Slides
Page 1
XDBS Live more , Bank less CEO observations DBS Group Holdings 2Q 2026 financial results August 6 , 2026
Page 2
Record quarter, bringing first half to new high 2 Record 2Q total income and net profit Strong customer franchise growth o Record wealth management income; Wealth AUM >$500 billion o IBG non-interest income up double digits; record transaction service fees and treasury customer sales Highest markets trading income since 2021 Stabilised net interest income o Group NII resilient as balance sheet growth more than offset lower NIM o Continued to benefit from proactive hedging Leading on multiple fronts o First Singapore-headquartered bank to complete a synthetic securitisation transaction o Market-first tokenised physical gold offering o First Singapore bank appointed as an RMB clearing bank
Page 3
Winning across Asia’s growth engines Asia’s structural shifts Wealth Global wealth shifting to Asia Capital markets Deepening Asia capital markets Greater funding, investing and risk management needs Trade & investments Cross-border corridors reshaping Technology AI & tokenisation transforming industries A differentiated franchise built over many years • Safe, neutral, trusted Asian platform • Capturing structural growth in Taiwan and India • Well-entrenched wealth continuum; pathway to >S$1tn overall AUM • Leading IBG product franchises and sector expertise across trade, payments, treasury customer products, FIG and TMT • One Bank model connecting businesses and wealth across markets • Technology and AI embedded across the operating model • End-to-end digital asset ecosystem 3
Page 4
These forward-looking statements are subject to beliefs, assumptions and expectations of DBS’ management. No guarantees of actual performance are made, and no undue reliance should be placed given that there are significant risks and uncertainties. Refer to the full disclaimer in the Press Statement for the quarter ended. 2026 outlook 4 Full-year guidance raised, record 1H performance provides good foundation for the year and demonstrates ability to stay resilient and capture opportunities Total income to exceed 2025 levels Group net interest income to close the gap to 2025 levels o Rates assumed to remain at current levels o Deposit growth to be in high single-digit range o Continue to capture hedging opportunities Commercial book non-interest income growth raised to mid-teens, led by wealth management Maintain cost discipline, cost-income ratio to be in low-40% range SP assumed to be within 17-20bp in 2H; GP reserves provide ample buffer against risk
Page 5
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 whatsoever with respect to the use of this document or its contents. DBS Group Holdings 2Q 2026 financial results August 6, 2026 CEO observations
Page 6
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 whatsoever with respect to the use of this document or its contents. DBS Group Holdings 2Q 2026 financial results August 6, 2026 Record first-half income and earnings
Page 7
