DBS - RHB Research 2025-08-08: Solid Earnings Delivery; Stay BUY

• In our view, DBS (SGX:D05) remains a safe haven for investors to hide out and tide through the continued uncertainties and market volatility. DBS's dividends and capital returns policies provide investors with clear visibility as to the dividend yield that can be expected ahead.
• - Read this at SGinvestors.io -

2Q25 Results In line.

• DBS’s 2Q25 results were in line, as balance sheet growth and hedges put in place has helped the bank post a set of numbers that is relatively more resilient vs peers.
• - Read this at SGinvestors.io -
• 1H25 ROE was 17% (FY24: 18%) while the fully phased-in CET-1 ratio under Basel III reforms was at a solid 15.1% (-10bps q-o-q).
• As expected, an interim dividend of 60 cents (2Q24: S$0.54) and a capital return dividend of 15 cents were declared, bringing total 1H25 dividend to S$1.50 (1H24: 1.08). See DBS's dividend payout dates.

DBS 2Q25 Financials Highlights.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-05-04 DBS - Non-interest Income Lifts 1Q Earnings To A Decent Start.

Previous report by RHB:
2026-02-10 DBS - Can Non-Interest Income Continue To Shine?.

Price targets by 4 other brokers at DBS Target Prices.

Listing of research reports at DBS Analyst Reports.

Relevant links:
DBS Share Price History,
DBS Announcements,
DBS Dividend Payout Dates & Corporate Actions,
DBS News