Interim report
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DBS Group Holdings Ltd 12 Marina Boulevard DBS Asia Central @ Marina Bay Financial Centre Tower 3 Singapore 018982 Tel: 65.6878 8888 www.dbs.com Co. Reg. No. 199901152M To: Shareholders The Board of Directors of DBS Group Holdings Ltd (“DBSH” or “the Company”) reports the following: Unaudited Financial Results for the First Half/ Second Quarter Ended 30 June 2026 Details of the financial results are in the accompanying performance summary. Dividends The Board has declared: (i) An interim one -tier tax -exempt dividend of 6 6 cents for each DBSH ordinary share for the second quarter of 2026 (the “2Q26 Interim Dividend”); and (ii) A one-tier tax-exempt capital return dividend of 15 cents for each DBSH ordinary share (“Capital Return Dividend”). The estimated dividend payable is $2,302 million. The DBSH Scrip Dividend Scheme will not be applied to the 2Q26 Interim Dividend and Capital Return Dividend. The DBSH ordinary shares will be quoted ex -dividend on 14 August 202 6 (Friday). The payment date for the 2Q2 6 Interim Dividend and Capital Return Dividend will be on or about 25 August 202 6 (Tuesday). The Transfer Books and Register of Members of DBSH will be closed from 5.00 p.m. on 1 7 August 2026 (Monday) up to (and including) 18 August 202 6 (Tuesday) for the purpose of determining shareholders’ entitlement to the 2Q26 Interim Dividend and Capital Return Dividend. By order of the Board Teoh Chia-Yin Group Secretary 6 August 2026 Singapore More information on the above announcement is available at www.dbs.com/investor
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Performance Summary Financial Results For the First Half/ Second Quarter ended 30 June 2026 (Unaudited) DBS Group Holdings Ltd Incorporated in the Republic of Singapore Company Registration Number: 199901152M
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 1 Contents Page Overview 2 Financial Review Net Interest Income 8 Net Fee and Commission Income 10 Other Non-Interest Income 10 Expenses 11 Allowances for Credit and Other Losses 11 Performance by Business Segments 12 Performance by Geography 15 Customer Loans 18 Non-Performing Assets and Loss Allowance Coverage 19 Customer Deposits 22 Debts Issued 23 Capital Adequacy 24 Unrealised Property Valuation Surplus 24 Financial Statements Unaudited Consolidated Income Statement 25 Unaudited Consolidated Statement of Comprehensive Income 26 Unaudited Balance Sheets 27 Unaudited Consolidated Statement of Changes in Equity 28 Unaudited Statement of Changes in Equity 29 Unaudited Consolidated Cash Flow Statement 30 Other Financial Information 31 Additional Information Share Capital 32 Interested Party Transactions Pursuant to Listing Rule 920(1) 32 Confirmation of Directors and Executive Officers’ Undertakings Pursuant to Listing Rule 720(1) 32 Confirmation by the Board 33
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 2 OVERVIEW DBS Group Holdings Ltd (“DBSH”) prepares its consolidated DBSH Group (“Group”) financial statements in accordance with Singapore Financial Reporting Standards (International) (SFRS(I)). The unaudited condensed interim financial information has been prepared in accordance with SFRS(I) 1-34 Interim Financial Reporting and does not include all the information required for a complete set of financial statements. The interim financial information is to be read in conjunction with the financial statements as at and for the year ended 31 December 2025. The accounting policies and methods of computation applied for the current financial periods are consistent with those applied for the financial year ended 31 December 2025. The amendments and interpretations effective from 1 January 2026 do not have a significant impact on the Group’s financial statements.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 3 1st Half 2026 1st Half 2025 % chg 2nd Half 2025 % chg Selected income statement items ($m) Commercial book total income 11,183 10,856 3 10,670 5 Net interest income 6,958 7,344 (5) 7,150 (3) Net fee and commission income 2,942 2,442 20 2,456 20 Treasury customer sales and other income 1,283 1,070 20 1,064 21 Markets trading income 858 781 10 593 45 Net interest income 117 (15) NM 21 >100 Non-interest income 741 796 (7) 572 30 Total income 12,041 11,637 3 11,263 7 Of which: Net interest income 7,075 7,329 (3) 7,171 (1) Expenses 4,649 4,484 4 4,765 (2) Profit before allowances and amortisation 7,392 7,153 3 6,498 14 Amortisation of intangible assets 11 12 (8) 11 - Allowances for credit and other losses 303 458 (34) 333 (9) ECL Stage 3 (SP) 345 270 28 584 (41) ECL Stage 1 and 2 (GP) (42) 188 NM (251) 83 Share of profits/losses of associates and JVs 138 142 (3) 120 15 Profit before tax 7,216 6,825 6 6,274 15 Net profit 6,009 5,721 5 5,312 13 Provision for CSR1 - - - (100) NM Reported net profit 6,009 5,721 5 5,212 15 Selected balance sheet items ($m) Customer loans 469,380 433,046 8 445,011 5 Constant-currency change 8 5 Total assets 965,597 841,896 15 897,488 8 of which: Non-performing assets 4,764 4,686 2 4,843 (2) Customer deposits 638,203 573,965 11 610,023 5 Constant-currency change 11 4 Total liabilities 895,380 773,286 16 828,572 8 Shareholders’ funds 70,166 68,564 2 68,867 2 Key financial ratios (%)2,3 Net interest margin – Group 1.88 2.08 1.94 Net interest margin – Commercial Book 2.25 2.61 2.37 Cost/ income ratio 38.6 38.5 42.3 Return on assets 1.31 1.38 1.21 Return on equity4,5 17.5 17.0 15.3 Return on tangible equity4,5,6 19.2 18.8 16.9 NPL ratio 1.0 1.0 1.0 Total allowances/ NPA 130 137 130 Total allowances/ unsecured NPA 196 236 197 SP for loans/ average loans (bp) 15 12 26 Common Equity Tier 1 (CET-1) ratio 16.6 17.0 17.0 Fully phased-in CET-1 ratio7 14.6 15.1 15.0
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 4 1st Half 2026 1st Half 2025 2nd Half 2025 Per share data ($)3 Earnings2 Basic 4.27 4.04 3.71 Diluted8 4.25 4.04 3.69 Reported earnings Basic 4.27 4.04 3.67 Diluted8 4.25 4.04 3.66 Net book value5 24.69 23.82 24.29 USD/SGD exchange rate was 1.2948 as of 30 Jun 2026 (30 Jun 2025: 1.2746; 31 Dec 2025: 1.2840) Notes: 1 Refers to Corporate Social Responsibility (CSR) commitment to DBS Foundation and other charitable causes 2 Excludes impact arising from Provision for CSR 3 Return on assets, return on equity, return on tangible equity, ECL Stage 3 (SP) for loans/average loans and per share data are computed on an annualised basis 4 Calculated based on net profit attributable to the shareholders net of dividends on other equity instruments 5 Non-controlling interests and other equity instruments are not included as equity in the computation 6 Tangible equity represents ordinary shareholders’ equity less goodwill and intangible assets (net of related deferred tax) 7 Calculated based on the Basel III reforms output floor at 72.5% when fully phased in on 1 January 2029 8 Adjusted for potential ordinary shares issuable under share-based compensation plan NM Not Meaningful