Highlights 2 2Q net profit up 9% YoY to record $3.08b, ROE at 17.9% and ROTE at 19.6% ▪ Total income crosses $6b for first time, reflecting structural customer franchise growth o Wealth management momentum maintained; fee income near record levels and treasury customer sales at new high o Balance sheet growth and hedging mitigate rate headwinds o Markets trading income strengthened 1H net profit up 5% to record $6.01b ▪ Total income rises 3% to new high of $12.0b as record fee income and treasury customer sales more than offset lower NII Balance sheet remains strong ▪ Asset quality resilient. NPA little changed QoQ as new NPA formation offset by repayments and write-offs ▪ NPL ratio stable at 1.0%. SP at 16bp for 2Q and 15bp for 1H ▪ Allowance coverage at 130% and 196% after considering collateral ▪ Transitional CET1 ratio at 16.6%, fully phased-in at 14.6% 2Q total dividend of 81¢ per share, comprising 66¢ ordinary dividend and 15¢ Capital Return dividend
Page 8
33 negative positiveImpact on earnings: 2,824 3,079 2Q25 net profit 142 Net interest income 293 Fee income 159 51 Markets trading income 77 Expenses 58 GP 38 SP 49 Tax and others 2Q26 net profit -4% +25% +12%+30% +3% 2Q income and net profit reach new highs Treasury customer sales & other income Commercial book ▪ Group net interest income declines 2%, balance sheet growth and hedging mitigate rate headwinds ▪ Strong fee income growth and record treasury customer sales led by wealth management ▪ Markets trading income rises 12% ▪ Expenses up 3%, cost-income ratio at 39% Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) record record 2Q26 5,624 YoY % 6 469 12 6,093 6 3,581 (2) 2,347 3 3,746 8 113 (15) 3,079 9 record
Page 9
44 negative positiveImpact on earnings: 2,930 3,079 1Q26 net profit 8 Net interest income 22 Fee income 79 80 Markets trading income 45 Expenses 108 GP 31 SP 28 Tax and others 2Q26 net profit flat -1% +21%+13% +2% 2Q net profit rises 5% QoQ Treasury customer sales & other income Commercial book ▪ Group net interest income rises 2% as balance sheet growth more than offset NIM decline of 2bp ▪ Fee income near previous quarter’s record; treasury customer sales at new high ▪ Markets trading income rises 21% ▪ SP at 16bp, GP write-back of $75m Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) record record 2Q26 5,624 QoQ % 1 469 21 6,093 2 3,581 2 2,347 2 3,746 3 113 (41) 3,079 5 record
Page 10
55 negative positiveImpact on earnings: 5,721 6,009 1H25 Net profit 386 Net interest income 500 Fee income 213 77 Markets trading income 165 Expenses 230 GP 75 SP 106 Tax and others 1H26 Net profit -5% +20% +10%+20% +4% 1H net profit up 5% to new high Treasury customer sales & other income Commercial book ▪ Group net interest income declines 3%, impact of lower rates cushioned by hedging and balance sheet growth ▪ Record fee income and treasury customer sales ▪ Markets trading income up 10% ▪ Cost-income ratio stable at 39% Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) record record 1H26 YoY % 11,183 3 858 10 4,649 4 7,392 3 303 (34) 6,009 5 record 12,041 3 7,075 (3)
Page 11
6 NIM (%) 2.05 1.96 1.93 1.89 1.87 2.55 2.40 2.34 2.29 2.21 3,625 3,558 3,592 3,475 3,483 23 2Q25 20 3Q25 1 4Q25 19 1Q26 98 2Q26 3,648 3,578 3,593 3,494 3,581 NII (S$m) Group Commercial book 2Q group net interest income up 2% QoQ as balance sheet growth more than offset NIM decline 7,344 6,958 -15 1H25 117 1H26 7,329 7,075 2.08 1.88 2.61 2.25 Commercial book Markets trading Avg rates (%) Sora Sofr 2.05 1.45 1.19 1.07 4.32 4.33 3.99 3.66 1.08 3.62 1.08 3.64 2.29 4.33
Page 12
77 211 136 291 As at Jun 26 638 Deposits up 1% QoQ, 4% over 1H In constant-FX terms ▪ 2Q deposits up 1% QoQ; growth in SGD Casa and FD partly offset by FCY Casa outflow ▪ Deposits grow 4% over 1H from both Casa and FD inflows (S$b) SGD Casa FCY Casa FD and others +13 +0 +13 1H26 +26 Constant-FX change -2 +9 +3 +8 1Q26 +5 +4 2Q26 +19 +7
