Overview

• DBS achieved a record net profit of S$11.4 billion ($8.4 billion) in 2024, driven by growth in fee income, wealth management, and loans.
• The bank announced a final dividend increase to 60 Singapore cents per share and introduced a new quarterly capital return dividend of 15 cents for 2025.
• Employees, excluding senior managers, will receive a one-time S$1,000 bonus in recognition of the bank's strong performance, costing S$32 million in total.
• Outgoing CEO Piyush Gupta highlighted the bank's resilience amid tariff and monetary policy uncertainties, while incoming CEO Tan Su Shan will become the first woman to lead DBS.
• DBS stock hit a record high of S$46.5 following the earnings announcement, with the bank expecting net interest income to slightly exceed 2024 levels despite potential U.S. Federal Reserve rate cuts.