Slides
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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 3Q 2026 financial results November 5, 2026 CEO observations
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Strong business momentum underscores franchise resilience 2 A record nine months o 9M total income and net profit at new highs, ROE at 17% o 3Q earnings moderate from 2Q high, mainly due to lower markets trading income Solid customer franchise growth sustained in 3Q o Wealth NNM and AUM at new highs; wealth fees in 1Q-3Q the three highest quarters on record o IBG treasury customer sales and transaction services fees also at new highs o Robust loan and deposit growth Net interest income past the trough, exit NIM at 1.90% o 3Q Group NII second highest on record despite low Sora, testament to balance sheet growth and proactive hedging
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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 Trading update for the quarter ended. 2027 outlook 3 Global economy remains resilient, but outlook more uncertain amid elevated energy prices, tighter financial conditions and geopolitical risks Total income growth to be in mid-single-digit range o Assumes two more US Fed rate hikes from now till end-2027, Sora averaging ~1.6% and a stronger SGD o NII sensitivity of $10m/bp to SG interest rates and -$2m/bp to US interest rates; capturing favourable hedging opportunities o NII supported by healthy loan pipeline and deposit growth o Structural growth in wealth management to continue o Prudent growth in FIG and TMT Cost-income ratio to be in low-40% range o Mid-single-digit expense growth SP assumed to be within 17-20bp; GP reserves provide ample buffer against risk
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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 3Q 2026 financial results November 5, 2026 CEO observations
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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 3Q 2026 financial results November 5, 2026 Strong franchise growth, record 9M income and earnings
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Highlights 2 3Q net profit at $2.81b Total income slightly lower YoY at $5.85b; strong business momentum offset by lower markets trading income o Group net interest income up 4% to $3.71b led by strong loan and deposit growth o Fee income and treasury customer sales rise; Wealth segment AUM at new high o Markets trading income declines amid unfavourable equity market conditions 9M net profit up 2% to record $8.82b Total income rises 2% to new high of $17.9b led by record fee income and treasury customer sales Balance sheet remains strong NPA declines 3% QoQ as new NPA formation remains low, NPL ratio improves to 0.9% SP at 17bp for 3Q and 16bp for 9M Allowance coverage at 134% and 202% after considering collateral Transitional CET1 ratio at 15.9%, fully phased-in at 14.0% 3Q total dividend of 81¢ per share, comprising 66¢ ordinary dividend and 15¢ Capital Return dividend
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33 negative positiveImpact on earnings: 2,954 2,813 3Q25 net profit 18 Net interest income 75 Fee income 107 287 Markets trading income 20 Expenses 29 GP 22 SP 23 Tax and others 3Q26 net profit +1% +6% -65%+19% -1% 3Q net profit declines 5% YoY Treasury customer sales & other income Commercial book Group net interest income rises 4%, balance sheet growth and hedging more than offset lower Sora Higher fee income and treasury customer sales Markets trading income declines 65% amid unfavourable equity market conditions Expenses decline 1%, cost-income ratio at 41% Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) record 3Q26 5,693 YoY % 4 152 (65) 5,845 (1) 3,711 4 2,373 (1) 3,472 (2) 175 41 2,813 (5)
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44 negative positiveImpact on earnings: 3,079 2,813 2Q26 net profit 93 Net interest income 28 Fee income 4 317 Markets trading income 26 Expenses 59 GP 3 SP 70 Tax and others 3Q26 net profit +3% -2% -68%+1% +1% 3Q net profit declines 9% QoQ Treasury customer sales & other income Commercial book Group net interest income rises 4% driven by balance sheet growth Fee income eases 2%, treasury customer sales near previous quarter’s record Markets trading income down 68% SP at 17bp, GP write-back of $16m Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) 3Q26 5,693 QoQ % 1 152 (68) 5,845 (4) 3,711 4 2,373 1 3,472 (7) 175 55 2,813 (9) record
