DBS Group Holdings Ltd (DBSDY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to DBS's third quarter financial results briefing. This morning, we announced that quarter profit before tax up 1% to a record $3.48 billion and ROE of 17.1%. Nine-month total income and profit before tax reached new highs. As per our norm, our CEO Tan Su Shan and CFO Cheng Sok Hui will start by sharing more about the quarter. Both will be speaking to slides, which you will see on screen. The slide can also be found on our investor relations website. And thereafter, we will take media questions. So without further ado, tell me. Thanks, Agnes. And good morning, everyone. I'll start with slide 2. We delivered a strong set of results in the third quarter. Pre-tax profit rose 1% year-on-year to a record $3.48 billion, with ROE at 17.1% and ROTE at 18.9%. Total income grew 3% to a new high of $5.93 billion. Group net interest income was little changed as strong deposit growth and proactive balance sheet hedging mitigated the impact of lower rates. Fee income and treasury customer sales reached new highs led by wealth management, while markets trading income increased on lower funding costs and a more conducive trading environment. For the nine months, pre-tax profit rose 3% to a record $10.3 billion as total income increased 5% to $17.6 billion from growth across both the commercial book and market trading. Net profit was 1% lower at $8.68 billion due to minimum tax of 15% that has come into effect. As the quality remained resilient, the NPL ratio was stable at 1.0%, while specific allowances were 15 basis points of loans for the quarter and 13 basis points for the 9 months. Allowance coverage was 139% and 229% after considering collateral. capital remained strong. The CET1 ratio was 16.9% on a transitional basis and 15.1% on a fully ph...