Dbs Group Holdings Ltd · SGX:D05

Dbs — Q4 2025 Earnings Presentation

30 slides from Dbs's earnings presentation, Feb 9, 2026

  1. Slide 1: Record full-year income and pre-tax profit

    Record full-year income and pre-tax profit DBS Group Holdings 4Q 2025 financial results February 9, 2026 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

  2. Slide 2: Highlights

    Highlights FY pre-tax profit at new high of $13.1b, ROE at 16.2% and ROTE at 17.8%  Total income up 3% to record $22.9b despite rate headwinds o Group NII modestly higher from record deposit growth and proactive balance sheet hedging o Fee income and treasury customer sales reach new highs o Market

  3. Slide 3: FY total income and pre-tax profit reach new highs

    FY total income and pre-tax profit reach new highs (S$m) FY25 YoY % Commercial book 21,526 1 Markets trading  Record group net interest income as deposit 1,374 49 growth and hedging offset rates impact Total income record 22,900 3 of which: Net interest income record 14,500 1  Record fees and trea

  4. Slide 4: 4Q profit before tax declines 6% YoY

    4Q profit before tax declines 6% YoY (S$m) 4Q25 YoY % Commercial book 5,177 (3) Markets trading 154 (3)  Group net interest income declines 4% from rates Total income 5,331 (3) impact of which: Net interest income 3,593 (4)  Fee income growth led by wealth management; Expenses 2,372 (1) treasury c

  5. Slide 5: 4Q profit before tax declines 20% QoQ

    4Q profit before tax declines 20% QoQ (S$m) 4Q25 QoQ % Commercial book 5,177 (6) Markets trading 154 (65)  Group net interest income marginally higher from Total income 5,331 (10) sustained deposit growth of which: Net interest income 3,593 0  Fee income and treasury customer sales seasonally Expe

  6. Slide 6: 4Q group net interest income marginally higher QoQ, strong deposit growth momentum offsets lower Sora

    4Q group net interest income marginally higher QoQ, strong deposit growth momentum offsets lower Sora Net interest margin (%) 2.68 2.80 2.55 Commercial book 2.48 2.40 2.34 Group 2.13 2.01 2.12 2.05 1.96 1.93 Net interest 14,424 14,500 income (S$m) 6 3,681 3,648 3,578 3,593 23 20 1 Commercial book 15

  7. Slide 7: Deposits up 3% QoQ, 12% over FY

    Deposits up 3% QoQ, 12% over FY (S$b) Constant-FX change 610 +19 +64 +18 +2 +16 In constant-FX terms FD and 278 +5 others +17 +1 +5  Deposits grow 3% QoQ and 12% over FY +11 +4 led by Casa inflows +19 +9 FCY Casa 135  FY deposit growth of $64b strongest in +9 +12 history +9 SGD Casa 197 +28 +5 +1

  8. Slide 8: Loans up 2% QoQ, surplus deposits deployed to HQLA

    Loans up 2% QoQ, surplus deposits deployed to HQLA Gross Constant-FX change loans (S$b) 451 +10 +24 Others +7  4Q loans up 2% QoQ CBG / WM 135 +1 +3 led by trade loans +1  FY loans up 6% from +5 +2 +10 broad-based growth in +8 +0 corporate and WM Other +3 +6 loans 260 IBG +3 +8  Surplus deposits

  9. Slide 9: FY fee income rises to record, broad-based growth led by wealth management

    FY fee income rises to record, broad-based growth led by wealth management (S$m) 1,581 5,860 1,503 1,395 51 1,381 5,086 146 16 1,236 31 48 Investment banking 101 33 2,814 724 796 Wealth management 2,183 649 645 520 Loan-related 644 733 127 227 185 183 138 Cards 1,240 1,225 324 297 302 303 323 Transa

  10. Slide 10: FY Wealth segment income, NNM and AUM at new highs

    FY Wealth segment income, NNM and AUM at new highs (S$m) 5,680 1,487 1,536 5,216 1,353 1,238 1,303 Net 2,393 624 597 interest income 2,621 600 572 639 Non-interest 3,287 864 939 2,595 753 731 income 599 FY24 FY25 4Q24 1Q25 2Q25 3Q25 4Q25 YoY (%) Total income 18 9 10 12 5 13 5 Non-interest income 45

