By Amanda Lee

DBS Group Holdings is scheduled to report its fourth-quarter and full-year results on Monday. Here is what to watch:

NET PROFIT: Singapore's largest bank is expected to post a 1.2% decline in annual net profit to 11.275 billion Singapore dollars, equivalent to US$8.86 billion, according to the consensus of eight analysts polled by Visible Alpha. Fourth-quarter net profit likely fell 3.8% from a year earlier to S$2.52 billion, according to Visible Alpha. Its nine-month net profit was S$8.675 billion.

REVENUE: The lender's total income last year likely rose 4.1% to S$23.21 billion, according to Visible Alpha. Fourth-quarter total income is expected at S$5.57 billion, up 1.2%, according to Visible Alpha. For the first nine months of 2025, total income was S$17.57 billion.

The stock rose 10% in the latest quarter, bringing last year's gains to 29%. Shares of DBS have hit a series of record highs in recent months, spurred by capital-return prospects and its wealth-management segment, analysts said.

WHAT TO WATCH:

--Fees from wealth management could increase 44% from a year earlier but fall 6% sequentially in the fourth quarter, UOB Kay Hian analyst Jonathan Koh wrote in a note. The mild seasonal pullback was likely cushioned by still-buoyant sentiment in equity markets and continued expansion of assets under management, Koh said.

--The lender's wealth-management outlook is positive, but any abrupt reversal in client risk appetite could affect fee growth, according to Jayden Vantarakis of Macquarie Capital. "This is important as the outlook for net interest income is negative with lower rates," the Asean equity research head wrote in a report.

--The final quarter of the year is a seasonally weak period for DBS. CGS International analysts said they expect to see softness in flow-related income, including management fees, market trading income and treasury customer sales.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

February 05, 2026 03:43 ET (08:43 GMT)

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