Dbs Group Holdings Ltd · SGX:D05

Dbs — Q2 2025 Earnings Presentation

29 slides from Dbs's earnings presentation, Aug 7, 2025

  1. Slide 1: Record first-half income and pre-tax profit

    Record first-half income and pre-tax profit DBS Group Holdings 2Q 2025 financial results August 7, 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

  2. Slide 2: Highlights

    Highlights 2Q pre-tax profit up 5% YoY to $3.39bn; net profit up 1% to $2.82bn despite heightened uncertainty, sharp Sora and Hibor declines, significant currency fluctuations, and global minimum tax  Total income up 5% YoY to $5.73bn o NII rises 2%, supported by strong deposit growth and proactive

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

    2Q net profit up 1% YoY (S$m) 2Q25 YoY % Total income 5,732 5  Commercial book net interest income falls 4%; Commercial book 5,314 0 impact of lower rates mitigated by hedging and Markets trading 418 >100 deposit growth Expenses 2,270 5  Fee income rises 11% led by wealth management; Profit before

  4. Slide 4: 2Q net profit declines 3% QoQ

    2Q net profit declines 3% QoQ (S$m) 2Q25 QoQ % Total income 5,732 (3)  Commercial book net interest income declines 3%; Commercial book 5,314 (4) impact of lower rates mitigated by hedging and Markets trading 418 15 deposit growth Expenses 2,270 3  Fee income 8% lower as wealth management and Prof

  5. Slide 5: 1H pre-tax profit up 3% to new high

    1H pre-tax profit up 3% to new high 1H25 YoY % Total income record 11,637 5 Commercial book 10,856 2  Commercial book total income up 2% as record Markets trading 781 80 fees and treasury customer sales offset decline Expenses 4,484 5 in net interest income Profit before allowances record 7,153 5 

  6. Slide 6: 2Q group net interest income higher YoY and little changed QoQ

    2Q group net interest income higher YoY and little changed QoQ, lower interest rates cushioned by hedging and deposit growth Net interest margin (%) 2.83 2.83 2.77 2.80 2.68 Commercial book 2.61 2.55 Group 2.14 2.08 2.14 2.15 2.12 2.11 2.05 Net interest 7,099 7,329 3,728 income (S$m) 3,594 3,597 3,6

  7. Slide 7: Loans up 1% QoQ, 3% over first half

    Loans up 1% QoQ, 3% over first half (S$bn) 439 +12 Others +7 CBG / WM 133 In constant-currency terms +5  Loans up 1% QoQ and 3% +11 YTD, led by broad-based +8 growth in non-trade Other 260 corporate loans IBG +3 -0 +0 Trade 42 -1 As at Jun 25 1H25 1Q25 2Q25 Constant-currency change Gross loans 7

  8. Slide 8: Deposits up 2% QoQ, 5% over first half

    Deposits up 2% QoQ, 5% over first half (S$bn) 574 +18 +29 In constant-currency terms FD and +5 273 others  2Q deposits up 2% QoQ +13 from both FD and Casa +11 +4  1H deposits up 5% YTD; more than half the increase FCY Casa 121 +5 from Casa +9 +11 +9 SGD Casa 180 +1 +2 As at Jun 25 1H25 1Q25 2Q25 C

  9. Slide 9: 2Q fee income up YoY led by wealth management, 1H at record

    2Q fee income up YoY led by wealth management, 1H at record 1,503 (S$m) 2,898 1,395 1,315 16 2,535 47 1,264 1,236 31 19 31 Investment banking 37 33 724 1,373 649 Wealth management 1,054 518 609 520 Loan-related 371 412 186 146 127 227 185 Cards 614 599 313 302 324 297 302 Transaction services 459 46

  10. Slide 10: Record 1H Wealth Management income, AUM at new high

    Record 1H Wealth Management income, AUM at new high (S$m) 2,841 1,487 2,620 1,295 1,358 1,353 1,238 1,224 624 Net interest income 1,333 649 600 661 639 Non-interest income 1,617 864 753 1,287 633 709 599 1H24 1H25 2Q24 3Q24 4Q24 1Q25 2Q25 YoY (%) Total income 21 8 19 19 10 12 5 Non-interest income 4

