For 2026, DBS expects total income to hover at around 2025 levels. This is in spite of rate headwinds and volatility in the markets. Specifically, DBS is assuming a Singapore Overnight Rate Average (Sora) of 1.25%. It is also forecasting two rate cuts by the US Federal Reserve and for the Singapore dollar to maintain its strength.
Investors hoping that shares for DBS Group Holdings will break the $60 mark were left disappointed after the bank announced earnings that missed estimates.
DBS, on Feb 9, reported a net profit of $11.033 billion for FY2025 ended Dec 31, 2025, 3% lower than FY2024’s net profit of $11.408 billion. The bank’s net profit for 4QFY2025 was $2.358 billion, 10% lower than 4QFY2024’s net profit of $2.622 billion. According to estimates compiled by Bloomberg, the bank was expected to report a full year net profit of $11.375 billion and a 4QFY2025 net profit of $2.6 billion.