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 5 2nd Qtr 2026 2nd Qtr 2025 % chg 1st Qtr 2026 % chg Selected income statement items ($m) Commercial book total income 5,624 5,314 6 5,559 1 Net interest income 3,483 3,625 (4) 3,475 0 Net fee and commission income 1,460 1,167 25 1,482 (1) Treasury customer sales and other income 681 522 30 602 13 Markets trading income 469 418 12 389 21 Net interest income 98 23 >100 19 >100 Non-interest income 371 395 (6) 370 0 Total income 6,093 5,732 6 5,948 2 Of which: Net interest income 3,581 3,648 (2) 3,494 2 Expenses 2,347 2,270 3 2,302 2 Profit before allowances and amortisation 3,746 3,462 8 3,646 3 Amortisation of intangible assets 5 6 (17) 6 (17) Allowances for credit and other losses 113 133 (15) 190 (41) ECL Stage 3 (SP) 188 150 25 157 20 ECL Stage 1 and 2 (GP) (75) (17) (>100) 33 NM Share of profits/losses of associates and JVs 76 65 17 62 23 Profit before tax 3,704 3,388 9 3,512 5 Net profit 3,079 2,824 9 2,930 5 Provision for CSR1 - - - - - Reported net profit 3,079 2,824 9 2,930 5 Selected balance sheet items ($m) Customer loans 469,380 433,046 8 453,180 4 Constant-currency change 8 3 Total assets 965,597 841,896 15 935,365 3 of which: Non-performing assets 4,764 4,686 2 4,720 1 Customer deposits 638,203 573,965 11 629,868 1 Constant-currency change 11 1 Total liabilities 895,380 773,286 16 866,004 3 Shareholders’ funds 70,166 68,564 2 69,311 1 Key financial ratios (%)2,3 Net interest margin – Group 1.87 2.05 1.89 Net interest margin – Commercial Book 2.21 2.55 2.29 Cost/ income ratio 38.5 39.6 38.7 Return on assets 1.31 1.35 1.31 Return on equity4,5 17.9 16.7 17.0 Return on tangible equity4,5,6 19.6 18.5 18.7 NPL ratio 1.0 1.0 1.0 Total allowances/ NPA 130 137 131 Total allowances/ unsecured NPA 196 236 200 SP for loans/ average loans (bp) 16 15 14 Common Equity Tier 1 (CET-1) ratio 16.6 17.0 16.9 Fully phased-in CET-1 ratio7 14.6 15.1 14.8
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 6 2nd Qtr 2026 2nd Qtr 2025 1st Qtr 2026 Per share data ($)3 Earnings2 Basic 4.35 3.98 4.19 Diluted8 4.33 3.98 4.17 Reported earnings Basic 4.35 3.98 4.19 Diluted8 4.33 3.98 4.17 Net book value5 24.69 23.82 24.38 USD/SGD exchange rate was 1.2948 as of 30 Jun 2026 (30 Jun 2025: 1.2746; 31 Mar 2026: 1.2904) Notes: 1 Refers to Corporate Social Responsibility (CSR) commitment to DBS Foundation and other charitable causes 2 Excludes impact arising from Provision for CSR 3 Return on assets, return on equity, return on tangible equity, ECL Stage 3 (SP) for loans/average loans and per share data are computed on an annualised basis 4 Calculated based on net profit attributable to the shareholders net of dividends on other equity instruments 5 Non-controlling interests and other equity instruments are not included as equity in the computation 6 Tangible equity represents ordinary shareholders’ equity less goodwill and intangible assets (net of related deferred tax) 7 Calculated based on the Basel III reforms output floor at 72.5% when fully phased in on 1 January 2029 8 Adjusted for potential ordinary shares issuable under share-based compensation plan NM Not Meaningful
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 7 First Half First-half net profit rose 5% to a record $6.01 billion despite a challenging rate environment. Total income increased 3% to a new high of $12.0 billion. The impact of lower interest rates was partially offset by proactive hedging as well as strong loan and deposit growth. Fee income and treasury customer sales reached record levels, led by wealth management, while markets trading income rose to its highest level in five years. The cost-income ratio was 39%. Asset quality remained resilient, with specific allowances at 15 basis points of loans. Return on equity was 17.5% and return on tangible equity was 19.2%. Group net interest income fell 3% to $7.08 billion as rate pressures were cushioned by hedging and balance sheet growth. Group net interest margin fell 20 basis points to 1.88%. Over the first half, loans rose 5% or $24 billion in constant-currency terms to $469 billion, led by growth in non-trade corporate lending. Deposits increased 4% or $26 billion in constant-currency terms to $638 billion, with more than half of the increase from Casa. Net fee income rose 20% to a record $2.94 billion. The increase was led by wealth management fees, which rose 33% to a new high of $1.83 billion on higher investment product and bancassurance sales. Assets under management in the Wealth segment surpassed $500 billion for the first time. Transaction services fees also reached a record level, while card and investment banking fees were higher. These increases more than offset lower loan-related fees. Commercial book other non-interest income increased 20% to a record $1.28 billion, driven by double-digit growth in treasury customer sales to both wealth management and corporate customers. Markets trading income increased 10% to $858 million, benefiting from volatile markets and lower funding costs. Expenses rose 4% to $4.65 billion, while the cost-income ratio was stable at 39%. Profit before allowances increased 3% to a record $7.39 billion. Second Quarter Second-quarter net profit rose 9% from a year ago to a record $3.08 billion, with return on equity at 17.9% and return on tangible equity at 19.6%. Total income increased 6%, crossing $6 billion for the first time. Group net interest income fell slightly due to lower interest rates, with hedging and balance sheet growth mitigating most of the impact. Fee income remained near record levels, treasury customer sales reached a new high, while markets trading income was also higher. The cost-income ratio was 39%. Compared to the previous quarter, total income increased 2% and net profit rose 5%. Group net interest income declined 2% from a year ago to $3.58 billion, with the impact of lower interest rates mitigated by hedging and balance sheet growth. Group net interest margin fell 18 basis points to 1.87%. Loans and deposits grew 8% and 11% respectively in constant- currency terms. Compared to the previous quarter, group net interest income rose 2% as balance sheet growth more than offset a two-basis-point decline in net interest margin. Loans and deposits rose 3% and 1% respectively in constant-currency terms. Net fee income rose 25% from a year ago to $1.46 billion, led by a 42% increase in wealth management fees to $919 million. Compared to the record previous quarter, net fee income was 1% lower. Wealth management activity remained robust, with wealth fees reaching a new high. Investment banking fees were also higher. These increases largely offset lower loan-related fees. Commercial book other non-interest income increased 30% from a year ago to a record $681 million, driven by strong treasury customer sales to both wealth management and corporate customers. Compared to the previous quarter, it rose 13%. Markets trading income rose 12% from a year ago and 21% from the previous quarter to $469 million, led by equity derivative activities. Expenses rose 3% from a year ago and 2% from the previous quarter to $2.35 billion. The cost-income ratio was 39%. Profit before allowances rose 8% from a year ago and 3% from the previous quarter to a record $3.75 billion. Balance Sheet Asset quality remained resilient. The non-performing loan ratio was unchanged over the six months at 1.0%, as new non-performing asset formation was offset by repayments and write-offs. First-half specific allowances amounted to $345 million or 15 basis points of loans. General allowances of $42 million were written back. Total allowance reserves amounted to $6.20 billion, resulting in an allowance coverage of 130% and of 196% after considering collateral. Liquidity and capital remained healthy. The liquidity coverage ratio was 142% and the net stable funding ratio was 113%. The reported Common Equity Tier-1 ratio was 16.6% based on transitional arrangements, and the pro-forma ratio on a fully phased-in basis was 14.6%. The leverage ratio was 5.8%. All the ratios were comfortably above regulatory requirements.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 8 NET INTEREST INCOME In $m 1st Half 2026 1st Half 2025 2nd Half 2025 Net interest income (NII) 7,075 7,329 7,171 Less: Markets Trading 117 (15) 21 Commercial Book NII 6,958 7,344 7,150 Average interest-bearing assets (IBA) 758,758 709,263 733,326 Less: Markets Trading 135,628 141,953 134,248 Commercial Book average IBA 623,130 567,310 599,078 Net interest margin (%)1 1.88 2.08 1.94 Commercial Book NIM (%)1 2.25 2.61 2.37 1st Half 2026 1st Half 2025 2nd Half 2025 Average balance sheet Average balance ($m) Interest ($m) Average rate (%) Average balance ($m) Interest ($m) Average rate (%) Average balance ($m) Interest ($m) Average rate (%) Customer non-trade loans 403,400 7,360 3.68 390,459 8,393 4.33 393,124 7,782 3.93 Trade assets 48,195 1,055 4.42 41,615 1,044 5.06 44,480 1,059 4.72 Interbank assets2 81,203 1,003 2.49 94,167 1,483 3.18 85,759 1,181 2.73 Securities and others 225,960 3,923 3.50 183,022 3,621 3.99 209,963 3,705 3.50 Interest-bearing assets 758,758 13,341 3.55 709,263 14,541 4.13 733,326 13,727 3.71 Customer deposits 623,684 4,446 1.44 571,529 5,195 1.83 596,127 4,579 1.52 Other borrowings 104,048 1,820 3.53 100,610 2,017 4.04 103,686 1,977 3.78 Interest-bearing liabilities 727,732 6,266 1.74 672,139 7,212 2.16 699,813 6,556 1.86 Net interest income/margin1 7,075 1.88 7,329 2.08 7,171 1.94 Notes: 1 Net interest margin is net interest income expressed as a percentage of average interest-bearing assets. 