DBS Group Holdings Ltd Stock (SGX: D05) Outlook on Dec 21, 2025: Record Highs, Big Dividends, and the 2026 Margin Test
SINGAPORE — December 21, 2025 — DBS Group Holdings Ltd (SGX: D05, Reuters: DBSM.SI) ends the week near record territory after touching S$56.00 earlier in December and closing S$54.87 on Friday, Dec 19. The stock is up about +25.5% year-to-date and has become the centre of gravity for Singapore’s “income + quality” investing narrative: high payouts, active capital returns, and a franchise still gaining traction in wealth and transaction banking—even as investors brace for lower interest rates and softer net interest margins in 2026. MarketScreener+2TradingView+2 What’s moving DBS Group stock right now is the collision of three forces: Below is