In brief
DBS Group Holdings announced its third‑quarter net profit slumped 5 percent year‑on‑year to S$2.81 billion, driven by lower market trading revenues. However, the bank’s nine‑month earnings rose 2 percent to a record S$8.82 billion, buoyed by solid fee income and wealth‑management gains. CEO Tan Su Shan highlighted global macro‑economic uncertainty but expressed confidence in future resilience.
DBS Group Holdings said on Thursday that its third‑quarter net profit fell 5 percent year‑on‑year to S$2.81 billion (about US$2.2 billion) as lower market trading income hit earnings in a weak equity market environment. The bank sits at the centre of Singapore’s economy and the statement was made during a press briefing on November 5, 2026.
In the July‑September quarter, DBS’s total income fell 1 percent from a year earlier, while its nine‑month period through September saw net profit rise 2 percent from S$8.70 billion to a record S$8.82 billion, credited to double‑digit growth in fee income and treasury customer sales driven by wealth‑management activities. Total income for the first nine months rose 2 percent to a new high of S$17.9 billion.
According to a statement from DBS, the decline was largely due to weaker trading gains amid adverse equity markets, but the bank’s income streams from fees and managed accounts offset the hit. The confidence measure was reiterated by CEO Tan Su Shan, who said earlier that “the global economy has remained resilient, although the outlook has become more uncertain amid elevated energy prices, tighter financial conditions and geopolitical risks.”
In a separate remark, Tan added,
“As we enter 2027, we will stay nimble to capture opportunities while prudently managing risks. A more supportive interest‑rate environment and continued structural growth opportunities would benefit earnings, while our strong capital and liquidity positions and healthy general allowance buffers provide resilience against macroeconomic uncertainty.”
The figures are confirmed by Xinhua and Business Times, while a Reuters source was cited but could not be verified due to an inaccessible link, leaving that claim unconfirmed.