DBS Hits Record Profit as Wealth Assets Cross S$500 Billion

Total income for the period climbed 6 per cent to S$6.09 billion, a performance the bank attributed to structural growth in its customer franchise and higher non-interest income. While lower interest rates exerted pressure on net interest income, the impact was largely offset by steady loan and deposit growth alongside active hedging strategies.

CEO Tan Su Shan credited the bank’s robust first-half performance to the sustained momentum of its wealth management arm. Treasury customer sales also hit a record high, underscoring the success of the bank's strategy to diversify revenue streams in a volatile rate environment.