LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
Apple Develops China-Specific AI Model With Alibaba as Apple Intelligence Launch Nears 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Alphabet’s SpaceX Investment Soars 100-Fold to $94 Billion 
Micron Stock Upgraded to Buy as New Street Sees $2 Trillion Valuation Potential 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Stripe, Advent Reportedly Pursue $53 Billion PayPal Takeover 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Add as a preferred source on Google
Singapore's DBS Group reported a record second-quarter profit and raised its full-year guidance after strong business momentum and robust growth in wealth management helped offset pressure from lower interest rates. The bank's latest results highlight its resilience despite a softer rate environment, reinforcing its position as Southeast Asia's largest lender.
DBS posted second-quarter net profit of S$3.08 billion, a 9% increase from the same period last year. Total income climbed 6% to a record S$6.09 billion, marking the first time the bank's quarterly income has exceeded S$6 billion. Although net interest income slipped 2% to S$3.58 billion due to lower benchmark interest rates, proactive hedging strategies and continued balance sheet expansion helped cushion the decline.
Non-interest income delivered a strong performance, with fee income surging 25%. Wealth management fees jumped 42%, reflecting growing customer demand, while treasury customer sales reached a record level. Markets trading income also rose 12%, contributing to the bank's overall earnings growth.
Following its solid first-half performance, DBS now expects full-year total income to surpass 2025 levels. The bank also anticipates that group net interest income will come closer to last year's performance, assuming interest rates remain near current levels. In addition, DBS upgraded its forecast for commercial book non-interest income growth to the mid-teens, supported by continued strength in wealth management. Deposit growth is expected to remain in the high single digits.
Asset quality remained healthy during the quarter. The non-performing loan ratio held steady at 1.0%, while total allowances for credit losses declined 15% from a year earlier. DBS also maintained a strong capital position with a Common Equity Tier 1 (CET1) ratio of 16.6%, providing flexibility for future growth and shareholder returns.
For the first half of the year, DBS recorded a net profit of S$6.01 billion, up 5% year over year, supported by record fee income and solid loan and deposit growth. The bank declared a second-quarter interim dividend of 66 Singapore cents per share, along with a capital return dividend of 15 Singapore cents per share, underscoring confidence in its financial strength and long-term outlook.
