DBS said wealth management performance was a contributor to its record income for the quarter.

Net profit for Singapore-based DBS in the first quarter of 2026 inched up by 1 per cent on a year before to S$2.93 billion ($2.29 billion).

Total income reached a record of S$5.95 billion, led by wealth management performance, which drove fee income and treasury customer sales to new highs, the bank said in a statement. 

The board declared an ordinary dividend of S$66 cents per share and a capital return dividend of S$15 cents per share for the first quarter.

Expenses rose 4 per cent, led by higher staff costs, and profit before allowances was little changed. 

The firm reported a Common Equity Tier-1 ratio, a standard international measure of a bank’s capital shock absorber, of 16.9 per cent based on transitional arrangements, while the pro-forma ratio on a fully phased-in basis was 14.8 per cent.

“We had a strong start to the year, with record total income and a return on equity of 17 per cent despite continued rate headwinds and heightened geopolitical uncertainty. The quarter was anchored by record wealth management performance, alongside robust deposit growth, record transaction services fees and stronger markets trading income,” DBS chief executive Tan Su Shan (pictured below) said.

Tan Su Shan
 
“While the Iran war and its potential second-order effects have added uncertainty to the outlook, our stress tests indicate that our credit portfolio remains sound. Our solid balance sheet, with prudent general allowance buffers, strong capital position and robust liquidity, underpins our resilience,” she added.