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DBS (SGX:D05) is slated to announce its 2Q26 results on 6 Aug 2026 (see Earnings Calendar). We expect 2Q26 PATMI to rise by a low-single digit y-o-y on non-II-led growth but earnings could be flattish q-o-q given the higher non-II base in 1Q26. This should bring 1H26 earnings to around 52% of our 2026F PATMI.
- - Read this at SGinvestors.io -
Expect non-II to drive 2Q26 operating income higher y-o-y...
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We expect DBS to post a healthy y-o-y increase in non-interest income (non-II), thanks to higher fees led by wealth management activities. In addition, DBS had a relatively more subdued 2Q25 for fees with both wealth- and loan-related fees down q-o-q, i.e. y-o-y growth would also be aided by a low base effect.
- - Read this at SGinvestors.io -
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On the whole, we estimate 2Q26 non-II could chalk up low double-digit y-o-y growth but q-o-q, we think non-II could be flat.
...and help cushion net interest income (NII) pressure.
- 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/.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2026-07-14
Previous report by RHB:
2026-05-28 DBS - A Core Holding For SG Bank Investors; Stay BUY.
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
