DBS Group Holdings will announce its full-year 2025 financial results before the Singapore market opens on Monday, February 9, 2026. The report comes after the bank's shares eased 0.6% to close at S$59.30 on Friday, retreating from a late-January peak above S$60.
Key Metrics in Focus
Analysts and traders will scrutinize the bank's net interest margin—the spread between loan income and deposit costs—and any updates to its capital return program. In November, DBS reaffirmed an S$8 billion capital return plan running through 2027 but projected 2026 net profit would be slightly below 2025 levels.
The earnings are significant as DBS has relied heavily on interest income and wealth management fees, sectors where supportive rate trends are now cooling. Any shift in the bank's guidance on margins or dividend payouts could sway investor sentiment.
Broader Market Context
The Singapore market softened broadly on Friday, with the Straits Times Index falling 0.8% amid a regional pullback. This cautious tone sets the stage for DBS's release, followed by Singapore's Budget 2026 announcement on February 12. Economists anticipate a more restrained fiscal package this year, with emphasis on technology and innovation investments.
DBS's domestic peers will report later in the month, offering a fuller picture of the banking sector. United Overseas Bank is scheduled to release its results on February 24, followed by Oversea-Chinese Banking Corporation on February 25.
Risks for DBS include faster-than-expected margin compression, weaker loan demand, or a rise in credit provisions. Given the stock's strong run and proximity to recent highs, the dividend trade could be vulnerable to negative surprises.
The immediate catalyst is Monday's results release. Thereafter, market attention will pivot to the national budget and subsequent bank earnings for clues on Singapore's financial sector trajectory in 2026.