  11. Slide 11: FY customer-driven non-interest income up 16% from record fee income and treasury customer sales

    FY customer-driven non-interest income up 16% from record fee income and treasury customer sales (S$m) 7,040 1,938 1,840 6,054 1,678 1,584 2,142 581 1,397 565 Treasury 1,886 511 customer sales 485 429 4,898 1,275 1,357 Net fee income 4,168 1,167 1,099 968 FY24 FY25 4Q24 1Q25 2Q25 3Q25 4Q25 11

  12. Slide 12: FY cost-income ratio unchanged at 40%

    FY cost-income ratio unchanged at 40% Cost-income 44 40 40 40 40 ratio (%) 37 (S$m) 9,249 2,393 2,372 8,895 2,270 2,214 Staff 5,832 1,541 1,382 5,594 1,457 expenses 1,452 Other 3,417 990 3,301 762 813 852 expenses FY24 FY25 1Q25 2Q25 3Q25 4Q25 12

  13. Slide 13: FY CBG / WM income up 4%

    FY CBG / WM income up 4% (S$m) FY25 FY24 YoY % Total income 10,541 10,155 4  Total income up 4% to $10.5b from Loans and deposits 5,790 6,239 (7) strong growth in investment product Investment products 3,769 3,026 25 sales and bancassurance Cards 953 856 11  Wealth management AUM increases Others

  14. Slide 14: FY IBG income declines 3%

    FY IBG income declines 3% (S$m) FY25 FY24 YoY % Total income 8,906 9,159 (3)  Total income declines 3% to Loans 3,414 3,384 1 $8.91b Trade 630 638 (1)  Higher loan-related fees, Cash / SFS 3,672 4,077 (10) investment banking fees, Treasury and investment banking 1,191 1,060 12 transaction service

  15. Slide 15: FY treasury customer income up 23% to record, Markets trading income 49% higher

    FY treasury customer income up 23% to record, Markets trading income 49% higher (S$m) 4,216 1,271 1,055 1,072 3,237 819 2,842 704 831 692 653 Treasury 2,315 customer income 666 545 Markets 1,374 363 418 439 922 trading income 158 154 FY24 FY25 4Q24 1Q25 2Q25 3Q25 4Q25 YoY (%) Treasury 20 23 21 13 16

  16. Slide 16: FY Hong Kong net profit up 3% to record

    FY Hong Kong net profit up 3% to record (S$m) FY25 YoY % Constant-FX YoY%  Total income up 6% to $3.52b led by wealth management Total income 3,524 4 6  Net interest income up 3% as deposit Expenses 1,333 1 3 growth more than offsets lower Hibor Profit before allowances 2,191 6 8  Allowances rise

  17. Slide 17: NPL ratio stable at 1.0%, notwithstanding prudent downgrade of a previously watchlisted real estate exposure

    NPL ratio stable at 1.0% notwithstanding prudent downgrade of a previously watchlisted real estate exposure (S$m) FY24 FY25 1Q25 2Q25 3Q25 4Q25 NPAs at start of period 5,056 5,036 5,036 4,861 4,686 4,627 IBG and others (210) (79) (146) (97) (84) 248 New NPAs 903 1,034 159 244 113 751 Upgrades, settl

  18. Slide 18: FY SP at 19bp

    FY SP at 19bp (S$m) FY24 FY25 1Q25 2Q25 3Q25 4Q25 IBG and others 142 411 (14) 72 71 282 Add charges for 377 703 168 100 120 355 New NPLs 278 428 65 29 31 308 Existing NPLs 99 275 103 71 89 47 Subtract charges for 235 292 182 28 49 73 Upgrades 17 119 119 1 0 1 Settlements 151 125 33 23 41 68 Recoveri

  19. Slide 19: GP reserves remain prudent

    GP reserves remain prudent (S$m) 6,514 6,650 6,441 6,425 6,281 GP 3,969 4,159 4,109 4,071 3,859 SP 2,545 2,491 2,332 2,354 2,422 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 Total allowance reserves as % of: NPA 129 137 137 139 130 Unsecured NPA 226 230 236 229 197 19

