DBS Wealth Management Fees Rise 9% Despite Profit Decline

DBS wealth management fees rose 9% year-on-year to SGD864m (USD670m) in the third quarter of 2026, supported by higher assets under management despite weaker group earnings.

Southeast Asia's largest lender by assets reported a 5% fall in net profit to SGD2.81bn, missing analysts' expectations as volatile markets hurt trading activity.

Markets trading income plunged 65% to SGD152m amid unfavourable equity conditions, while net interest margin narrowed nine basis points to 1.87%.

Net fee income nevertheless increased 6% to SGD1.43bn. Chief executive Tan Su Shan warned of a more uncertain global outlook amid elevated energy prices, higher interest rates and geopolitical risks.

DBS expects total income to grow at a mid-single-digit rate in 2027. The results underline the contribution of private wealth services even when other banking revenue streams come under pressure.