Singapore, Jan 22, 2026, 14:49 SGT — Regular session
- DBS shares remained flat in afternoon trading as Singapore stocks inched upward.
- A broker upgrade sent peer UOB surging, putting the sector back in focus.
- Traders are gearing up for DBS’ earnings report on Feb 9, eager for clues on margins and dividend strategies for 2026.
Shares of DBS Group Holdings Ltd edged higher by 0.1% to S$58.08 early afternoon in Singapore, after slipping 0.2% on Wednesday. Trading volume stood at about 2.1 million shares, MarketScreener data showed.
Singapore’s banks remain the driving force behind the local index, pushing the Straits Times Index up nearly 0.6% in early trade. This shift carries weight as traders hunt for an edge ahead of earnings season, with few fresh company updates to guide them. The Business Times reports on the move.
DBS isn’t fixated on today’s trading. Instead, investors are zeroing in on upcoming results for clues about 2026. They want to see if cheaper funding and loan growth could offset pressure from falling rates, with fee income staying stable.
UOB took center stage this morning, with shares surging 2.2% to S$37.58 in early trade. The move follows Macquarie’s upgrade to “outperform,” according to The Business Times. Analyst Jayden Vantarakis pointed out that “Lower rates are a double-edged sword, pressuring revenues in FY2026 but benefiting valuations.” The bank is scheduled to report full-year results on Feb 24. The Business Times
OCBC ticked up, last checked at S$20.56, a 0.6% gain. On Thursday, its shares swung between S$20.48 and S$20.59, per SGinvestors data.
DBS runs commercial banking and financial services throughout Asia through its main arm, DBS Bank. Its operations span consumer banking, wealth management, and institutional banking, according to a Reuters company profile.
Traders are focusing on guidance now, beyond just the headline profit. Loan growth and fee income matter, along with provisions—the cash banks set aside for potential loan losses. Net interest margin, the spread between loan earnings and deposit costs, also grabs attention because it can shift quickly with rate moves.
But here’s the catch. If rate cuts come sooner than expected, margins could shrink faster, putting pressure on shares even if credit quality holds steady. A drop in fee income or a surprise jump in provisions would test the market’s current optimism.
DBS is set to announce its full-year 2025 results before the market opens on Monday, Feb 9, the bank confirmed in a statement.
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