2 Includes non-restricted balances with central banks First-half group net interest income fell 3% from a year ago to $7.08 billion as the impact of lower Sora and Hibor was partially offset by proactive hedging and strong loan and deposit growth. Group net interest margin declined 20 basis points to 1.88%, reflecting lower interest rates. Commercial book net interest income of $6.96 billion was 5% lower as net interest margin declined. Markets trading net interest income increased from a loss of $15 million a year ago to income of $117 million, supported by lower funding costs. Compared to the previous half-year, group net interest income was 1% lower as hedging and balance sheet growth offset much of the impact of a six-basis-point decline in net interest margin.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 9 1st Half 2026 vs 1st Half 2025 1st Half 2026 vs 2nd Half 2025 Volume and rate analysis ($m) Increase/(decrease) due to change in Volume Rate Net change Volume Rate Net change Interest and similar income Customer non-trade loans 236 (1,269) (1,033) 187 (483) (296) Trade assets 144 (133) 11 81 (68) 13 Interbank assets (160) (320) (480) (56) (102) (158) Securities and others 745 (443) 302 278 1 279 Total 965 (2,165) (1,200) 490 (652) (162) Interest expense Customer deposits 372 (1,121) (749) 196 (255) (59) Other borrowings 60 (257) (197) 6 (131) (125) Total 432 (1,378) (946) 202 (386) (184) Net impact on net interest income 533 (787) (254) 288 (266) 22 Due to change in number of days - (118) Net Interest Income (254) (96)
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 10 NET FEE AND COMMISSION INCOME ($m) 1st Half 2026 1st Half 2025 % chg 2nd Half 2025 % chg Investment banking 70 47 49 99 (29) Transaction services1 513 467 10 475 8 Loan-related 388 412 (6) 321 21 Cards2 610 599 2 626 (3) Wealth management 1,826 1,373 33 1,441 27 Fee and commission income 3,407 2,898 18 2,962 15 Less: Fee and commission expense 465 456 2 506 (8) Total 2,942 2,442 20 2,456 20 Notes: 1 Includes trade & remittances, guarantees and deposit-related fees 2 Net of interchange fees paid First-half net fee income rose 20% from a year ago to a record $2.94 billion. The increase was led by wealth management fees, which rose 33% to a new high of $1.83 billion, driven by higher investment product and bancassurance sales. Transaction service fees increased 10% to a record $513 million. Card fees and investment banking fees were also higher, rising 2% and 49% to $610 million and $70 million respectively. These gains more than offset lower loan-related fees. Compared to the previous half-year, net fee income increased 20%, led by strong growth in wealth management fees. OTHER NON-INTEREST INCOME ($m) 1st Half 2026 1st Half 2025 % chg 2nd Half 2025 % chg Net trading income 1,900 1,723 10 1,638 16 Customer sales 1,270 1,076 18 1,066 19 Non-customer sales 630 647 (3) 572 10 Net income from investment securities 101 123 (18) (23) NM Others (include rental income and gain on disposal of properties and fixed assets) 23 20 15 21 10 Total 2,024 1,866 8 1,636 24 Commercial book 1,283 1,070 20 1,064 21 Markets Trading 741 796 (7) 572 30 Total 2,024 1,866 8 1,636 24 First-half other non-interest income rose 8% from a year ago to $2.02 billion. Net trading income increased 10% to $1.90 billion, driven by record treasury customer sales, with double-digit growth in sales to both wealth management and corporate customers. Compared to the previous half-year, other non-interest income increased 24% from stronger treasury customer sales and markets trading performance.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 11 EXPENSES1 ($m) 1st Half 2026 1st Half 2025 % chg 2nd Half 2025 % chg Staff 3,065 2,909 5 2,923 5 Occupancy 205 214 (4) 245 (16) Computerisation 642 640 0 720 (11) Revenue-related 305 276 11 336 (9) Others 432 445 (3) 541 (20) Total 4,649 4,484 4 4,765 (2) Staff count2 at period-end 39,892 40,187 (1) 39,721 0 Included in the above table was: Depreciation of properties and other fixed assets 411 410 0 414 (1) Notes: 1 Excludes impact arising from Provision for CSR 2 Measured based on full-time equivalent First-half expenses increased 4% from a year ago to $4.65 billion, led by higher staff costs. Non-staff costs also rose from higher revenue-related expenses. Compared to the previous half-year, expenses declined 2% from lower non-staff costs. The cost-income ratio was 39%, stable from a year ago and three percentage points lower than the previous half- year. ALLOWANCES FOR CREDIT AND OTHER LOSSES ($m) 1st Half 2026 1st Half 2025 % chg 2nd Half 2025 % chg ECL Stage 1 and 2 (GP) (42) 188 NM (251) 83 ECL Stage 3 (SP) for loans1 336 267 26 575 (42) Singapore 112 (39) NM 197 (43) Hong Kong 85 60 42 267 (68) Rest of Greater China 69 46 50 59 17 South and Southeast Asia 59 62 (5) 57 4 Rest of the World 11 138 (92) (5) NM ECL Stage 3 (SP) for other credit exposures 9 (7) NM 10 (10) Total ECL Stage 3 (SP) 345 260 33 585 (41) Allowances for other assets - 10 (100) (1) NM Total 303 458 (34) 333 (9) Notes: 1 SP for loans by geography are determined according to the location where the borrower is incorporated NM Not Meaningful First-half specific allowances for loans of $336 million were higher than a year ago but, at 15 basis points of loans, remained below the historical cycle average. Compared to the previous half-year, they were 42% lower. General allowances of $42 million were written back in the first half, compared to a charge of $188 million a year ago and a writeback of $251 million in the previous half-year. Total allowances amounted to $303 million, 34% lower than a year ago and 9% below the previous half-year.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 12 PERFORMANCE BY BUSINESS SEGMENTS ($m) Commercial Book Markets Total Consumer Banking/ Wealth Management Institutional Banking Others Trading Selected income statement items1 1st Half 2026 Net interest income 2,781 3,045 1,132 117 7,075 Net fee and commission income 2,031 919 (8) - 2,942 Other non-interest income 711 574 (2) 741 2,024 Total income 5,523 4,538 1,122 858 12,041 Expenses 2,687 1,438 111 413 4,649 Amortisation of intangible assets - - 11 - 11 Allowances for credit and other losses 200 124 (20) (1) 303 Share of profits/losses of associates and JVs - 2 134 2 138 Profit before tax 2,636 2,978 1,154 448 7,216 2nd Half 2025 Net interest income 3,007 3,113 1,030 21 7,171 Net fee and commission income 1,644 823 (11) - 2,456 Other non-interest income 606 464 (6) 572 1,636 Total income 5,257 4,400 1,013 593 11,263 Expenses 2,842 1,527 (26) 422 4,765 Amortisation of intangible assets - - 11 - 11 Allowances for credit and other losses 270 239 (175) (1) 333 Share of profits/losses of associates and JVs - 7 110 3 120 Profit before tax 2,145 2,641 1,313 175 6,274 1st Half 2025 Net interest income 3,099 3,155 1,090 (15) 7,329 Net fee and commission income 1,602 852 (12) - 2,442 Other non-interest income 583 499 (12) 796 1,866 Total income 5,284 4,506 1,066 781 11,637 Expenses 2,658 1,421 17 388 4,484 Amortisation of intangible assets - - 12 - 12 Allowances for credit and other losses 229 2 227 - 458 Share of profits/losses of associates and JVs - 6 136 - 142 Profit before tax 2,397 3,089 946 393 6,825
