DBS Delivers Stable Profit in Tan Su Shan’s CEO Debut
Profits at DBS were stable in the first three months of Tan Su Shan’s reign as the Singapore lender’s new chief executive officer.
DBS’ net profit for the first half of 2025 was flat at S$5.7 billion ($4.4 billion), according to the bank’s financial results.
Total income increased 5 percent year-on-year to S$11.6 billion as net interest income, fee income and treasury customer sales reached record levels. Expenses were also up 5 percent to S$4.5 billion, led by higher staff costs. Allowance for credit and other losses totalled S$458 million compared to S$283 million during the same period in 2024.
Second-Quarter Results
On March 28, Tan Su Shan became the CEO of the bank, succeeding Piyush Gupta who held the role for 16 years. In the second quarter of the year – or Tan's first three months on the job – the bank posted a net profit of S$2.8 billion, up 1 percent. Income and expenses both rose 5 percent to S$5.7 billion and S$2.3 billion, respectively.
«We delivered a strong set of results for the first half despite the challenging environment. Our ability to manage the balance sheet nimbly, grow deposits and capture market opportunities helped offset the external pressures,» commented Tan.
«While external uncertainties remain, we have opportunities ahead of us. Our proactive management of the balance sheet puts us in a good position to navigate the interest rate cycle, while strong capital and liquidity ensure we are well placed to support customers.»