  20. Slide 20: Strong CET-1 and leverage ratios

    Strong CET-1 and leverage ratios (%) 18.6 18.6 18.2 Tier 2 0.9 1.0 17.8 17.9 0.9 Additional Tier 1 0.7 0.2 0.9 0.9 0.3 17.4 Common Equity Tier 1 17.0 17.0 16.9 17.0 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 RWA (S$bn) 352 352 355 367 365 Leverage ratio (%) 6.7 6.5 6.5 6.2 6.2 Fully phased-in Common Equity

  21. Slide 21: 4Q total dividend at 81¢ per share, with ordinary dividend up 6¢ to 66¢ and Capital Return dividend at 15¢

    4Q total dividend at 81¢ per share, with ordinary dividend up 6¢ to 66¢ and Capital Return dividend at 15¢ (S¢ per share) 306 Ordinary 15 Capital Return 66 81 222 15 175 60 75 60 4Q 49 15 54 60 75 3Q 44 54 44 15 2Q 60 75 1Q 38 54 2023 2024 2025 Dividends prior to 1Q24 adjusted for one-for-10 bonus i

  22. Slide 22: In summary

    In summary Record pre-tax profit and 16% ROE demonstrate franchise’s resilience and adaptability amid rate and tax headwinds Fee income and treasury customer sales reach new highs led by wealth management; deposit growth strongest in the bank’s history While rate pressures and geopolitical tensions

  23. Slide 23: Supplementary slides

    Supplementary slides DBS Group Holdings 4Q 2025 financial results February 9, 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 accepts no liability

  24. Slide 24: FY pre-tax profit up 1% to record $13.1b

    FY pre-tax profit up 1% to record $13.1b (S$m) FY25 FY24 YoY % Commercial book total income 21,526 21,375 1 Net interest income 14,494 15,043 (4) Net fee and commission income 4,898 4,168 18 Treasury customer sales and other income 2,134 2,164 (1) Markets trading income 1,374 922 49 Net interest inc

  25. Slide 25: FY Hong Kong net profit up 3%

    FY Hong Kong net profit up 3% Constant-FX basis (S$m) FY25 FY24 YoY % YoY % Total income 3,524 3,388 4 6 Net interest income 2,090 2,076 1 3 Net fee and commission income 993 831 19 22 Other non-interest income 441 481 (8) (7) Expenses 1,333 1,326 1 3 Profit before allowances 2,191 2,062 6 3 Allowan

  26. Slide 26: NPL ratio at 1.0%, allowance coverage above 100%

    NPL ratio at 1.0%, allowance coverage above 100% 1.1 1.1 1.0 1.0 1.0 NPL ratio (%) NPA (S$m) 5,036 4,861 4,686 4,627 4,843 31% 27% 24% 24% Not overdue 35% 9% 11% 9% Within 90 days overdue 11% 9% More than 90 days overdue 57% 64% 65% 67% 56% Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 SP / loans (bp) 20 10 15

  27. Slide 27: Fixed income duration remains short

    Fixed income duration remains short ($m) Dec 25 FVOCI HTC Government securities 32,202 56,114 Less than 3 years 25,807 43,687 3 to 5 years 3,600 5,546 5 to 10 years 2,469 6,392 More than 10 years 326 489 Supranational, bank and corporate bonds 23,851 59,324 Total 56,053 115,438 Time-banding is based

  28. Slide 28: Deposits up 6% HoH and 12% YoY in constant-FX terms

    Deposits up 6% HoH and 12% YoY in constant-FX terms (S$b) HoH (%) YoY (%) Dec 25 Reported Underlying Reported Underlying Deposits 610 6 6 9 12 By product Casa 332 11 10 14 17 Fixed deposits and others 278 2 1 3 7 By currency Singapore dollar 231 7 7 13 13 US dollar 241 10 9 8 14 HK dollar 32 (8) (9)

  29. Slide 29: FY GTS income down 9%

    FY GTS income down 9% Total income 4,716 4,303 1,144 1,105 (S$m) 1,059 1,069 1,069 Cash / SFS Trade FY24 FY25 4Q24 1Q25 2Q25 3Q25 4Q25 (S$b) Trade assets 48 54 48 46 44 47 54 Deposits 192 216 192 195 192 208 216 29

  30. Slide 30: Record full-year income and pre-tax profit

    Record full-year income and pre-tax profit DBS Group Holdings 4Q 2025 financial results February 9, 2026 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

DBS Group Holdings — Q4 2025 Earnings Presentation on 6ix