Dbs Group Holdings Ltd · SGX:D05

Dbs — Q1 2025 Earnings Presentation

18 slides from Dbs's earnings presentation, May 8, 2025

  1. Slide 1: Record quarterly income and pre-tax earnings

    Record quarterly income and pre-tax earnings DBS Group Holdings 1Q 2025 financial results May 8, 2025 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank ac

  2. Slide 2: Highlights

    Highlights 1Q total income up 6% YoY to record $5.91bn, pre-tax profit of $3.44bn at record despite GP build Net profit 2% lower at $2.90bn due to 15% global minimum tax, ROE at 17.3%  Commercial book total income up 4% YoY to $5.54bn o NII rises 2% as balance sheet growth more than offsets nine-ba

  3. Slide 3: 1Q net profit declines 2% YoY

    1Q net profit declines 2% YoY (S$m) 1Q25 YoY % Total income record 5,905 6 Commercial book 5,542 4  Commercial book net interest income rises 2% Markets trading 363 48 from balance sheet growth Expenses 2,214 6  Fee income rises 22%, treasury customer sales Profit before allowances record 3,691 6

  4. Slide 4: 1Q net profit rises 10% QoQ

    1Q net profit rises 10% QoQ (S$m) 1Q25 QoQ % Total income record 5,905 7  Commercial book net interest income declines, Commercial book 5,542 4 lower NIM mitigated by balance sheet growth Markets trading 363 >100  Fee income growth led by wealth management and Expenses 2,214 (8) loan-related fees;

  5. Slide 5: 1Q group net interest income up 1% day-adjusted QoQ, NIM declines 3bp

    1Q group net interest income up 1% day-adjusted QoQ, NIM declines 3bp from lower interest rates Net interest margin (%) 2.77 2.83 2.83 2.77 2.68 Commercial book Group 2.14 2.14 2.11 2.15 2.12 Net interest 3,728 3,505 3,594 3,597 3,681 income (S$m) 3,647 3,769 3,796 3,831 3,719 Commercial book -142 -

  6. Slide 6: Loans up 2% QoQ led by non-trade corporate loans

    Loans up 2% QoQ led by non-trade corporate loans (S$bn) 442 Others CBG / WM 132 +7 In constant-currency terms +6  Non-trade corporate loans up 3% QoQ driven by +3 broad-based growth +7 -1 +3 across regions and +8 industries Other +1 262 +4 IBG +3  Trade loans 1% lower, +2 +1 consumer loans little

  7. Slide 7: Deposits up 3% QoQ from Casa inflows

    Deposits up 3% QoQ from Casa inflows (S$bn) 576 +7 +18 In constant-currency terms +5 FD and 273  1Q deposit growth led by others +10 +4 SGD and FCY Casa +14 +1 +3 inflows; Casa ratio at 53% +1 +10 +9  SGD Casa growth +5 +5 accelerates to $9bn FCY Casa 124 +3 +1 -0 -3 -2 -2 SGD Casa 179 -11 As at M

  8. Slide 8: 1Q fee income at record with wealth management and loan-related fees

    1Q fee income at record with wealth management and loan-related fees at new highs (S$m) 1,503 1,315 16 1,271 1,264 1,236 Investment banking 18 19 31 33 724 Wealth management 536 518 609 520 Loan-related 185 186 146 127 227 Cards 301 313 302 324 297 Transaction services 231 228 227 232 239 1Q24 2Q24

  9. Slide 9: Record quarterly Wealth Management income, AUM at new high

    Record quarterly Wealth Management income, AUM at new high (S$m) 1,487 1,325 1,358 1,295 1,238 624 Net interest income 672 649 661 639 864 Non-interest income 654 633 709 599 1Q24 2Q24 3Q24 4Q24 1Q25 YoY (%) Total income 23 19 19 10 12 Non-interest income 48 44 52 36 32 (S$bn) AUM 382 396 401 426 43

