DBS third-quarter net profit falls 5% on year, misses forecasts

The bank on Thursday appointed independent board director Anthony Lim as chairman from Jan 1, 2027, succeeding Peter Seah, who will step down after 16 years in the role.

A DBS company signage is seen on a building facade at the central business district in Singapore on Mar 14, 2025. (File photo: AFP/Roslan Rahman)

SINGAPORE: DBS Group, Singapore's biggest bank, warned on Thursday (Nov 5) of growing global uncertainty due to elevated energy prices, higher interest rates and geopolitical risks as market volatility pushed its earnings lower.

The bank also announced on Thursday that independent director Anthony Lim would take over as chairman on Jan 1, 2027, succeeding Mr Peter Seah, who will retire after 16 years in the role.

DBS, which is also Southeast Asia's biggest lender by assets, said July-September net profit fell 5 per cent to S$2.81 billion (US$2.20 billion) from a year earlier, mainly on a decline in markets trading income.

The result undershot the mean estimate of S$2.90 billion from four analysts, according to LSEG data, even though its wealth management division posted a strong performance.

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less In a media release announcing the leadership renewal, DBS said Mr Seah will retire on Dec 31 and be appointed senior advisor for a year. "As Chairman since 2010, Seah provided steadfast leadership and strategic oversight as DBS pursued a strategy of digital transformation and growth in high-return businesses," said DBS. "Over this period, DBS delivered significant growth and transformation," it added, noting that since 2010, DBS Group's income has more than tripled while net profit has increased more than fourfold. DBS said its market capitalisation crossed S$200 billion in July 2026, making it Singapore's largest listed company by a significant margin. Its market capitalisation was also approximately six times its size at the end of 2009, the bank added. Mr Lim, meanwhile, has served on the boards of DBS Group Holdings and DBS Bank since April 2020. Over the past six years, he has developed a deep understanding of DBS' culture and strategy through his involvement in the Board Executive Committee, Board Risk Management Committee and Compensation and Management Development Committee, said DBS.

In a media release announcing the leadership renewal, DBS said Mr Seah will retire on Dec 31 and be appointed senior advisor for a year.

"As Chairman since 2010, Seah provided steadfast leadership and strategic oversight as DBS pursued a strategy of digital transformation and growth in high-return businesses," said DBS.

"Over this period, DBS delivered significant growth and transformation," it added, noting that since 2010, DBS Group's income has more than tripled while net profit has increased more than fourfold.

DBS said its market capitalisation crossed S$200 billion in July 2026, making it Singapore's largest listed company by a significant margin. Its market capitalisation was also approximately six times its size at the end of 2009, the bank added.

Mr Lim, meanwhile, has served on the boards of DBS Group Holdings and DBS Bank since April 2020.

Over the past six years, he has developed a deep understanding of DBS' culture and strategy through his involvement in the Board Executive Committee, Board Risk Management Committee and Compensation and Management Development Committee, said DBS.

DBS chairman Peter Seah (left) and incoming chairman Anthony Lim. (Photos: DBS)

"UNFAVOURABLE EQUITY MARKET CONDITIONS"

The group's markets trading income sank 65 per cent year-on-year to S$152 million for the quarter, which DBS attributed to "unfavourable equity market conditions".

The bank's net interest margin, a key profitability ‌gauge, fell 9 basis points year-on-year to 1.87 per cent.

The decline underscores how surging global bond yields, a rout in high-flying technology stocks last quarter and the ongoing Middle East conflict are beginning to bite into Singapore lenders' earnings after strong wealth management momentum cushioned their bottom lines in the first half .

DBS's result was announced a day after its smaller peer UOB posted a fall in its trading and investment income and flagged further margin pressures ahead.

"While the global economy has remained resilient, the outlook has become more uncertain," DBS CEO Tan Su Shan said in a statement. "As we enter 2027, we will stay nimble to capture opportunities while prudently managing risks."

Asia's ongoing wealth boom continued to bolster the earnings of Singapore's largest lender.

For the quarter, wealth management fees rose 9 per cent from a high base a year ago to S$864 million, supported by growth in assets under management.

Transaction services fees recorded a new high, while loan-related and card fees similarly increased, taking its net fee income up an annual 6 per cent to S$1.43 billion.

For its 2027 outlook, DBS said it expects total income to rise in the mid-single-digit range, assuming two more US Federal Reserve rate hikes by the end of next year, alongside a gradual rise in domestic interest rates and the Singapore dollar.

The "structural growth" in wealth management is also expected to continue, the bank said.

