At group level, Q2 results pleased investors, helping the share price rise. For the division containing wealth management, pre-tax profit rose a touch in the first half of 2025 from a year before.

DBS, a Singapore-listed banking group that provides services including private banking, yesterday said its consumer banking/wealth management arm logged pre-tax profit of S$2.397 billion ($1.87 billion) in the first six months of 2025, versus S$2.346 billion a year earlier.

For the group results as a whole, investors appeared to like them – shares in the lender touched S$50 a share before retreating later. 

Total income in this DBS division was S$5.284 billion in H1 2025, against S$5.059 billion a year before, DBS said in a statement. 

Across the DBS group as a whole, it logged net profit of S$2.82 billion for second-quarter 2025, 1 per cent higher than a year ago, despite heightened macroeconomic uncertainty, sharp declines in interbank interest rates, significant currency fluctuations, and the implementation of the 15 per cent global minimum [corporate] tax, DBS said. Results for the quarter were ahead of consensus forecasts.

Shares in DBS are up about 13.2 per cent since the start of 2025. 

For the first half of 2025, total income and profit before tax rose 5 per cent and 3 per cent respectively to new highs of S$11.6 billion and S$6.83 billion.
Return on equity was 17.0 per cent. 

“We delivered a strong set of results for the first half despite the challenging environment. Our ability to manage the balance sheet nimbly, grow deposits and capture market opportunities helped offset the external pressures,” DBS chief executive Tan Su Shan said.

“Return on equity was 17 per cent even after the impact of the global minimum tax, reflecting the benefit of our investments to deepen customer relationships across wealth management and corporate banking,” she said.