DBS Group Holdings 1Q 2025 Results and Outlook

DBS Group reported a strong start to 2025, achieving record total income and profit before tax in the first quarter. Business growth was robust, particularly driven by wealth management, fees, and markets trading. Despite net profit being slightly lower year-on-year due to the global minimum tax, the bank maintained a high return on equity and resilient asset quality. General allowance reserves were prudently strengthened against heightened uncertainty. • The period saw broad-based business expansion, with a notable surge in a key customer segment • Performance was boosted by a significant uptick in trading activities, reaching their best level in several quarters • The bank proactively increased its protective financial reserves in response to recent external developments