Record-Breaking Revenue and Growth
DBS announced record third quarter profit before tax of $3.48 billion, with ROE at 17.1% and total income reaching a new high of $5.93 billion, driven by wealth management and treasury customer sales.
Strong Deposit and Wealth Management Growth
Deposit growth was $19 billion during the quarter and $50 billion year-on-year, with CASA ratio rising to 53%. Wealth management income grew 13% year-on-year to $1.54 billion, with assets under management reaching a new high of $474 billion.
Successful Mitigation of Interest Rate Impact
Despite lower interest rates, proactive balance sheet hedging and strong deposit growth cushioned the impact, keeping the net interest income resilient.
Digital and Tokenization Initiatives
DBS made advancements in the tokenized ecosystem, including issuing structured notes on the Ethereum blockchain and partnering with Franklin Templeton for digital exchange listings.
Asset Quality and Resilience
Asset quality remained resilient with an NPL ratio stable at 1.0%. Specific allowances were low at 15 basis points of loans for the quarter.