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该银行周四任命独立董事 Anthony Lim 自 2027 年 1 月 1 日起担任董事长，接替 Peter Seah，后者在担任该职位 16 年后将卸任。

2025年3月14日，新加坡中央商务区一栋建筑外墙上出现星展银行（DBS）的标志。（资料照片：法新社/罗斯兰·拉赫曼）

新加坡：新加坡最大的银行星展集团周四（11月5日）警告称，由于能源价格高企、利率上升和地缘政治风险，全球不确定性日益加剧，市场波动导致其盈利下降。

该银行周四还宣布，独立董事 Anthony Lim 将于 2027 年 1 月 1 日接任董事长一职，接替担任该职位 16 年的 Peter Seah 先生，后者将退休。

星展银行（DBS）是东南亚资产规模最大的银行，该行表示，7月至9月净利润同比下降5%至28.1亿新元（22亿美元），主要原因是市场交易收入下降。

根据伦敦证券交易所集团（LSEG）的数据，尽管其财富管理部门表现强劲，但该业绩仍低于四位分析师平均预期的 29 亿新元。

CNA游戏 猜词游戏 逐行破解单词 流行词游戏 用给定的字母组成单词 迷你数独 小谜题，脑力挑战 迷你填字游戏 小方格，大挑战 单词搜索 尽可能多地找出单词 显示更多 显示更少 在星展银行发布的新闻稿中，星展银行宣布领导层换届，并表示佘先生将于12月31日退休，之后将担任一年的高级顾问。星展银行表示：“自2010年担任董事长以来，佘先生为星展银行推行数字化转型和高回报业务增长战略提供了坚定不移的领导和战略指导。” 星展银行补充道：“在此期间，星展银行实现了显著的增长和转型。” 并指出，自2010年以来，星展集团的收入增长了两倍多，净利润增长了四倍多。星展银行表示，其市值将于2026年7月突破2000亿新元，成为新加坡市值最大的上市公司，遥遥领先。该银行补充道，其市值在2009年底约为其规模的六倍。与此同时，林先生自2020年4月起担任星展集团控股公司和星展银行的董事。星展银行表示，过去六年里，林先生通过参与董事会执行委员会、董事会风险管理委员会以及薪酬与管理发展委员会的工作，对星展的文化和战略有了深刻的了解。

星展银行在宣布领导层换届的新闻稿中表示，佘先生将于12月31日退休，并被任命为高级顾问一年。

星展银行表示：“自 2010 年担任董事长以来，谢先生为星展银行推行数字化转型和高回报业务增长战略提供了坚定不移的领导和战略监督。”

“在此期间，星展银行实现了显著的增长和转型，”报告补充道，并指出自 2010 年以来，星展集团的收入增长了两倍多，净利润增长了四倍多。

星展银行表示，其市值在2026年7月突破2000亿新元，成为新加坡市值最大的上市公司，且领先优势显著。该行还补充道，其市值约为2009年底的六倍。

与此同时，林先生自 2020 年 4 月起担任星展集团控股公司和星展银行的董事。

星展银行表示，在过去的六年里，他通过参与董事会执行委员会、董事会风险管理委员会以及薪酬与管理发展委员会的工作，对星展银行的文化和战略有了深刻的了解。

星展银行主席佘彼得（左）和即将上任的主席林荣福。（图片：星展银行）

“不利的股票市场环境”

该集团本季度市场交易收入同比下降 65% 至 1.52 亿新元，星展银行将其归因于“不利的股票市场状况”。

该银行的净息差（一项关键的盈利能力指标）同比下降 9 个基点至 1.87%。

这一下跌凸显了全球债券收益率飙升、上季度高增长科技股暴跌以及持续不断的中东冲突如何开始侵蚀新加坡银行的盈利，此前强劲的财富管理势头在上半年缓冲了它们的利润。

星展银行公布业绩的前一天，规模较小的竞争对手大华银行公布了其交易和投资收入下降的业绩，并预示着未来利润率将面临进一步压力。

星展银行首席执行官陈素珊在一份声明中表示：“尽管全球经济保持韧性，但前景变得更加不明朗。展望2027年，我们将保持灵活，把握机遇，同时审慎管控风险。”

亚洲持续的财富增长继续提振了新加坡最大贷款机构的盈利。

本季度，财富管理费用较去年同期的高基数增长了 9%，达到 8.64 亿新元，这得益于管理资产的增长。

交易服务费创下新高，贷款相关费用和信用卡费用也同样增长，使其净费用收入同比增长 6%，达到 14.3 亿新元。

星展银行表示，在2027年的展望中，预计总收入将实现中等个位数的增长，前提是美联储在明年年底前再加息两次，同时国内利率和新加坡元也逐步上涨。

该银行表示，财富管理领域的“结构性增长”预计也将继续。

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