  10. Slide 10: 1Q commercial book non-interest income up YoY and QoQ

    1Q commercial book non-interest income up YoY and QoQ from record fee income and treasury customer sales (S$m) 2,156 2,224 2,052 1,888 401 530 1,777 Of which treasury 388 Markets trading 362 customer sales 261 548 +11% YoY 621 517 478 548 +32% QoQ Other non-interest income 1,275 Net fee income 1,043

  11. Slide 11: 1Q expenses up 6% YoY, cost-income ratio stable at 37%

    1Q expenses up 6% YoY, cost-income ratio stable at 37% 44 40 39 37 37 Cost / income (%) (S$m) 2,249 2,395 2,172 2,214 2,079 1,444 1,395 1,422 1,452 Staff expenses 1,333 777 827 951 Other expenses 746 762 1Q24 2Q24 3Q24 4Q24 1Q25 11

  12. Slide 12: NPA declines 3% QoQ due to lower new NPA formation and higher upgrades

    NPA declines 3% QoQ due to lower new NPA formation and higher upgrades (S$m) 1Q24 2Q24 3Q24 4Q24 1Q25 NPAs at start of period 5,056 5,221 5,077 4,680 5,036 IBG and others 75 (152) (214) 81 (146) New NPAs 317 191 452 338 159 Upgrades, settlements and recoveries (196) (308) (491) (208) (236) Write-off

  13. Slide 13: 1Q SP at 10bp

    1Q SP at 10bp (S$m) 1Q24 2Q24 3Q24 4Q24 1Q25 IBG and others 5 (11) 43 106 (14) Add charges for 54 50 168 124 168 New NPLs 45 29 147 88 65 Existing NPLs 9 21 21 36 103 Subtract charges for 49 61 125 18 182 Upgrades 0 15 1 1 119 Settlements 40 38 75 16 33 Recoveries 9 8 49 1 30 CBG / WM 96 100 110 113

  14. Slide 14: General allowance of $205m taken as prudent measure

    General allowance of $205m taken as prudent measure, allowance coverage ratio rises to 137% (S$m) 6,527 6,550 6,514 6,650 6,323 GP 3,927 3,981 3,955 3,969 4,159 SP 2,600 2,569 2,368 2,545 2,491 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Total allowance reserves as % of: NPA 125 129 135 129 137 Unsecured NPA

  15. Slide 15: Strong CET-1 and leverage ratios

    Strong CET-1 and leverage ratios (%) 18.8 18.6 18.6 0.9 0.9 1.0 0.7 0.7 0.2 16.2 16.2 Tier 2 0.9 0.8 Additional Tier 1 0.6 0.6 17.2 17.0 17.4 Common Equity Tier 1 14.7 14.8 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 RWA (S$bn) 378 386 338 352 352 Leverage ratio (%) 6.5 6.5 6.8 6.7 6.5 Fully phased-in Common

  16. Slide 16: 1Q total dividend of 75¢ per share

    1Q total dividend of 75¢ per share, comprising 60¢ ordinary dividend and 15¢ Capital Return dividend (S¢ per share) Ordinary Capital Return 222 175 60 4Q 49 54 3Q 44 75 54 15 2Q 44 54 60 1Q 38 2023 2024 2025 Dividends prior to 1Q24 adjusted for one-for-10 bonus issue announced on 7 Feb 2024 16

  17. Slide 17: In summary

    In summary Strong start to the year with broad-based business growth led by wealth management, ROE above 17% despite global minimum tax General allowance reserves strengthened in light of heightened macroeconomic risks and market volatility Remain nimble to capture opportunities while prudently mana

  18. Slide 18: Record quarterly income and pre-tax earnings

    Record quarterly income and pre-tax earnings DBS Group Holdings 1Q 2025 financial results May 8, 2025 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank ac

DBS Group Holdings — Q1 2025 Earnings Presentation on 6ix