SINGAPORE — DBS Group, the biggest bank in Singapore and Southeast Asia's largest lender by assets, announced a record net profit of S$3.08 billion (US$2.40 billion) for the second quarter of 2026, marking a 9% increase from S$2.82 billion a year earlier. This result surpassed the average analyst estimate of S$2.88 billion, according to LSEG data.

The bank declared dividends of 81 Singapore cents per share for the quarter, comprising 66 cents of ordinary dividends and 15 cents of capital return dividends, up 6 cents from the previous year.

Despite a decline in net interest margin to 1.87% from 2.05% in the same period last year, DBS offset this with strong loan and deposit growth. CEO Tan Su Shan highlighted the strength of the bank's wealth management division, noting that assets under management exceeded S$500 billion for the first time.

DBS raised its full-year guidance, expecting interest rates to remain stable, deposit growth in the high-single-digit range, and a cost-income ratio in the low-40% range. The bank attributed the stronger outlook to its record first-half performance and resilience amid a challenging interest-rate environment.

In the broader banking sector, Asia-focused HSBC reported a 23% rise in first-half pretax profit driven by lending revenue and wealth management fees, while Standard Chartered posted a 9% increase supported by wealth management, markets, and global banking.

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"We delivered a strong set of results for the first half, anchored by the strength of our wealth management franchise," said CEO Tan Su Shan.