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 13 ($m) Commercial Book Markets Consumer Banking/ Wealth Management Institutional Banking Others Trading Total Selected balance sheet and other Items2 30 Jun 2026 Total assets before goodwill and intangible assets 140,383 365,267 175,436 278,221 959,307 Goodwill and intangible assets 6,290 Total assets 965,597 Total liabilities 367,861 263,633 66,665 197,221 895,380 Capital expenditure for 1st Half 2026 61 11 596 11 679 Depreciation for 1st Half 2026 14 3 392 2 411 31 Dec 2025 Total assets before goodwill and intangible assets 135,866 347,241 164,475 243,592 891,174 Goodwill and intangible assets 6,314 Total assets 897,488 Total liabilities 357,077 250,252 66,120 155,123 828,572 Capital expenditure for 2nd Half 2025 104 25 157 18 304 Depreciation for 2nd Half 2025 22 3 386 3 414 30 Jun 2025 Total assets before goodwill and intangibles assets 133,617 337,405 133,768 230,709 835,499 Goodwill and intangible assets 6,397 Total assets 841,896 Total liabilities 334,453 227,373 62,732 148,728 773,286 Capital expenditure for 1st Half 2025 67 10 133 11 221 Depreciation for 1st Half 2025 12 4 392 2 410 Notes: 1 Excludes impact arising from Provision for CSR 2 Refer to sections on Customer Loans and Non-Performing Assets and Loss Allowance Coverage for more information on business segments The business segment results are prepared based on the Group’s internal management reporting, which reflects its management structure. As the activities of the Group are highly integrated, internal allocations have been made in preparing the segment information. Amounts for each business segment are shown after the allocation of certain centralised costs, funding income and the application of transfer pricing, where appropriate. Transactions between segments are recorded within the segment as if they are third party transactions and are eliminated on consolidation. The various business segments are described below: Consumer Banking/ Wealth Management Consumer Banking/ Wealth Management provides individual customers with a diverse range of banking and related financial services. The products and services available to customers include current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment and insurance products. First-half profit before tax was 10% higher than a year ago at $2.64 billion. Total income grew 5% to $5.52 billion. Net interest income declined 10% to $2.78 billion as the impact from a lower net interest margin was moderated by volume growth. Non-interest income grew 25% to $2.74 billion driven by higher wealth management fees and treasury customer sales. Expenses were 1% higher at $2.69 billion. Total allowances decreased 13% to $200 million. Compared to the previous half year, profit before tax rose 23%. Total income rose 5% while expenses declined 5%, resulting in a 17% increase in profit before allowances to $2.84 billion. Total allowances were 26% lower.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 14 Institutional Banking Institutional Banking provides financial services and products to institutional clients, including bank and non- bank financial institutions, government-linked companies, large corporates and small and medium-sized businesses. Products and services comprise the full range of credit facilities from short-term working capital financing to specialised lending. It also provides global transactional services such as cash management, trade finance and securities and fiduciary services; treasury and markets products; corporate finance and advisory banking as well as capital markets solutions. Compared to a year ago, first-half profit before tax declined 4% to $2.98 billion. Total income was 1% higher at $4.54 billion. Net interest income declined 3% to $3.05 billion due to a lower net interest margin, partially offset by volume growth. Non-interest income grew 11% to $1.49 billion from higher treasury customer income, cash management fees, and investment banking fees. Expenses were 1% higher at $1.44 billion. Total allowances rose to $124 million from a low base of $2 million a year ago. Compared to the previous half year, profit before tax grew 13%. Total income rose 3% as non-interest income growth more than offset lower net interest income. Expenses were 6% lower. Total allowances fell 48% from the prior period, which had higher specific allowances largely due to the prudent downgrade of a previously watchlisted real estate exposure to NPL. Markets Trading The Markets Trading segment reflects the structuring, market-making and trading activities carried out by Global Financial Markets (GFM) across a range of treasury asset classes. GFM is also involved in the sale of treasury products, investment banking services and digital asset activities. Such customer income is reflected in Consumer Banking/ Wealth Management and Institutional Banking, rather than in the Markets Trading segment. First-half profit before tax rose 14% from a year ago to $448 million. Total income increased 10% to $858 million led by higher income from equity derivatives, partially offset by interest rate activities. Expenses rose 6% to $413 million due to higher business-related expenses and staff costs. Compared to the previous half year, total income rose 45%. Expenses fell 2% due to lower staff costs. Income from treasury customer activities which has been fully incorporated into Consumer Banking/ Wealth Management and Institutional Banking income, rose 27% from a year ago to $1.70 billion mainly due to higher income from sales of equity derivatives and foreign exchange products. Compared to the previous half year, income from treasury customer activities rose 14% mainly from equity derivatives products and foreign exchange products. Others The Others segment encompasses the results of corporate decisions that are not attributed to business segments. It includes earnings on capital deployed into high quality assets, earnings from non-core asset sales and certain other head office items such as centrally raised allowances.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 15 PERFORMANCE BY GEOGRAPHY ($m) Singapore Hong Kong Rest of Greater China South and South-east Asia Rest of the World Total Selected income statement items1 1st Half 2026 Net interest income 4,414 1,126 616 575 344 7,075 Net fee and commission income 1,735 641 320 161 85 2,942 Other non-interest income 1,416 183 301 79 45 2,024 Total income 7,565 1,950 1,237 815 474 12,041 Expenses 2,830 641 645 449 84 4,649 Amortisation of intangible assets - - 11 - - 11 Allowances for credit and other losses 92 84 63 51 13 303 Share of profits/losses of associates and JVs 19 - 116 - 3 138 Profit before tax 4,662 1,225 634 315 380 7,216 Income tax expense and non- controlling interests 734 198 101 69 105 1,207 Net profit 3,928 1,027 533 246 275 6,009 2nd Half 2025 Net interest income 4,596 1,083 616 597 279 7,171 Net fee and commission income 1,501 488 249 148 70 2,456 Other non-interest income 1,133 173 207 56 67 1,636 Total income 7,230 1,744 1,072 801 416 11,263 Expenses 2,802 697 687 482 97 4,765 Amortisation of intangible assets - - 11 - - 11 Allowances for credit and other losses (35) 190 67 127 (16) 333 Share of profits/losses of associates and JVs 21 - 96 - 3 120 Profit before tax 4,484 857 403 192 338 6,274 Income tax expense and non- controlling interests 668 119 50 33 92 962 Net profit 3,816 738 353 159 246 5,312 1st Half 2025 Net interest income 4,875 1,007 566 602 279 7,329 Net fee and commission income 1,445 505 268 165 59 2,442 Other non-interest income 1,105 268 281 130 82 1,866 Total income 7,425 1,780 1,115 897 420 11,637 Expenses 2,639 636 652 474 83 4,484 Amortisation of intangible assets - - 12 - - 12 Allowances for credit and other losses 80 106 53 93 126 458 Share of profits/losses of associates and JVs 15 - 127 - - 142 Profit before tax 4,721 1,038 525 330 211 6,825 Income tax expense and non- controlling interests 697 167 87 76 77 1,104 Net profit 4,024 871 438 254 134 5,721
