DBS Group Holdings Ltd (DBSDY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to DBS's financial results briefing. This morning we announced first quarter net profit of $2.93 billion as total income reached a new high. As per our norm, our CEO Tan Tushan and CFO Cheung Sok Fee will share more about the quarter. Both will be speaking to slides which you can see on your screens. The slides can also be found on our investor relations website. And thereafter we will take questions. So without further ado, Sogdi, please. Hi, good morning, everyone. Let me start with slide two, the key highlights. We delivered a strong set of results for the first quarter. Net profit rose 1% year-on-year as total income reached a new high. While return on equity was 17%, return on tangible equity was 18.7%. Total income grew 1% from a year ago to a record $5.95 billion. While we continue to face lower rates and a stronger SING dollar, our strong deposit growth and hedging mitigated the headwinds. Meanwhile, robust wealth management performance drove free income and treasury customer sales to new highs, and market trading income strengthened from lower funding costs and improved trading editions. Compared to the previous quarter, net profit rose 24%, led by fee income, treasury customer sales and market trading income. Notably, group net interest income was little changed on a day-adjusted basis. Asset quality remained resilient. New MPA formation was at the low end of our quarterly range and was more than offset by repayments and write-offs. MPL ratio was stable at 1.0%, and specific allowance at 14 basis points of loans was below our guided range. Capital remained strong. The CET1 ratio was 16.9% on a transitional basis and 14.8% on a fully phased-in basis. The Board declared a total dividend of $0.81 per share for the first quarter, compri...