DBS: First Singapore-Listed Firm to Hit $100 Billion Value
DBS has become the first company listed in Singapore to reach $100 billion in market capitalization.
A weaker dollar has allowed DBS to become the first Singapore-listed company to reach a market value of $100 billion. It is currently trading at around S$45 ($35) per share with a market capitalization of over S$129 billion. Year-to-date, the Singapore dollar has strengthened around 6 percent against the US dollar.
According to data compiled by Bloomberg, DBS is ranked 22nd amongst global banks by market value.
Outperformance Driven by Wealth
DBS’ share performance is believed by some analysts to be driven in no small part by its wealth management unit. The business has seen assets under management reach S$432 billion and the bank has announced ambitions to further grow this to S$500 billion by the end of 2026.
«A lot of DBS’s outperformance has been due to the larger growth of its wealth management, which is really starting to challenge top players in Asia,» said a Morningstar note authored by senior analyst Michael Makdad. «Despite Trump’s tariffs, the environment remains relatively benign for Singapore banks which are increasing share dividends and buybacks more than we would’ve expected a year ago.»