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 16 PERFORMANCE BY GEOGRAPHY ($m) Singapore Hong Kong Rest of Greater China South and South- east Asia Rest of the World Total Selected balance sheet items 30 Jun 2026 Total assets before goodwill and intangible assets 643,681 114,407 84,735 45,918 70,566 959,307 Goodwill and intangible assets 5,115 28 997 150 - 6,290 Total assets 648,796 114,435 85,732 46,068 70,566 965,597 Non-current assets2 4,625 1,207 1,432 190 - 7,454 Gross customer loans 284,836 64,049 51,254 27,428 47,671 475,238 31 Dec 2025 Total assets before goodwill and intangible assets 596,150 105,692 81,214 42,270 65,848 891,174 Goodwill and intangible assets 5,115 28 1,014 157 - 6,314 Total assets 601,265 105,720 82,228 42,427 65,848 897,488 Non-current assets2 4,667 746 1,344 217 2 6,976 Gross customer loans 271,652 62,919 48,029 25,560 42,756 450,916 30 Jun 2025 Total assets before goodwill and intangibles assets 552,635 101,545 76,035 41,419 63,865 835,499 Goodwill and intangible assets 5,115 28 1,091 163 - 6,397 Total assets 557,750 101,573 77,126 41,582 63,865 841,896 Non-current assets2 4,606 760 1,301 253 5 6,925 Gross customer loans 263,476 60,606 48,324 25,260 41,434 439,100 Note: 1 Excludes impact arising from Provision for CSR 2 Includes investments in associates and joint ventures, properties and other fixed assets The Group’s performance by geography includes net revenues and expenses from internal and external counterparties. The performance by geography is classified based on the location in which income and assets are recorded, while some items such as centrally-managed credit allowances and technology-related services are reflected in Singapore. Hong Kong comprises mainly DBS Bank (HK) Limited and DBS HK branch. Rest of Greater China comprises mainly DBS Bank (China) Ltd, DBS Bank (Taiwan) Ltd and DBS Taipei branch and DBS Securities (China) Co., Ltd. South and Southeast Asia comprises mainly PT Bank DBS Indonesia, DBS Bank India Ltd, DBS Labuan branch, DBS Vietnam branch and DBS Gift City branch. All results are prepared in accordance with Singapore Financial Reporting Standards (International). Singapore First-half net profit declined 2% from a year ago to $3.93 billion. Total income increased 2% to $7.57 billion. Net interest income fell 9% to $4.41 billion as the impact of lower interest rates was cushioned by hedging and balance sheet growth. Net fee income grew 20% to $1.74 billion led by wealth management. Other non-interest income rose 28% to $1.42 billion driven by stronger treasury customer sales and markets trading. Expenses increased 7% to $2.83 billion led by higher staff costs. Total allowances rose 15% to $92 million, as an increase in specific allowances was partially offset by a general allowance writeback. Compared to the previous half year, net profit rose 3% driven by a 5% rise in total income, partially offset by a 1% increase in expenses and higher total allowances. Hong Kong The first-half results incorporated a 3% depreciation of the Hong Kong dollar against the Singapore dollar compared to a year ago. First-half net profit grew 18% from a year ago to $1.03 billion. Total income was 10% higher at $1.95 billion. Net interest income rose 12% to $1.13 billion driven by strong deposit growth and an expansion in net interest margin. Net fee income rose 27% to $641 million led by wealth management. Other non-interest income fell 32% to $183 million due to lower markets trading non-interest income, partially offset by higher treasury customer sales. Expenses were broadly stable at $641 million, while total allowances declined 21% to $84 million due to a general allowance writeback compared with a charge a year ago.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 17 Compared to the previous half year, net profit rose 39%. Total income rose 12% while expenses declined 8%, resulting in a 25% increase in profit before allowances to $1.31 billion. Total allowances declined 56% from the prior period, which had higher specific allowances largely due to the prudent downgrade of a previously watchlisted real estate exposure to NPL. Rest of Greater China First-half net profit rose 22% from a year ago to $533 million. Total income grew 11% to $1.24 billion from a 9% increase in net interest income to $616 million and a 13% rise in non-interest income to $621 million. Expenses declined 1% to $645 million, resulting in a 28% increase in profit before allowances to $592 million. Total allowances rose 19% to $63 million, while share of profits of associates declined 9% to $116 million. Net profit rose 51% from the previous half year. Total income increased 15% from stronger fee income and other non-interest income. Expenses declined 6%. Total allowances declined 6%, and share of profits of associates rose 21%. South and Southeast Asia First-half net profit fell 3% from a year ago to $246 million. Total income declined 9% to $815 million mainly due to lower trading income and gains on investment securities in India. Expenses fell 5% to $449 million. Total allowances decreased 45% to $51 million mainly due to lower specific allowances. Compared to the previous half year, net profit grew 55% driven by higher total income as well as decreases in expenses and total allowances. Rest of the World First-half net profit more than doubled from a year ago to $275 million. Total income grew 13% to $474 million as increases in net interest income and fee income were moderated by a decline in other non-interest income. Expenses were little changed at $84 million. Total allowances declined from $126 million to $13 million due to lower specific allowances. Compared to the previous half year, net profit rose 12% as higher total income and lower expenses more than offset an increase in allowances.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 18 CUSTOMER LOANS ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 Gross 475,238 450,916 439,100 Less: ECL Stage 3 (SP) 2,297 2,324 2,216 ECL Stage 1 & 2 (GP) 3,561 3,581 3,838 Net total 469,380 445,011 433,046 By business unit Consumer Banking/Wealth Management 139,635 135,158 132,549 Institutional Banking 329,180 310,034 302,098 Others 6,423 5,724 4,453 Total (Gross) 475,238 450,916 439,100 By geography1 Singapore 210,852 202,317 197,458 Hong Kong 58,031 56,184 57,196 Rest of Greater China 61,416 58,429 59,236 South and Southeast Asia 42,375 38,773 38,588 Rest of the World 102,564 95,213 86,622 Total (Gross) 475,238 450,916 439,100 By industry Manufacturing 51,180 46,829 43,744 Building and construction 116,133 111,925 113,902 Housing loans 84,776 84,012 85,512 General commerce 48,236 45,576 41,961 Transportation, storage & communications 35,384 33,703 33,092 Financial institutions, investment & holding companies 47,084 45,343 41,941 Professionals & private individuals (excluding housing loans) 46,592 44,437 41,331 Others 45,853 39,091 37,617 Total (Gross) 475,238 450,916 439,100 By currency Singapore dollar 176,809 168,298 168,077 US dollar 130,622 120,367 108,154 Hong Kong dollar 38,631 40,366 40,918 Taiwan dollar 23,760 23,071 26,987 Chinese yuan 26,351 24,366 22,332 Others 79,065 74,448 72,632 Total (Gross) 475,238 450,916 439,100 Notes: 1 Loans by geography are determined according to the location where the borrower, or the issuing bank in the case of bank backed export financing, is incorporated Gross customer loans rose 8% or $35 billion in constant- currency terms from a year ago to $475 billion led by broad-based growth in lending to large corporates. Over the first six months, loans grew 5% or $24 billion in constant-currency terms, led by non-trade corporate lending.