  11. Slide 11: 2Q commercial book non-interest income rises 11% YoY

    2Q commercial book non-interest income rises 11% YoY, 1H up 10% to record (S$m) 4,308 2,156 2,224 3,940 2,084 796 1,888 401 530 1,777 395 750 Markets trading 362 261 1,070 548 1,099 517 522 478 548 Other non-interest income 2,442 1,275 1,167 Net fee income 2,091 1,048 1,109 968 1H24 1H25 2Q24 3Q24 4

  12. Slide 12: 1H CBG / WM income up 4%

    1H CBG / WM income up 4% (S$m) 1H25 1H24 YoY % Total income 5,284 5,059 4  Total income up 4% to $5.28bn led by Loans and deposits 2,955 3,124 (5) higher fee income from investment Investment products 1,846 1,492 24 product and bancassurance sales Cards 455 420 8  Wealth management AUM increases O

  13. Slide 13: 1H IBG income declines 4%

    1H IBG income declines 4% (S$m) 1H25 1H24 YoY % Total income 4,506 4,687 (4)  Total income declines 4% to $4.51bn Loans 1,757 1,741 1 Trade 315 320 (2)  Higher loan-related fees and treasury customer income offset by Cash / SFS 1,848 2,082 (11) lower net interest income Treasury and investment ban

  14. Slide 14: 1H treasury customer income up 14% to record, Markets trading income 80% higher

    1H treasury customer income up 14% to record, Markets trading income 80% higher 1,055 1,072 (S$m) 2,126 924 1,609 751 704 692 653 1,345 CBG and IBG 593 treasury 1,176 563 545 customer income 781 363 418 Markets trading 331 433 187 158 income 1H24 1H25 2Q24 3Q24 4Q24 1Q25 2Q25 YoY (%) CBG and IBG tre

  15. Slide 15: 1H Hong Kong net profit up 11% YoY to record

    1H Hong Kong net profit up 11% YoY to record Constant- (S$m) 1H25 YoY % currency YoY%  Total income up 8% to record 8 $1.78bn, driven by wealth Total income 1,780 6 management and trading income Expenses 636 2 4  Net interest income declines 1% Profit before allowances 1,144 9 11 from lower Hibor,

  16. Slide 16: NPA declines 4% QoQ as repayments and write-offs more than offset new NPA formation

    NPA declines 4% QoQ as repayments and write-offs more than offset new NPA formation (S$m) 1H24 1H25 2Q24 3Q24 4Q24 1Q25 2Q25 NPAs at start of period 5,056 5,036 5,221 5,077 4,680 5,036 4,861 IBG and others (77) (243) (152) (214) 81 (146) (97) New NPAs 417 345 191 452 338 159 244 Upgrades, settlement

  17. Slide 17: 2Q SP at 15bp, 1H at 12bp

    2Q SP at 15bp, 1H at 12bp (S$m) 1H24 1H25 2Q24 3Q24 4Q24 1Q25 2Q25 IBG and others (6) 58 (11) 43 106 (14) 72 Add charges for 93 262 50 168 124 168 100 New NPLs 68 93 29 147 88 65 29 Existing NPLs 25 169 21 21 36 103 71 Subtract charges for 99 204 61 125 18 182 28 Upgrades 15 120 15 1 1 119 1 Settlem

  18. Slide 18: Allowance coverage ratio at 137%

    Allowance coverage ratio at 137% (S$m) 6,550 6,514 6,650 6,441 6,323 GP 3,981 3,955 3,969 4,159 4,109 SP 2,569 2,368 2,545 2,491 2,332 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Total allowance reserves as % of: NPA 129 135 129 137 137 Unsecured NPA 227 242 226 230 236 18

  19. Slide 19: Strong CET-1 and leverage ratios

    Strong CET-1 and leverage ratios (%) 18.8 18.6 18.6 18.2 0.9 0.9 1.0 0.7 0.2 0.9 0.7 0.3 16.2 Tier 2 0.8 Additional Tier 1 0.6 17.2 17.0 17.4 17.0 Common Equity Tier 1 14.8 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 RWA (S$bn) 386 338 352 352 355 Leverage ratio (%) 6.5 6.8 6.7 6.5 6.5 Fully phased-in Common