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55 negative positiveImpact on earnings: 8,675 8,822 9M25 Net profit 368 Net interest income 575 Fee income 320 210 Markets trading income 145 Expenses 201 GP 97 SP 129 Tax and others 9M26 Net profit -3% +15% -17%+19% +2% 9M net profit up 2% to new high Treasury customer sales & other income Commercial book Group net interest income little changed as balance sheet growth and hedging mitigate rate headwinds Record fee income and treasury customer sales Markets trading income declines 17% due to weaker 3Q performance Cost-income ratio stable at 39% Total income Commercial book Markets trading Expenses Profit before allowances Allowances Net profit of which: NII (S$m) record record 9M26 YoY % 16,876 3 1,010 (17) 7,022 2 10,864 2 478 (18) 8,822 2 record 17,886 2 10,786 (1) record
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6 NIM (%) 1.96 1.93 1.89 1.87 1.87 2.40 2.34 2.29 2.21 2.16 3,558 3,592 3,475 3,483 3,576 20 3Q25 1 4Q25 19 1Q26 98 2Q26 135 3Q26 3,578 3,593 3,494 3,581 3,711 NII (S$m) Group Commercial book 3Q group net interest income up 4% QoQ, NIM stable at 1.87% 10,902 10,534 5 9M25 252 9M26 10,907 10,786 2.04 1.88 2.54 2.22 Commercial book Markets trading Avg rates (%) Sora Sofr 1.45 1.19 1.07 4.33 3.99 3.66 1.08 3.62 1.13 3.65 2.01 4.33 1.23 3.67
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77 212 141 297 As at Sep 26 650 Deposits up 3% QoQ, 7% over 9M In constant-FX terms Deposits up 3% QoQ and 7% over 9M from both Casa and FD inflows (S$b) SGD Casa FCY Casa FD and others +15 +7 +21 9M26 +42 Constant-FX change -2 +9 +3 +8 1Q26 +5 +4 2Q26 +19 +7 3Q26 +1 +16 +9 +7
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Loans up 3% QoQ, 8% over 9M 88 Constant-FX change 286 51 144 As at Sep 26 484 Gross loans (S$b) IBG trade IBG non-trade CBG / WM Others +28 +1 +10 9M26 +36 +5 +0 +3 1Q26 +11 +1 +2 2Q26 +8 +15 3Q26 -1 +13 +5 +11 In constant-FX terms 3Q loans rise 3% QoQ driven by non-trade corporate and wealth management loans 9M loans up 8% led by non-trade corporate loans
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99 Gross fee income (S$m) 796 645 907 919 864 303 323 305 305 311 248 227 257 256 268 183 138 209 179 19251 3Q25 48 4Q25 30 1Q26 40 2Q26 40 3Q26 1,581 1,381 1,708 1,699 1,675 3Q fee income rises 6% YoY led by wealth management YoY (%) Total Wealth management 20 12 14 31 24 25 2,169 2,690 902 921 715 781595 58098 9M25 110 9M26 4,479 5,082 16 13 30 24 Wealth management Investment banking Loan-related Cards Transaction services 22 6 42 9
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1010 (S$m) 3Q customer-driven non-interest income rises 8% YoY, 9M up 16% to record 1,357 1,099 1,482 1,460 1,432 581 485 592 678 668 3Q25 4Q25 1Q26 2Q26 3Q26 1,938 1,584 2,074 2,138 2,100 3,799 4,374 1,657 1,938 9M25 9M26 5,456 6,312 Treasury customer sales Net fee income
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11 Record 3Q NNM inflows, AUM rises 16% YoY in constant-FX terms to $544b (S$m) 939 731 1,030 1,119 1,055 597 572 557 593 581 3Q25 4Q25 1Q26 2Q26 3Q26 1,536 1,303 1,587 1,712 1,637 488 12 AUM (S$b) NNM (S$b) 492 10 YoY (%) Total Non-interest income 474 7 13 5 7 32 22 19 2,556 3,204 1,821 1,731 9M25 9M26 4,377 4,935 10 13 28 25 544 36 474 27 Net interest income Non-interest income 26 7 49 12 516 544 11 15 Wealth segment comprises Treasures, Treasures Private Client and Private Bank
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9M CBG / WM income up 2% 12 (S$m) Total income 9M26 9M25 YoY % 8,213 8,045 2 Loans and deposits 3,873 (12) Investment products 3,589 2,911 23 Cards 744 718 4 Others 7 27 (74) Expenses 4,058 4,010 1 Profit before allowances 4,155 4,035 3 Retail + Wealth segment AUM 697 608 15 SGD savings deposits (S$b) 166 149 12 4,388 Total income up 2% to $8.21b led by strong growth in investment product sales and bancassurance Retail + Wealth segment AUM up 15% to $697b