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 19 NON-PERFORMING ASSETS AND LOSS ALLOWANCE COVERAGE Notes: 1 NPLs by geography are determined according to the location where the borrower is incorporated 30 Jun 2026 31 Dec 2025 30 Jun 2025 NPA ($m) NPL (% of loans) SP ($m) NPA ($m) NPL (% of loans) SP ($m) NPA ($m) NPL (% of loans) SP ($m) By business unit Consumer Banking/ Wealth Management 1,118 0.8 342 1,039 0.8 317 1,028 0.8 298 Institutional Banking and Others 3,462 1.0 1,955 3,590 1.1 2,007 3,424 1.1 1,918 Total non-performing loans (NPL) 4,580 1.0 2,297 4,629 1.0 2,324 4,452 1.0 2,216 Debt securities, contingent liabilities & others 184 - 86 214 - 98 234 - 116 Total non-performing assets (NPA) 4,764 - 2,383 4,843 - 2,422 4,686 - 2,332 By geography1 Singapore 1,954 0.9 1,228 1,907 0.9 1,185 1,728 0.9 1,045 Hong Kong 1,267 2.2 461 1,367 2.4 509 997 1.7 319 Rest of Greater China 812 1.3 257 844 1.4 279 863 1.5 304 South and Southeast Asia 353 0.8 305 362 0.9 317 494 1.3 400 Rest of the World 194 0.2 46 149 0.2 34 370 0.4 148 Total non-performing loans (NPL) 4,580 1.0 2,297 4,629 1.0 2,324 4,452 1.0 2,216 Debt securities, contingent liabilities & others 184 - 86 214 - 98 234 - 116 Total non-performing assets (NPA) 4,764 - 2,383 4,843 - 2,422 4,686 - 2,332 Loss Allowance Coverage ECL Stage 3 (SP) 2,383 2,422 2,332 ECL Stage 1 and 2 (GP) 3,812 3,859 4,109 Total allowances 6,195 6,281 6,441 Total allowances/ NPA 130% 130% 137% Total allowances/ unsecured NPA 196% 197% 236%
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 20 ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 NPA SP NPA SP NPA SP By industry Manufacturing 236 142 255 146 487 347 Building and construction 1,255 478 1,364 562 1,018 314 Housing loans 199 5 190 5 214 3 General commerce 772 531 803 544 868 567 Transportation, storage & communications 769 586 670 538 680 537 Financial institutions, investment & holding companies 150 34 104 27 47 1 Professionals & private individuals (excluding housing loans) 827 327 803 309 791 295 Others 372 194 440 193 347 152 Total non-performing loans 4,580 2,297 4,629 2,324 4,452 2,216 Debt securities, contingent liabilities & others 184 86 214 98 234 116 Total non-performing assets (NPA) 4,764 2,383 4,843 2,422 4,686 2,332 ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 NPA SP NPA SP NPA SP By loan grading Non-performing assets Substandard 2,339 333 2,390 343 2,613 376 Doubtful 1,350 975 1,357 983 1,050 933 Loss 1,075 1,075 1,096 1,096 1,023 1,023 Total 4,764 2,383 4,843 2,422 4,686 2,332 Of which: restructured assets Substandard 731 158 735 157 900 153 Doubtful 353 309 323 313 293 287 Loss 103 103 113 113 104 104 Total 1,187 570 1,171 583 1,297 544 ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 NPA NPA NPA By collateral type Unsecured non-performing assets 3,164 3,183 2,725 Secured non-performing assets by collateral type Properties 1,026 1,066 1,226 Shares and debentures 2 - 1 Cash deposits 16 6 10 Others 556 588 724 Total 4,764 4,843 4,686 Notes: # Amount less than $500,000
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 21 ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 NPA NPA NPA By period overdue Not overdue 1,463 1,673 1,137 Within 90 days 476 450 505 Over 90 to180 days 401 285 741 Over 180 days 2,424 2,435 2,303 Total 4,764 4,843 4,686 Asset quality remained resilient. Total non-performing assets were slightly lower over the six months at $4.76 billion as new non-performing asset formation was offset by repayments and write-offs. The non-performing loan ratio was stable at 1.0%. General allowance reserves remained prudent at $3.81 billion. Total allowance reserves amounted to $6. 20 billion, resulting in an allowance coverage of 130% and of 196% after considering collateral.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 22 CUSTOMER DEPOSITS ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 By currency and product Singapore dollar 243,856 230,646 215,550 Fixed deposits 32,608 32,837 35,316 Savings accounts 164,209 153,918 140,565 Current accounts 46,708 43,573 39,556 Others 331 318 113 US dollar 243,695 241,063 220,143 Fixed deposits 159,240 157,800 148,331 Savings accounts 29,034 27,713 24,791 Current accounts 52,939 53,731 45,294 Others 2,482 1,819 1,727 Hong Kong dollar 33,527 32,181 34,850 Fixed deposits 15,877 14,601 15,885 Savings accounts 9,637 9,646 9,941 Current accounts 7,777 7,594 8,852 Others 236 340 172 Taiwan dollar 27,238 22,413 22,790 Fixed deposits 20,640 16,395 16,635 Savings accounts 6,568 5,986 6,123 Current accounts 30 31 32 Others # 1 # Chinese yuan 30,623 27,632 22,548 Fixed deposits 14,319 13,339 12,244 Savings accounts 3,645 3,719 2,393 Current accounts 8,625 7,478 5,649 Others 4,034 3,096 2,262 Others 59,264 56,088 58,084 Fixed deposits 41,050 36,603 40,125 Savings accounts 7,914 8,006 7,679 Current accounts 9,791 11,091 9,925 Others 509 388 355 Total 638,203 610,023 573,965 Fixed deposits 283,734 271,575 268,536 Savings accounts 221,007 208,988 191,492 Current accounts 125,870 123,498 109,308 Others 7,592 5,962 4,629 Note: # Amount less than $500,000 Deposits rose 11% or $61 billion in constant-currency terms from a year ago to $638 billion, with the increase led by Casa. The Casa ratio improved from 52% to 54%. Over the first six months, deposits increased 4% or $ 26 billion in constant-currency terms, with more than half of the increase from Casa.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 23 DEBTS ISSUED ($m) 30 Jun 2026 31 Dec 2025 30 Jun 2025 Subordinated term debts1 - 1,276 1,260 Negotiable certificates of deposit1 6,631 5,669 5,246 Senior medium term notes1 16,623 12,557 12,341 Commercial papers1 12,660 14,463 14,475 Covered bonds and other secured notes2 19,734 20,115 18,953 Other debt securities1 30,754 25,471 24,022 Total 86,402 79,551 76,297 Due within 1 year 57,740 52,235 49,244 Due after 1 year3 28,662 27,316 27,053 Total 86,402 79,551 76,297 Notes: 1 Unsecured 2 Collaterals are in the form of residential mortgages and corporate loans 3 Includes instruments in perpetuity
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 24 CAPITAL ADEQUACY ($m) 30 Jun 2026 31 Mar 2026 31 Dec 2025 30 Jun 2025 Common Equity Tier 1 capital 63,516 62,516 62,195 60,538 Tier 1 capital 63,517 62,517 62,195 61,538 Total capital 65,681 64,879 65,446 64,709 Risk-Weighted Assets (“RWA”) Credit RWA 303,647 295,165 288,007 278,204 Market RWA 36,621 33,693 35,733 39,139 Operational RWA 41,672 41,662 41,641 37,817 Total RWA 381,940 370,520 365,381 355,160 Capital Adequacy Ratio (“CAR”) (%) Common Equity Tier 1 (CET-1) 16.6 16.9 17.0 17.0 Tier 1 16.6 16.9 17.0 17.3 Total 17.2 17.5 17.9 18.2 Fully phased-in CET-11 14.6 14.8 15.0 15.1 Minimum CAR including Buffer Requirements (%)2 CET-1 9.2 9.2 9.2 9.2 Effective Tier 1 10.7 10.7 10.7 10.7 Effective Total 12.7 12.7 12.7 12.7 Of which: Buffer Requirements (%) Capital Conservation Buffer 2.5 2.5 2.5 2.5 Countercyclical Capital Buffer 0.2 0.2 0.2 0.2 Note: 1 Calculated based on the Basel III reforms output floor at 72.5% when fully phased in on 1 January 2029 2 Includes minimum Common Equity Tier 1, Tier 1 and Total CAR of 6.5%, 8.0% and 10.0% respectively The CET-1 ratio was at 16.6%, comfortably above the regulatory requirement. PILLAR 3, LIQUIDITY COVERAGE RATIO AND NET STABLE FUNDING RATIO DISCLOSURES The Group’s combined Pillar 3, Liquidity Coverage Ratio and Net Stable Funding Ratio disclosures document and Main Features of Capital Instruments document are published in the Investor Relations section of the Group’s website (https://www.dbs.com/investors/default.page) and (https://www.dbs.com/investors/fixed-income/capital-instruments) respectively. These disclosures are pursuant to MAS’s Notice to Designated Financial Holding Companies FHC-N637 “Notice on Risk Based Capital Adequacy Requirements", FHC-N651 “Liquidity Coverage Ratio (“LCR”) Disclosure” and FHC-N653 “Net Stable Funding Ratio (“NSFR”) Disclosure”. UNREALISED PROPERTY VALUATION SURPLUS The unrealised property valuation surplus as at 30 June 2026 was approximately $957 million.
