0359 GMT - DBS Group's wealth franchise is likely to support stronger long-term growth, says Morningstar's Kathy Chan in a note. The decline in the Singapore lender's 4Q pretax profit was well within her base-case view as Morningstar has been factoring in normalizing net interest margins and fee income growth. The analyst expects high-single-digit growth in net fee income, as strong assets under management and net new money growth could boost wealth-management fees. DBS is also able to mitigate margin pressure by deploying surplus deposits into high-quality liquidity assets, she adds. Morningstar raises its fair-value estimate to S$50 from S$48, noting the lender's shares are slightly overvalued. Shares fall 0.6% to S$57.82. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

February 09, 2026 22:59 ET (03:59 GMT)

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