DBS’s Q2 2026 profit climbs 9% driven by higher fee income

The bank said fee income remained close to record levels.

DBS Group reported a record second-quarter (Q2 2026) net profit of $2.4b (S$3.1b), up 9% year-on-year (YoY), as growth in fee income and treasury customer sales offset the impact of lower interest rates.

Earnings per share (EPS) during the quarter stood at $3.4 (S$4.4). Total income for Q2 2026 rose 6% YoY to a record $4.8b (S$6.1b).

Net interest income edged lower due to declining interest rates, although the impact was largely offset by strong loan and deposit growth and hedging activities.

The bank said fee income remained close to record levels, supported by continued momentum in wealth management.

Treasury customer sales reached a record high, whilst markets trading income also increased.

Assets under management in its Wealth segment exceeded $390b (S$500b) for the first time. The group's cost-income ratio was 39%.

For the six months to June (H1 2026), DBS posted record total income of $9.4b (S$12b), up 3% from a year earlier, whilst net profit rose 5% to $4.7b (S$6.0b).

EPS for H1 2026 was $3.3 (S$4.3). Return on equity was 17.5% and return on tangible equity was 19.2%, with the cost-income ratio unchanged at 39%.

CEO Tan Su Shan said lower interest rates during the first half were partly offset by hedging and balance sheet growth, whilst wealth management, institutional banking and markets trading supported earnings.

(US$1.00 = S$1.28)

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