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 25 UNAUDITED CONSOLIDATED INCOME STATEMENT In $ millions 1st Half 2026 1st Half 2025 +/(-) % 2nd Half 2025 +/(-) % Income Interest and similar income 13,341 14,541 (8) 13,727 (3) Interest expense 6,266 7,212 (13) 6,556 (4) Net interest income 7,075 7,329 (3) 7,171 (1) Net fee and commission income 2,942 2,442 20 2,456 20 Net trading income 1,900 1,723 10 1,638 16 Net income from investment securities 101 123 (18) (23) NM Other income 23 20 15 21 10 Non-interest income 4,966 4,308 15 4,092 21 Total income 12,041 11,637 3 11,263 7 Employee benefits 3,065 2,909 5 2,923 5 Other expenses 1,584 1,575 1 1,942 (18) Total expenses 4,649 4,484 4 4,865 (4) Profit before allowances and amortisation 7,392 7,153 3 6,398 16 Amortisation of intangible assets 11 12 (8) 11 - Allowances for credit and other losses 303 458 (34) 333 (9) Profit after allowances and amortisation 7,078 6,683 6 6,054 17 Share of profits/losses of associates and JVs 138 142 (3) 120 15 Profit before tax 7,216 6,825 6 6,174 17 Income tax expense 1,206 1,104 9 961 25 Net profit 6,010 5,721 5 5,213 15 Attributable to: Shareholders 6,009 5,721 5 5,212 15 Non-controlling interests 1 - NM 1 - 6,010 5,721 5 5,213 15 Notes: NM Not Meaningful
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 26 UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME In $ millions 1st Half 2026 1st Half 2025 +/(-) % 2nd Half 2025 +/(-) % Net profit 6,010 5,721 5 5,213 15 Other comprehensive income Items that may be reclassified subsequently to income statement: Translation differences for foreign operations 110 (1,559) NM 141 (22) Share of other comprehensive income of associates and joint ventures 3 (7) NM 10 (70) Debt instruments at fair value through other comprehensive income Net valuation (losses)/ gains taken to equity (136) 417 NM 175 NM (Gains)/ losses transferred to income statement (58) (103) 44 41 NM Taxation relating to components of other comprehensive income 27 (39) NM (33) NM Cash flow hedges Net valuation gains taken to equity 354 1,531 (77) 853 (58) Gains transferred to income statement (580) (574) (1) (809) 28 Taxation relating to components of other comprehensive income 39 (119) NM (17) NM Items that will not be reclassified to income statement: (Losses)/ gains on equity instruments classified at fair value through other comprehensive income (net of tax) (90) 61 NM 46 NM Fair value change from own credit risk on financial liabilities designated at fair value (net of tax) 134 (65) NM (119) NM Defined benefit plans remeasurements (net of tax) - 3 (100) 1 (100) Other comprehensive income, net of tax (197) (454) 57 289 NM Total comprehensive income 5,813 5,267 10 5,502 6 Attributable to: Shareholders 5,813 5,269 10 5,501 6 Non-controlling interests - (2) NM 1 (100) 5,813 5,267 10 5,502 6 Notes: NM Not Meaningful
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 27 UNAUDITED BALANCE SHEETS The Group The Company 30 Jun 31 Dec 30 Jun 30 Jun 31 Dec 30 Jun In $ millions 2026 20251 2025 2026 20251 2025 Assets Cash and balances with central banks 46,146 55,844 57,163 - - - Government securities and treasury bills 111,022 107,361 93,500 - - - Due from banks 106,419 93,881 84,068 81 75 359 Derivative assets 35,036 23,621 24,112 13 13 7 Bank and corporate securities 152,234 128,380 109,494 - - - Loans and advances to customers 469,380 445,011 433,046 - - - Other assets 31,616 30,100 27,191 229 - 4 Investment in subsidiaries - - - 18,834 18,835 19,687 Due from subsidiaries - - - 3,889 5,087 6,605 Associates and joint ventures 3,646 3,490 3,263 - - - Properties and other fixed assets 3,808 3,486 3,662 - - - Goodwill and intangible assets 6,290 6,314 6,397 - - - Total assets 965,597 897,488 841,896 23,046 24,010 26,662 Liabilities Due to banks 94,469 79,295 71,290 - - - Deposits and balances from customers 638,203 610,023 573,965 - - - Derivative liabilities 32,212 23,197 25,194 1 48 89 Other liabilities 44,094 36,506 26,540 42 48 64 Due to subsidiaries - - - 1,007 1,004 1,008 Other debt securities 86,402 78,275 75,037 4,250 3,991 5,708 Subordinated term debts - 1,276 1,260 - 1,276 1,260 Total liabilities 895,380 828,572 773,286 5,300 6,367 8,129 Net assets 70,217 68,916 68,610 17,746 17,643 18,533 Equity Share capital 11,948 11,761 11,769 12,005 11,822 11,818 Other equity instruments - - 1,000 - - 1,000 Other reserves 1,296 1,723 1,173 50 145 23 Revenue reserves 56,922 55,383 54,622 5,691 5,676 5,692 Shareholders’ funds 70,166 68,867 68,564 17,746 17,643 18,533 Non-controlling interests 51 49 46 - - - Total equity 70,217 68,916 68,610 17,746 17,643 18,533 Other Information Net book value per share ($) 24.69 24.29 23.82 6.24 6.22 6.18 Note: 1 Audited
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 28 UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 30 JUNE 2026 The Group Attributable to shareholders of the Company In $ millions Share Capital Other equity instruments Other reserves Revenue reserves Total Shareholders’ funds Non- controlling interests Total equity Balance at 1 January 2026 11,761 - 1,723 55,383 68,867 49 68,916 Purchase of treasury shares (18) - - - (18) - (18) Transfer of treasury shares upon vesting of performance shares 25 - (26) - (1) - (1) Issue of new shares pursuant to DBSH Share Plan 180 - (180) - - - - Cost of share-based payments - - 111 - 111 - 111 Dividends to shareholders1 - - - (4,604) (4,604) - (4,604) Other movements - - - (2) (2) 2 - Net profit - - - 6,009 6,009 1 6,010 Other comprehensive income - - (332) 136 (196) (1) (197) Balance at 30 June 2026 11,948 - 1,296 56,922 70,166 51 70,217 Balance at 1 January 2025 11,537 2,392 1,694 53,163 68,786 47 68,833 Purchase of treasury shares (15) - - - (15) - (15) Transfer of treasury shares upon vesting of performance shares 247 - (247) - - - - Cost of share-based payments - - 97 - 97 - 97 Redemption of perpetual capital securities - (1,392) - 51 (1,341) - (1,341) Dividends to shareholders1 - - - (3,876) (3,876) - (3,876) Shares repurchased and cancelled - - - (355) (355) - (355) Other movements - - - (1) (1) 1 - Net profit - - - 5,721 5,721 - 5,721 Other comprehensive income - - (371) (81) (452) (2) (454) Balance at 30 June 2025 11,769 1,000 1,173 54,622 68,564 46 68,610 Note: 1 Includes distributions paid on capital securities classified as equity of Nil (1st Half 2025: $42 million)