Page 13
Loans up 3% QoQ, 5% over 1H 88 Constant-FX change 277 52 140 As at Jun 26 475 Gross loans (S$b) IBG trade IBG non-trade CBG / WM Others +17 +1 +5 1H26 +24 +5 +0 +3 1Q26 +11 +1 +2 2Q26 +8 +15 In constant-FX terms ▪ 2Q loans up 3% QoQ and 5% YTD led by non-trade corporate loans
Page 14
99 Gross fee income (S$m) 649 796 645 907 919 302 303 323 305 305228 248 227 257 256 185 183 138 209 179 31 2Q25 51 3Q25 48 4Q25 30 1Q26 40 2Q26 1,395 1,581 1,381 1,708 1,699 1H fee income rises to record led by wealth management YoY (%) Total Wealth management 10 20 12 25 31 24 1,373 1,826 599 610467 513412 388 47 1H25 70 1H26 2,898 3,407 14 18 30 33 Wealth management Investment banking Loan-related Cards Transaction services 14 22 25 42
Page 15
1010 (S$m) 1H customer-driven non-interest income up 20% from record fee income and treasury customer sales 1,167 1,357 1,099 1,482 1,460 511 581 485 592 678 2Q25 3Q25 4Q25 1Q26 2Q26 1,678 1,938 1,584 2,074 2,138 2,442 2,942 1,076 1,270 1H25 1H26 3,518 4,212 Treasury customer sales Net fee income
Page 16
11 1H Wealth segment income at record (S$m) 753 939 731 1,030 1,119 600 597 572 557 593 2Q25 3Q25 4Q25 1Q26 2Q26 1,353 1,536 1,303 1,587 1,712 474 7 AUM (S$b) NNM (S$b) 488 12 YoY (%) Total Non-interest income 442 11 5 13 5 19 32 22 1,617 2,149 1,224 1,149 1H25 1H26 2,841 3,299 8 16 26 33 516 21 442 20 Net interest income Non-interest income 5 16 Change (%) QoQ YoY 7 26 19 49 492 516 10 11 Wealth segment comprises Treasures, Treasures Private Client and Private Bank
Page 17
1H expenses up 4%, cost-income ratio stable at 39% 12 Cost-income ratio (%) Other expenses (S$m) 1,457 1,541 1,382 1,522 1,543 813 852 990 780 804 2Q25 3Q25 4Q25 1Q26 2Q26 2,270 2,393 2,372 2,302 2,347 40 40 44 39 39 2,909 3,065 1,575 1,584 1H25 1H26 4,484 4,649 39 39 Staff expenses
Page 18
1H CBG / WM income up 5% 13 ▪ Total income up 5% to $5.52b led by strong growth in investment product sales and bancassurance ▪ Wealth segment AUM crosses half-trillion mark (S$m) Total income 1H26 1H25 YoY % 5,523 5,284 5 Loans and deposits 2,605 2,955 (12) Investment products 2,409 1,846 30 Cards 499 455 10 Others 10 28 (64) Expenses 2,687 2,658 1 Profit before allowances 2,836 2,626 8 Wealth segment AUM (S$b) 516 442 17 SGD savings deposits (S$b) 164 141 17
Page 19
14 1H IBG income up 1% ▪ Total income up 1% to $4.54b as higher treasury customer income, transaction service fees, and investment banking fees more than offset impact of lower rates (S$m) 1H26 1H25 YoY % Total income 4,538 4,506 1 Loans 1,756 1,757 (0) Trade 326 315 4 Cash / SFS 1,772 1,848 (4) Treasury and investment banking 685 586 17 Expenses 1,438 1,421 1 Profit before allowances 3,100 3,085 0 Assets (S$b) 365 337 8 GTS deposits (S$b) 223 192 16
Page 20
15 1H treasury customer income up 27% to record, Markets trading income 10% higher 781 858 1,345 1,705 1H25 1H26 2,126 2,562 418 439 154 389 469 653 831 666 781 924 2Q25 3Q25 4Q25 1Q26 2Q26 1,072 1,271 819 1,170 1,392 Treasury customer income (S$m) YoY (%) Treasury customer income from CBG and IBG mainly comprises fee income and other non -interest income, and includes Equity Capital Markets, DBS Vickers and DBS Digital Exchange. Markets trading income Treasury customer income Markets trading income 14 27 80 10 16 40 22 13 124 33 (3) 7 41 12
Page 21
