- Consistent Delivery – DBS (SGX:D05)'s 1Q26 core-earnings were in-line with MIBG and ahead of Street. Amidst high levels of macro uncertainty, DBS’ scale, capital and increasing AI integration gives the Group strong positioning to leverage opportunities.
- - Read this at SGinvestors.io -
- Asset quality remains a key focus, but the balance sheet carries sizable buffers. These contribute to strong DBS's dividends visibility in the medium term.
NoII engines firing. Scale delivering critical edge
- - Read this at SGinvestors.io -
- With S$492bn in AUM, we believe DBS’ wealth management platform scale give it a significant advantage in capturing incremental flows. Other fees also have potential to surprise positively, especially transaction banking (from new mandates) and IB&A (from supportive markets).
- Continued volatility should drive upside risks to trading income – which surprised positively in 1Q. Overall, we forecast NoII to expand 8.8% y-o-y in FY26E.
Lower downside for NII, asset quality thus far
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Thilan Wickramasinghe Maybank Research | https://www.maybanktrade.com.sg/ 2026-05-01
Previous report by Maybank:
2026-02-09 DBS Group - Franchise Winner With High Capital Returns & ROE Visibility.
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
