09-06-2025
DBS Breaks US$100 Billion Barrier, Becomes Singapore's First Bank To Hit Milestone
DBS Group Holdings Ltd has become the first Singapore-based bank to cross the US$100 billion mark in market capitalisation, bolstered by a rally in its share price and a strengthening Singapore dollar.
Shares of Southeast Asia's largest lender rose as much as 0.8% on June 9 to S$45.50, pushing its market value to S$129 billion (US$100.2 billion).
The stock has gained 4.3% so far in 2025, with much of the appreciation amplified in US dollar terms due to a 6% rise in the Singapore dollar against the greenback.
The milestone comes on the heels of robust financial performance and investor confidence. Singaporean banks, including DBS, have committed to returning billions in surplus capital to shareholders following record earnings in 2024. DBS' gains were driven by higher lending activity and wealth management fees.
Tan Su Shan, who succeeded longtime Chief Executive Officer Piyush Gupta in March, said during her debut earnings call that the bank is positioning itself to capture value from supply chain shifts and increasing demand for foreign exchange hedging services.
DBS is also strengthening its foothold in private banking. According to Asian Private Banker, it remains the third-largest wealth manager in Asia outside mainland China. The bank recorded S$21 billion in net new money last year, marking its third consecutive year of inflows above S$20 billion. Related