1616 negative positiveImpact on earnings: 871 1,027 1H25 Net profit 36 Net interest income 136 Fee income 13 15 Markets trading income 5 Expenses 54 GP 32 SP 31 Tax and others 1H26 Net profit +7% +32% -21%+12% +4% 1H Hong Kong net profit up 23% to record Treasury customer sales & other income Commercial book Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) 1H26 YoY % 1,902 11 48 (24) 641 1 1,309 14 84 (21) 1,027 18 record 1,950 10 1,126 12 ▪ Net interest income rises 16% driven by higher NIM and strong deposit growth ▪ Record fee income and higher treasury customer sales led by wealth management ▪ Total allowances decline 20%, lower GP due to repayments from weaker credits Constant-FX YoY% 15 (21) 14 4 19 (20) 23 16 record record record Constant-FX YoY %:
Page 22
NPA little changed QoQ, NPL ratio stable at 1.0% 17 (S$m) 1H25 1H26 2Q25 3Q25 NPAs at start of period 5,036 4,843 4,861 4,686 IBG and others (243) (158) (97) (84) New NPAs 345 278 244 113 Upgrades, settlements and recoveries (391) (241) (213) (141) Write-offs (197) (195) (128) (56) CBG / WM 37 78 18 8 Translation (144) 1 (96) 17 NPAs at end of period 4,686 4,764 4,686 4,627 NPL ratio (%) 1.0 1.0 1.0 1.0 4Q25 4,627 248 751 (280) (223) 3 (35) 4,843 1.0 1Q26 4,843 (172) 127 (128) (171) 61 (12) 4,720 1.0 2Q26 4,720 14 155 (116) (25) 17 13 4,764 1.0
Page 23
1H SP at 15bp, 2Q at 16bp 18 (S$m) 1H25 1H26 2Q25 3Q25 IBG and others 58 118 72 71 Add charges for 262 171 100 120 New NPLs 93 119 29 31 Existing NPLs 169 52 71 89 Subtract charges for 204 53 28 49 Upgrades 120 1 1 0 Settlements 50 43 23 41 Recoveries 34 9 4 8 CBG / WM 209 218 92 96 SP charges for loans 267 336 164 167 Other credit exposures (7) 9 (15) 3 Total SP charges 260 345 149 170 SP / loans (bp) 12 15 15 15 4Q25 282 355 308 47 73 1 68 4 126 408 7 415 36 1Q26 43 73 51 22 30 1 23 6 112 155 2 157 14 2Q26 75 100 56 44 25 0 22 3 106 181 7 188 16
Page 24
GP reserves remain prudent 19 (S$m) 2,332 2,354 2,422 2,313 2,383 4,109 4,071 3,859 3,886 3,812 6,441 6,425 6,281 6,199 6,195 Jun 25 Sep 25 Dec 25 Mar 26 Jun 26 137 139 130 131 130 236 229 197 200 196 SP GP Total allowance reserves as % of: NPA Unsecured NPA
Page 25
Strong CET-1 and leverage ratios 20 17.0 16.9 17.0 16.9 16.6 0.9 0.9 0.9 0.6 0.6 0.3 18.2 17.8 17.9 17.5 17.2 Jun 25 Sep 25 Dec 25 Mar 26 Jun 26 RWA (S$b) 355 367 365 371 382 Leverage ratio (%) 6.5 6.2 6.2 5.9 5.8 Tier 2 Additional Tier 1 Common Equity Tier 1 (%) Fully phased-in Common Equity Tier 1 (%) 15.1 15.1 15.0 14.8 14.6
Page 26
21 2Q total dividend of 81¢ per share, comprising 66¢ ordinary dividend and 15¢ Capital Return dividend (S¢ per share) 54 60 66 54 54 60 66 60 60 66 2024 15 15 15 15 2025 15 15 2026 222 306 162 Ordinary Capital Return 1Q 2Q 3Q 4Q 75 75 75 81 81 81
Page 27
22 In summary Record 1H results with total income and net profit at new highs; Wealth segment AUM crosses half-trillion mark Strong performance reflects ability to capture structural growth in wealth management and institutional flows, proactive balance sheet management as well as robust trading performance Well placed to capture growth opportunities and deliver sustainable shareholder returns with strong balance sheet, sound asset quality and healthy capital position These forward-looking statements are subject to beliefs, assumptions and expectations of DBS’ management. No guarantees of actual performance are made, and no undue reliance should be placed given that there are significant risks and uncertainties. Refer to the full disclaimer in the Press Statement for the quarter ended.
