Singapore, Jan 22, 2026, 14:49 SGT — Regular session
- DBS shares held steady in afternoon trading while Singapore stocks edged higher.
- A broker upgrade sparked a rally in peer UOB, keeping the sector in the spotlight.
- Traders are bracing for DBS’ Feb 9 earnings, hunting for hints on 2026 margins and dividend plans.
Shares of DBS Group Holdings Ltd ticked up 0.1% to S$58.08 by early afternoon in Singapore, following a 0.2% drop Wednesday. Trading volume hit roughly 2.1 million shares, according to MarketScreener data. (MarketScreener)
Singapore’s banks continue to dominate the local index, making this move significant as traders seek an edge ahead of earnings season with little new company news to work from. The Straits Times Index climbed almost 0.6% in early trading, according to The Business Times. (The Business Times)
For DBS, the focus isn’t on today’s trading but what the upcoming results reveal about 2026. Investors are scanning for signs that cheaper funding and loan growth might cushion the blow from falling rates, while fee income holds steady.
UOB grabbed the spotlight this morning. Shares jumped 2.2% to S$37.58 in early trading after Macquarie upgraded the bank to “outperform,” The Business Times reports. Macquarie analyst Jayden Vantarakis noted, “Lower rates are a double-edged sword, pressuring revenues in FY2026 but benefiting valuations.” The bank is set to release its full-year results on Feb 24. (The Business Times)
OCBC edged higher as well, last seen up 0.6% at S$20.56. On Thursday, shares fluctuated between S$20.48 and S$20.59, according to SGinvestors data. (SG Investors)
DBS operates commercial banking and financial services across Asia via its core unit, DBS Bank. Its activities cover consumer banking, wealth management, and institutional banking, according to a Reuters company profile. (Reuters)
Traders are zeroing in on guidance now, not just the headline profit. Loan growth and fee income are key, as is provisions—the cash banks reserve for possible loan losses. Net interest margin, the gap between earnings on loans and the cost of deposits, also draws close attention since it can swing rapidly with rate changes.
But here’s the rub. Should rate cuts arrive sooner than anticipated, margins could tighten more quickly, sending shares into trouble despite stable credit quality. A dip in fee income or an unexpected spike in provisions would challenge how much optimism the market has already baked in.
DBS will release its full-year 2025 results ahead of trading on Monday, Feb 9, according to a company statement. (Sgx)
