DBS Group Holdings (D05.SI) surged 3.00% during Thursday's intraday trading session, as investors reacted to the bank's record-breaking second-quarter earnings and an upgraded full-year guidance.

The rally was fueled by DBS's announcement of a record quarterly net profit of S$3.08 billion, up 9% year-on-year and beating analyst estimates of S$2.88 billion. Total income climbed 6% to an all-time high of S$6.09 billion, driven by a 25% jump in net fee income and a 42% surge in wealth management fees to a record S$919 million. The bank's wealth management division saw assets under management surpass S$500 billion for the first time, reaching S$516 billion. While net interest margin narrowed to 1.87% amid a softer rate environment, robust loan growth and proactive hedging helped cushion the impact.

Adding to the positive sentiment, CEO Tan Su Shan raised the bank's full-year 2026 guidance, with total income now expected to exceed 2025 levels and commercial book non-interest income growth lifted to the mid-teens range. The board also declared a total dividend of 81 Singapore cents per share, up from 75 cents a year earlier. Citi analyst Tan Yong Hong maintained a buy rating on the stock, noting the results were driven by strong operational performance, though flagging some one-off items.