Singapore's DBS Q3 net profit rises as wealth-management fees boost results

Overview

• Singapore bank's Q3 net profit was SGD 2.81 bln, up from a year ago

• Q3 total income fell 1% yr/yr to SGD 5.85 bln

• Company declared interim and capital return dividends totaling SGD 2.3 bln

Outlook

• DBS sees 2027 total income growth in the mid-single-digit range, assuming Sora averages about 1.6%

• Group targets a 2027 cost-income ratio in the low-40% range, with mid-single-digit expense growth

• DBS assumes 2027 SP of 17-20 bps, with GP reserves providing an ample buffer against risk

Result Drivers

• NET INTEREST INCOME – Q3 NII rose 4% as proactive hedging and balance-sheet growth more than offset lower Sora

• WEALTH AND TREASURY FEES – Fee income rose 6%, led by wealth-management fees supported by AUM growth; treasury customer sales lifted other income

• MARKETS TRADING HEADWIND – Markets trading income fell 65% to S$152 mln on unfavourable market conditions, offsetting franchise growth

Company press release:

Key Details

Reuters Recommended Reads

• Nov 4 - Singapore's UOB misses on Q3 profit, margin pressures loom; shares slide

• Nov 1 - China's big banks post fastest quarterly profit growth in years as margins stabilise

• Nov 4 - National Australia Bank's full-year cash profit misses estimate on higher provisions

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)