DBS, OCBC Face Weaker Q1 Profits

DBS and OCBC are expected to post weaker Q1 2026 net profits despite gains in wealth management, according to UOB Kay Hian. DBS’ net profit is projected at S$2.83b, down 2% year‑on‑year but 25% higher than Q4. OCBC’s net profit is estimated at S$1.79b, a 5% YoY decline but 3% above Q4.

Weaker profits

Both banks saw growth in treasury customer sales, supported by corporates and high‑net‑worth clients. However, OCBC’s insurance contributions are expected to fall 35% YoY to S$200m due to mark‑to‑market losses. Analysts note mild net interest margin compression remains a headwind.

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