DBS Bank has reported a record-breaking income for the third quarter of 2025, driven primarily by strong fee income from its wealth management sector. The bank’s total income surged by 3% to S$5.9 billion, with fee income and treasury customer sales reaching new highs. Net interest income remained stable, while market trading income improved due to lower funding costs and a more favorable trading environment. However, the bank’s net profit experienced a slight dip of 2% year-on-year to S$2.93 billion, largely due to the newly enforced global minimum tax reform.
Despite this, the bank’s profit before tax rose by 1% to an all-time high of S$3.5 billion. Expenses increased by 6% to S$2.4 billion, primarily driven by higher staff costs as bonus accruals rose in line with the improved performance. For the first nine months of the year, DBS’s profit amounted to S$8.7 billion, representing a marginal decline of 1% from the same period last year.
Looking ahead, DBS’s CEO, Tan Su Shan, emphasized the bank’s ability to adapt to the challenges of decreasing interest rates through agile balance sheet management. The bank plans to seize structural opportunities across wealth management and institutional banking, ensuring continued growth and success. The CEO’s strategy is focused on navigating the pressures of declining interest rates while capitalizing on opportunities in key business segments.
The strong performance of DBS’s wealth management sector was a key driver of the bank’s record-breaking income. The sector’s fee income and treasury customer sales reached new highs, contributing to the bank’s overall revenue growth. The bank’s ability to generate strong fee income from its wealth management business is a testament to its strength in this area and its ability to capitalize on growing demand for wealth management services.
Overall, DBS Bank’s record-breaking income in the third quarter of 2025 demonstrates the bank’s resilience and ability to adapt to changing market conditions. While the newly enforced global minimum tax reform had a negative impact on the bank’s net profit, the bank’s strong performance in its wealth management sector and its ability to navigate the challenges of decreasing interest rates position it well for continued growth and success in the future.