EarningsQ2 2026 Earnings Report
DE:DEV Q2 2026 EPS Results
Actual EPS€2.90
Consensus EPS€2.70
Beat/MissBeat by +€0.20
One Year Ago EPS€2.63
DE:DEV Q2 2026 Revenue Results
Actual Revenue€12.63B
Expected Revenue€3.98B
Beat/MissBeat by +€8.65B
YoY Revenue Growth+0.74%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
DE:DEV Upcoming Earnings
DBS Group's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:DEV Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasizes multiple record outcomes — including record net profit, record total income and wealth AUM — and strong growth in fee income, treasury customer sales and trading income, supported by disciplined costs, resilient asset quality and solid liquidity/capital metrics. Offsetting these positives are persistent net interest income pressure from lower rates, modest expense inflation, capital ratio effects from capital returns and RWA growth, and macro/regulatory uncertainties (including China policy changes and geopolitical volatility). Overall, the results demonstrate robust franchise strength and successful diversification into fee and customer-driven income, while management remains cautious on NII and external risks.Company Guidance
Record Quarterly and Half-Year Profit
Net profit reached a record $3.08 billion in Q2, up 9% year-on-year; first-half net profit was a record $6.01 billion, up 5% year-on-year.
Total Income Milestones
Quarterly total income crossed $6 billion for the first time, increasing 6% year-on-year in Q2; first-half total income rose 3% to a record $12.0 billion.
Strong Fee and Customer-Driven Non-Interest Income
Net fee income rose 25% year-on-year to $1.46 billion (gross fee income +22% YoY to $1.70 billion); customer-driven non-interest income grew 27% YoY to $2.14 billion; first-half net fees up ~20%.
Wealth Management Momentum and AUM Growth
Wealth segment total income up 26% YoY to a record $1.71 billion; wealth AUM reached a record $516 billion, up 17% YoY and 5% QoQ; net new money was $11 billion for the quarter.
Record Treasury Customer Sales and Commercial Non-Interest Income
Treasury customer sales rose materially (noted +33% YoY to $678 million in one line and commercial-book other non-interest income rose 30% YoY to $681 million), contributing to commercial non-interest income strength.
Improved Trading and Markets Performance
Markets trading income strengthened 12% YoY to $469 million and rose 21% quarter-on-quarter (driven by equity derivatives), with customers trading income up 10% for the first half to $858 million.
Resilient Asset Quality and Allowance Coverage
NPL ratio stable at 1.0%; non-performing assets little changed at $4.76 billion; specific allowances remained below through-cycle average at 16 bps of loans (Q2) and 15 bps (H1); total allowance reserves $6.20 billion and allowance coverage 130% (196% including collateral).
Strong Liquidity, Capital and Shareholder Returns
Deposits grew (Q2 +1% to SGD 638bn; H1 +4%), liquidity coverage ratio 142% and NSFR 113%; CET1 ratio 16.6% (transitional) and 14.6% (fully phased); board declared total dividend $0.81 per share (ordinary $0.66 + $0.15 capital return), annualized yield ~4.4%.
Cost Discipline and Efficiency
Expenses were tightly managed: Q2 operating expenses rose only 3% YoY to $2.35 billion with cost-to-income ratio improving to 39%; H1 expenses up 4% to $4.65 billion.
Innovation and Strategic Firsts
Bank executed strategic innovations: first Singapore-headquartered synthetic securitization (SRT) to recycle capital, tokenized physical gold product, and appointment as an RMB clearing bank — supporting product and capital management initiatives.
DE:DEV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed