter financial conditions and geopolitical risks.
Tan Su Shan, CEO of DBS
As we enter 2027, we will stay nimble to capture opportunities while prudently managing risks. A more supportive interest‑rate environment and continued structural growth opportunities would benefit earnings, while our strong capital and liquidity positions and healthy general allowance buffers provide resilience against macroeconomic uncertainty.
Across the board, the bank noted that its wealth‑management unit had continued to drive fee growth, supplementing the weaker trading income seen in the third quarter.
The bank’s treasury division also benefited from increased customer sales, contributing significantly to the record earnings for the first nine months.
DBS’s financial statements also highlighted robust capital adequacy and liquidity ratios, underscoring its capacity to weather ongoing market volatility.
Analysts said the bank’s performance underscored the resilience of Singapore’s banking sector as it navigates a complex global economic landscape.
Moving forward, DBS aims to maintain its focus on core strengths while remaining flexible to capture emerging opportunities and mitigate risks in an evolving financial environment.