Net income, excluding one-time items, dropped 10% to S$2.36 billion (US$1.85 billion) in the three months ended Dec 31, Southeast Asia’s largest lender said in a statement today.

That compared with the S$2.57 billion average estimate of analysts surveyed by Bloomberg.

The bank said its total dividend will be 81 Singapore cents for the quarter.

DBS said it plans to continue its capital return dividends of 15 Singapore cents a share per quarter for financial years 2026 and 2027, barring unforeseen circumstances.

“While rate pressures and geopolitical tensions are expected to persist, the quality of our franchise and strong balance sheet provide a solid foundation for the year ahead,” CEO Tan Su Shan said in the statement.

She’s expecting 2026 net profit to be slightly below 2025 levels.

DBS is the first Singapore lender to report results, and is the only one among the three local banks that pays quarterly dividends.

United Overseas Bank Ltd and Oversea-Chinese Banking Corp are set to announce earnings later this month.