Singapore’s three largest banks — DBS Group Holdings Ltd (SGX: D05), United Overseas Bank Ltd (SGX: U11), and Oversea-Chinese Banking Corporation Limited (SGX: O39) — have reported their results for the first quarter of 2025. Together, they make up more than half of the Straits Times Index (SGX: ^STI). Here’s a quick look at how each bank performed.

1. DBS Group (SGX: D05)

Reported: 8 May 2025 DBS reported a net profit of S$2.9 billion, down 2% year on year. The dip was largely due to the implementation of the 15% global minimum tax, which raised the group’s tax expenses. Still, the bank beat analyst expectations of S$2.87 billion, according to Bloomberg. Despite the dip in profit, DBS achieved record total income of S$5.91 billion, up 6% year on year, and a record pre-tax profit of S$3.44 billion. Return on equity (ROE) remained strong at 17.3%. Net interest income (NII) rose 2% as balance sheet growth offset a nine-basis-point decline in net interest margin (NIM) to 2.12%.  ...