Record Full-Year Pre-Tax Profit and Strong Returns
Pre-tax profit rose to a record SGD 13.1 billion for FY2025; full-year net profit was SGD 11.0 billion. Return on equity was 16.2% and return on tangible equity was 17.8%.
Record Total Income and Net Interest Income
Total income increased 3% to a record SGD 22.9 billion. Group net interest income reached a new high of SGD 14.5 billion, modestly higher year-on-year despite a challenging rate environment.
Exceptional Deposit Growth
Total deposits grew by SGD 64 billion or 12% in constant currency for the year — the largest absolute increase in the bank's history — with over two-thirds of the increase in CASA; quarterly deposits rose SGD 16 billion (3% in constant currency).
Wealth Management Outperformance
Wealth Management was a key growth driver: full-year segment income up 9% to SGD 5.68 billion; assets under management grew 19% in constant currency to SGD 488 billion; net new money inflows were SGD 39 billion for the year (up 21% YoY) and SGD 12 billion in Q4.
Strong Fee and Treasury Customer Income
Fee income rose 18% (SGD 730 million) to a record net SGD 4.90 billion; gross fee income rose 15% to SGD 5.86 billion. Treasury customer sales grew 14% to a new high of SGD 2.14 billion.
Markets Trading Recovery
Markets trading income increased 49% (SGD 452 million) to SGD 1.37 billion — the highest level since 2021 — driven by lower funding costs and a more conducive trading environment.
Prudent Capital and Liquidity Positions
Transitional CET1 ratio was 17.0% (fully phased-in 15.0%); leverage ratio 6.2%. Liquidity coverage ratio was 155% and net stable funding ratio was 117%, both well above regulatory minima.
Shareholder Returns Increased
Board proposed a Q4 final dividend of SGD 0.81 per share (SGD 0.66 ordinary, up SGD 0.06, plus SGD 0.15 capital return). Total dividends for the year were SGD 3.06 per share (SGD 8.68 billion), a 38% increase YoY; capital return of SGD 0.15 per quarter planned through 2026–27.
Controlled Costs and Efficiency
Expenses were tightly managed: full-year expenses up 4% to SGD 9.25 billion with cost-to-income ratio unchanged at 40%. Q4 operating expenses declined ~1% to SGD 2.37 billion.
CSR and One-Time Provisions for Community Support
One-time allocation of SGD 100 million from 2025 profits toward a 10-year CSR commitment (up to SGD 1 billion); cumulative CSR contribution since 2023 is SGD 300 million.