  20. Slide 20: 2Q total dividend of 75¢ per share, comprising 60¢ ordinary dividend and 15¢ Capital Return dividend

    2Q total dividend of 75¢ per share, comprising 60¢ ordinary dividend and 15¢ Capital Return dividend (S¢ per share) Ordinary Capital Return 222 175 60 150 4Q 49 15 54 60 75 3Q 44 54 15 2Q 44 60 75 54 1Q 38 2023 2024 2025 Dividends prior to 1Q24 adjusted for one-for-10 bonus issue announced on 7 Feb

  21. Slide 21: In summary

    In summary Strong first-half performance despite challenging environment Ability to manage balance sheet nimbly, grow deposits and capture market opportunities help offset external pressures ROE of 17% despite global minimum tax reflects deepening customer relationships across wealth management and

  22. Slide 22: Supplementary slides

    Supplementary slides DBS Group Holdings 2Q 2025 financial results August 7, 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 wh

  23. Slide 23: 1H pre-tax profit up 3% to record $6.83bn

    1H pre-tax profit up 3% to record $6.83bn (S$m) 1H25 1H24 YoY % Commercial book total income 10,856 10,606 2 Net interest income 7,344 7,416 (1) Net fee and commission income 2,442 2,091 17 Treasury customer sales and other income 1,070 1,099 (3) Markets trading income 781 433 80 Net interest income

  24. Slide 24: 1H Hong Kong net profit up 11%

    1H Hong Kong net profit up 11% Constant-currency terms (S$m) 1H25 1H24 YoY % YoY % Total income 1,780 1,679 6 8 Net interest income 1,007 1,034 (3) (1) Net fee and commission income 505 411 23 25 Other non-interest income 268 234 15 17 Expenses 636 626 2 4 Profit before allowances 1,144 1,053 9 11 A

  25. Slide 25: NPL ratio at 1.0%, allowance coverage above 100%

    NPL ratio at 1.0%, allowance coverage above 100% 1.1 1.0 1.1 1.1 1.0 NPL ratio (%) NPA (S$m) 5,077 4,680 5,036 4,861 4,686 34% 31% 27% 24% Not overdue 35% 9% 11% Within 90 days overdue 8% 7% 11% More than 90 days overdue 57% 59% 58% 64% 65% Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 SP / loans (bp) 8 14 20

  26. Slide 26: Fixed income duration remains short

    Fixed income duration remains short ($m) Jun 25 FVOCI HTC Government securities 28,407 44,229 Less than 3 years 22,292 31,014 3 to 5 years 2,895 5,098 5 to 10 years 2,949 7,624 More than 10 years 271 493 Supranational, bank and corporate bonds 21,486 47,800 Total 49,893 92,029 Time-banding is based

  27. Slide 27: Deposits up 5% over first half, 7% YoY in constant-currency terms

    Deposits up 5% over first half, 7% YoY in constant-currency terms (S$bn) HoH (%) YoY (%) Jun 25 Reported Underlying Reported Underlying Deposits 574 2 5 4 7 By product Casa 301 3 6 8 10 Fixed deposits and others 273 1 5 0 5 By currency Singapore dollar 216 5 5 10 10 US dollar 220 (2) 5 0 7 HK dollar

  28. Slide 28: 1H GTS income down 10%

    1H GTS income down 10% Total income 2,402 (S$m) 1,204 1,170 2,164 1,144 1,105 1,059 Cash / SFS Trade 1H24 1H25 2Q24 3Q24 4Q24 1Q25 2Q25 (S$bn) Trade assets 47 44 47 46 48 46 44 Deposits 192 192 192 190 192 195 192 28

  29. Slide 29: Record first-half income and pre-tax profit

    Record first-half income and pre-tax profit DBS Group Holdings 2Q 2025 financial results August 7, 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

DBS Group Holdings — Q2 2025 Earnings Presentation on 6ix