Page 28
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 whatsoever with respect to the use of this document or its contents. Supplementary slides DBS Group Holdings 2Q 2026 financial results August 6, 2026
Page 29
1H net profit up 5% to record $6.01b 24 (S$m) 1H26 1H25 YoY % Commercial book total income 11,183 10,856 3 Net interest income 6,958 7,344 (5) Net fee and commission income 2,942 2,442 20 Treasury customer sales and other income 1,283 1,070 20 Markets trading income 858 781 10 Net interest income 117 (15) NM Non-interest income 741 796 (7) Total income 12,041 11,637 3 Expenses 4,649 4,484 4 Profit before allowances and amortisation 7,392 7,153 3 Amortisation of intangible assets 11 12 Allowances for credit and other losses 303 458 (34) SP 345 270 28 GP (42) 188 NM Share of profits/losses of associates and JVs 138 142 (3) Profit before tax 7,216 6,825 6 Net profit 6,009 5,721 5 (8)
Page 30
25 1H Hong Kong net profit up 23% in constant-FX terms (S$m) Total income 1H26 1H25 YoY % Constant-FX YoY % 1,950 1,780 10 14 Net interest income 1,126 1,007 12 16 Net fee and commission income 641 505 27 32 Other non-interest income 183 268 (32) (29) Expenses 641 636 1 4 Profit before allowances 1,309 1,144 14 19 Allowances 84 106 (21) (20) GP (7) 47 NM NM SP 91 59 54 59 Net profit 1,027 871 18 23 Net interest margin (%) Loan growth (%) 1.90 1.75 4 Deposit growth (%) 9
Page 31
NPL ratio (%) NPA (S$m) 26 NPL ratio stable at 1.0%, allowance coverage above 100% 1.0 1.0 1.0 1.0 1.0 65% 67% 56% 58% 59% 11% 10% 10% 24% 24% 35% 32% 31% Jun 25 9% Sep 25 9% Dec 25 Mar 26 Jun 26 4,686 4,627 4,843 4,720 4,764 SP / loans (bp) Total allowances as % of: NPA Unsecured NPA 15 15 16 137 139 130 236 229 196 36 14 130 131 197 200 More than 90 days overdue Within 90 days overdue Not overdue
Page 32
Fixed income duration remains short 27Time-banding is based on maturity date from reporting date ($m) Jun 26 FVOCI Amortised cost Government securities 38,147 51,753 Less than 3 years 32,784 39,718 3 to 5 years 3,088 6,031 5 to 10 years 1,954 5,516 More than 10 years 321 488 Supranational, bank and corporate bonds 27,071 63,920 Total 65,218 115,673
Page 33
Deposits up 4% over 1H, 11% YoY in constant-FX terms 28 (S$b) HoH (%) YoY (%) Jun 26 Reported Constant-FX Reported Constant-FX Deposits 638 5 4 11 11 By product Casa 347 4 4 15 15 Fixed deposits and others 291 5 4 7 6 By currency Singapore dollar 244 6 6 13 13 US dollar 244 1 0 11 9 HK dollar 34 4 4 (4) (5) Taiwan dollar 27 22 22 20 28 Chinese yuan 31 11 7 36 27 Others 59 6 8 2 5
Page 34
29 1H GTS income declines 3% 1H25 1H26 2,164 2,098 2Q25 3Q25 4Q25 1Q26 2Q26 1,059 1,069 1,069 1,034 1,064 192 208 216 44 47 54 (S$m) (S$b) Cash / SFS Trade Trade assets Deposits 192 223 44 55 222 223 54 55
Page 35
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 whatsoever with respect to the use of this document or its contents. DBS Group Holdings 2Q 2026 financial results August 6, 2026 Record first-half income and earnings