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13 9M IBG income up 2% (S$m) 9M26 9M25 YoY % Total income 6,901 6,755 2 Loans 2,643 2,612 1 Trade 503 475 6 Cash / SFS 2,716 2,756 (1) Treasury and investment banking 1,039 912 14 Expenses 2,171 2,137 2 Profit before allowances 4,730 4,618 2 Assets (S$b) 373 339 10 GTS deposits (S$b) 227 208 9 Total income up 2% to $6.90b led by record treasury customer income and transaction service fees
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14 9M treasury customer income rises 21% to record, markets trading income declines 1,220 1,010 2,177 2,623 9M25 9M26 3,397 3,633 439 154 389 469 152 831 666 781 924 919 3Q25 4Q25 1Q26 2Q26 3Q26 1,271 819 1,170 1,392 1,071 Treasury customer income (S$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 23 21 60 (17) 40 22 13 41 33 (3) 7 12 10 (65)
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9M expenses up 2%, cost-income ratio stable at 39% 15 Cost-income ratio (%) Other expenses (S$m) 1,541 1,382 1,522 1,543 1,483 852 990 780 804 890 3Q25 4Q25 1Q26 2Q26 3Q26 2,393 2,372 2,302 2,347 2,373 40 44 39 39 41 4,450 4,548 2,427 2,474 9M25 9M26 6,877 7,022 39 39 Staff expenses
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NPL ratio declines to 0.9% 16 (S$m) 9M25 9M26 3Q25 4Q25 NPAs at start of period 5,036 4,843 4,686 4,627 IBG and others (327) (256) (84) 248 New NPAs 449 343 113 751 Upgrades, settlements and recoveries (523) (364) (141) (280) Write-offs (253) (235) (56) (223) CBG / WM 45 94 8 3 Translation (127) (49) 17 (35) NPAs at end of period 4,627 4,632 4,627 4,843 NPL ratio (%) 1.0 0.9 1.0 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 3Q26 4,764 (97) 82 (139) (40) 15 (50) 4,632 0.9
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3Q SP at 17bp, 9M at 16bp 17 (S$m) 9M25 9M26 3Q25 4Q25 IBG and others 129 233 71 282 Add charges for 373 315 120 355 New NPLs 125 146 31 308 Existing NPLs 248 169 89 47 Subtract charges for 244 82 49 73 Upgrades 120 1 0 1 Settlements 81 66 41 68 Recoveries 43 15 8 4 CBG / WM 305 311 96 126 SP charges for loans 434 544 167 408 Other credit exposures (4) (8) 3 7 Total SP charges 430 536 170 415 SP / loans (bp) 13 16 15 36 1Q26 43 73 51 22 30 1 23 6 112 155 2 157 14 2Q26 75 100 56 44 25 0 22 3 106 181 7 188 16 3Q26 115 148 26 122 33 0 27 6 93 208 (17) 191 17
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GP reserves remain prudent 18 (S$m) 2,354 2,422 2,313 2,383 2,413 4,071 3,859 3,886 3,812 3,786 6,425 6,281 6,199 6,195 6,199 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 139 130 131 130 134 229 197 200 196 202 SP GP Total allowance reserves as % of: NPA Unsecured NPA
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CET-1 and leverage ratios remain healthy 19 16.9 17.0 16.9 16.6 15.9 0.9 0.9 17.8 17.9 17.5 17.2 16.50.6 0.6 0.6 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 RWA (S$b) 367 365 371 382 398 Leverage ratio (%) 6.2 6.2 5.9 5.8 5.7 Tier 2 Common Equity Tier 1 (%) Fully phased-in Common Equity Tier 1 (%) 15.1 15.0 14.8 14.6 14.0 Adjusting for MAS's reduction in the operational risk multiplier from 1.8x to 1.5x on 4 November 2026, the Sep 26 CET-1 ratios would be 16.1% on a transitional basis and 14.1% on a fully phased-in basis
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20 3Q 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 66 2024 15 15 15 15 2025 15 15 2026 222 306 243 15 Ordinary Capital Return 1Q 2Q 3Q 4Q 75 75 75 81 81 81 81
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21 In summary Sustained business momentum in 3Q with robust growth in loans, deposits, and wealth assets Structural opportunities captured across wealth management and institutional banking Outlook more uncertain; a supportive rate environment and structural growth opportunities would benefit earnings, while strong capital, liquidity, and general allowance buffers provide resilience 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 Trading Update for the quarter ended.
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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 3Q 2026 financial results November 5, 2026 Strong franchise growth, record 9M income and earnings