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 29 UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 30 JUNE 2026 The Company In $ millions Share capital Other equity instruments Other reserves Revenue reserves Total equity Balance at 1 January 2026 11,822 - 145 5,676 17,643 Transfer of treasury shares 3 - - - 3 Draw-down of share plan reserves upon vesting of performance shares - - (26) - (26) Issue of new shares pursuant to DBSH Share Plan 180 - (180) - - Cost of share-based payments - - 111 - 111 Dividends to shareholders1 - - - (4,605) (4,605) Net profit - - - 4,620 4,620 Balance at 30 June 2026 12,005 - 50 5,691 17,746 Balance at 1 January 2025 11,586 2,392 170 5,546 19,694 Transfer of treasury shares 232 - - - 232 Draw-down of share plan reserves upon vesting of performance shares - - (247) - (247) Cost of share-based payments - - 97 - 97 Redemption of perpetual capital securities - (1,392) - 51 (1,341) Dividends to shareholders1 - - - (3,878) (3,878) Shares repurchased and cancelled - - - (355) (355) Net profit - - - 4,328 4,328 Other comprehensive income - - 3 - 3 Balance at 30 June 2025 11,818 1,000 23 5,692 18,533 Note: 1 Includes distributions paid on capital securities classified as equity of Nil (1st Half 2025: $42 million)
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 30 UNAUDITED CONSOLIDATED CASH FLOW STATEMENT In $ millions 1st Half 2026 1st Half 2025 Cash flows from operating activities Profit before tax 7,216 6,825 Adjustments for non-cash and other items: Allowances for credit and other losses 303 458 Amortisation of intangible assets 11 12 Depreciation of properties and other fixed assets 411 410 Share of profits or losses of associates and joint ventures (138) (142) Net gain on disposal, net of write-off of properties and other fixed assets (3) 1 Net income from investment securities (101) (123) Cost of share-based payments 111 97 Interest expense on subordinated term debts 8 20 Interest expense on lease liabilities 10 12 Profit before changes in operating assets & liabilities 7,828 7,570 Increase/(Decrease) in: Due to banks 14,466 13,009 Deposits and balances from customers 27,887 22,291 Derivative and other liabilities 16,788 (10,122) Other debt securities and borrowings 7,628 9,097 (Increase)/Decrease in: Restricted balances with central banks (4,041) (352) Government securities and treasury bills (3,909) (14,953) Due from banks (12,121) (7,099) Bank and corporate securities (23,367) (7,383) Loans and advances to customers (24,542) (10,262) Derivative and other assets (12,820) 3,311 Income taxes paid (924) (779) Net cash (used in)/ generated from operating activities (1) (7,127) 4,328 Cash flows from investing activities Dividends from associates and joint ventures 88 87 Acquisition of interests in associates and joint ventures (43) (329) Return of capital from associates and joint ventures 43 26 Proceeds from disposal of properties and other fixed assets 12 - Proceeds from disposal of associates - 31 Purchase of properties and other fixed assets (679) (221) Net cash used in investing activities (2) (579) (406) Cash flows from financing activities Interest paid on subordinated term debts (21) (21) Redemption of subordinated term debts (1,276) - Purchase of treasury shares (18) (15) Dividends paid to shareholders of the Company1 (4,604) (3,876) Repayment of lease liabilities (115) (126) Redemption of perpetual capital securities - (1,341) Shares repurchased and cancelled - (355) Net cash used in financing activities (3) (6,034) (5,734) Exchange translation adjustments (4) 7 60 Net change in cash and cash equivalents2 (1)+(2)+(3)+(4) (13,733) (1,752) Cash and cash equivalents at beginning of period 46,382 47,352 Cash and cash equivalents at end of period 32,649 45,600 Notes: 1 Includes distributions paid on capital securities classified as equity 2 Cash and cash equivalents refer to cash and non-restricted balances with central banks
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 31 OTHER FINANCIAL INFORMATION 1. Fair Value Measurement The valuation process and fair value hierarchy policies applied for the current financial period are consistent with those for the financial year ended 31 December 2025. Fair Value Hierarchy The following tables present assets and liabilities measured at fair value, classified by level within the fair value hierarchy. 30 Jun 2026 31 Dec 2025 In $ millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Financial assets at FVPL1 - Government securities and treasury bills 16,983 4,144 - 21,127 15,985 3,064 - 19,049 - Bank and corporate securities 44,316 13,873 1,202 59,391 31,418 11,772 162 43,352 - Other financial assets - 61,107 - 61,107 - 51,910 - 51,910 FVOCI2 financial assets - Government securities and treasury bills 32,365 5,782 - 38,147 27,798 4,404 - 32,202 - Bank and corporate securities 20,380 6,807 1,760 28,947 19,253 5,317 1,166 25,736 - Other financial assets 126 3,552 - 3,678 72 5,769 - 5,841 Derivative assets 172 34,859 5 35,036 33 23,587 1 23,621 Non-financial assets 3,081 304 # 3,385 4,413 232 # 4,645 Liabilities Financial liabilities at FVPL1 - Other debt securities - 30,754 - 30,754 - 25,462 - 25,462 - Other financial liabilities 7,736 69,921 - 77,657 4,874 53,636 - 58,510 Derivative liabilities 188 32,022 2 32,212 277 22,920 # 23,197 # Amount less than $500,000 Notes: 1 Refers to fair value through profit or loss. 2 Refers to fair value through other comprehensive income The bank and corporate securities classified as Level 3 at 30 June 2026 comprised mainly securities which were marked using approximations, less liquid bonds and unquoted equity securities valued based on net asset value of the investments. 2. Off-balance Sheet Items In $ millions 30 Jun 2026 31 Dec 2025 30 Jun 2025 Contingent liabilities 42,797 39,094 37,606 Commitments1 480,468 458,983 444,849 Financial Derivatives 3,785,081 3,576,168 3,621,180 Note: 1 Includes commitments that are unconditionally cancellable at any time of $389,724 million for 30 Jun 2026 (31 Dec 2025: $373,188 million; 30 Jun 2025: $363,808 million).
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DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES 32 ADDITIONAL INFORMATION SHARE CAPITAL (a) The movement in the number of issued and fully paid-up ordinary shares of the Company is as follows: Number of shares (million) 1st Half 2026 1st Half 2025 Issued Ordinary shares Balance at beginning of period 2,838 2,846 Shares repurchased and cancelled - (8) Shares issued pursuant to DBSH Share Plan 6 - Balance at end of period 2,844 2,838 Treasury shares Balance at beginning of period # (6) Shares transferred pursuant to DBSH Share Plan # 6 Balance at end of period # # Issued Ordinary shares net of Treasury shares 2,844 2,838 # represents less than 500,000 shares (b) The weighted average number of Issued Ordinary shares net of Treasury shares for the first half of 2026 is 2,841 million (basic) and 2,850 million (fully diluted). INTERESTED PARTY TRANSACTIONS PURSUANT TO LISTING RULE 920(1) The Company has not obtained a general mandate from shareholders for Interested Person Transactions. CONFIRMATION OF DIRECTORS AND EXECUTIVE OFFICERS’ UNDERTAKINGS PURSUANT TO LISTING RULE 720(1) The Company has procured undertakings from all its directors and executive officers in compliance with Listing Rule 720(1).