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DBS Group Holdings Ltd.

Company Background

DBS Group Holdings was originally incorporated as The Development Bank of Singapore in 1968. It started as a financing institution for Singaporean companies and urban development projects. As the bank grew to include overseas divisions in China and Southeast Asia, the name was officially changed to DBS in 2003 to reflect its role as a regional bank. Its largest minority shareholder is Singapore state investor Temasek Holdings. The group has Singapore's largest network of over 2300 branches and self-service banking machines and also holds the leading domestic market share in the nation's banking sector.

CEO and director Piyush Gupta has led the group since 2009. Prior to joining DBS, Gupta was CEO of Citigroup's Southeast Asia, Australia and New Zealand operations. Under Gupta's leadership, DBS is undergoing expansion both across the region and at home. In 2014, DBS acquired Societe Generale's private banking business in Singapore and Hong Kong for $220 million, strengthening its wealth management business which targets millionaires in Asia. DBS was also the first Singaporean bank to incorporate in China in 2007. It now has branches in 10 major Chinese cities, as well as 50 branches in Hong Kong.

Business Summary

DBS Group Holdings Ltd. is an investment company, which provides retail, small and medium-sized enterprise, corporate, and investment banking services. It operates through the following business segments: Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets, and Others. The Consumer Banking/Wealth Management segment provides services including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products. The Institutional Banking segment offers financial services and products to institutional clients. The Treasury Markets segment deals with structuring, market-making, and trading across a broad range of treasury products. The others segment covers activities from corporate decisions and income; and expenses not attributed to the business segments described. The company was founded in 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2022 SGDUSD
Gross Profit----
Operating income9,172M6,651.24M
Income before tax9,175M6,653.42M
Net income8,108M5,879.66M
Diluted EPS3.152.28
Dividends Per Share1.501.08
Total Assets743,625M554,447.49M
Total liabilities688,945M513,678.03M
Total equity54,495M40,631.52M
Operating cash flow9,763M7,079.82M
Currency in SGDCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 18,402M 21,032M 18,191M 16,662M 22,091M
Gross Profit -- -- -- -- --
Operating income 6,567M 7,577M 5,360M 7,763M 9,172M
Income before tax 6,659M 7,583M 5,368M 7,780M 9,175M
Net income 5,491M 6,299M 4,606M 6,696M 8,108M
EBITDA -- -- -- -- --
Diluted EPS 2.14 2.46 1.81 2.61 3.15
Dividends Per Share 1.20 1.23 0.87 1.20 1.50
Total Assets 550,914M 579,108M 650,132M 686,306M 743,625M
Total liabilities 503,851M 529,318M 598,890M 630,984M 688,945M
Total equity 46,233M 48,972M 51,225M 55,134M 54,495M
Operating cash flow 6,939M 7,149M 6,148M 5,720M 9,763M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 13,638.15M 15,417.12M 13,187.74M 12,398.60M 16,019.70M
Gross Profit -- -- -- -- --
Operating income 4,866.95M 5,554.18M 3,885.78M 5,776.63M 6,651.24M
Income before tax 4,935.13M 5,558.57M 3,891.58M 5,789.28M 6,653.42M
Net income 4,069.50M 4,617.36M 3,339.16M 4,982.65M 5,879.66M
EBITDA -- -- -- -- --
Diluted EPS 1.59 1.80 1.31 1.94 2.28
Dividends Per Share 0.88 0.90 0.63 0.89 1.08
Total Assets 404,192.22M 430,675.62M 491,909.33M 509,072.42M 554,447.49M
Total liabilities 369,663.24M 393,647.40M 453,138.10M 468,036.93M 513,678.03M
Total equity 33,920.02M 36,419.88M 38,758.36M 40,896.04M 40,631.52M
Operating cash flow 5,142.65M 5,240.44M 4,457.05M 4,256.39M 7,079.82M

Valuation Measures

Dec 2022
Operating margin41.51%
Profit margin36.70%

Key executives

  • Chief Executive Officer & Director: Piyush Gupta
  • Group Chief Information Officer & Head-Operations: Jimmy Ng
  • Chief Financial Officer: Sok Hui Chng
  • Joint Secretary, MD & Head-Legal: Chee Kin Lam
  • Chief Investment Officer & Consumer Banking: Wey Fook Hou


  • Temasek Holdings Pte Ltd. (Investment Company) (28.7%)
  • Capital Research & Management Co. (World Investors) (1.8%)
  • The Vanguard Group, Inc. (1.8%)
  • BlackRock Fund Advisors (1.4%)
  • Norges Bank Investment Management (1.3%)
  • Capital Research & Management Co. (Global Investors) (1.2%)
  • Harding Loevner LP (0.7%)
  • Davis Selected Advisers LP (0.6%)
  • Schroder Investment Management (Singapore) Ltd. (0.5%)
  • Lee Foundation (0.4%)

Contact Details

  • Website:
  • Address: Marina Bay Financial Centre, 12 Marina Boulevard, Singapore, 018982, Singapore
  • Phone: +65.6878.8888

Related Companies

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  • DBS Group (HK) Ltd.
  • Royal Bank of Scotland Group PLC /Indian Onshore Ops/
  • Dbs Vickers Securities Malaysia Pte Ltd.
  • La Eau Enterprises (H.K.) Ltd.
  • DBS Bank Ltd. (Bangalore Branch)
  • DBS Bank (Taiwan) Limited
  • Royal Bank of Scotland Group Plc /CN Retail & Commercial Ops/
  • Bowa Commercial Bank Ltd. /Good Bank Assets/
  • Spinnaker CDO Ltd.
  • Development Bank of Singapore Ltd. (Labuan Branch)
  • DBS Realty Pvt Ltd.
  • Red Orchid Secured Assets Ltd.
  • Singa Secured Assets Ltd.
  • Vanda Secured Assets Ltd.
  • Vickers Ballas Holdings Ltd.
  • Network for Electronic Transfers (Singapore) Pte Ltd.
  • DBS Capital Funding Corp.
  • DBS Bank Ltd.
  • DBS Group Holdings Hong Kong Ltd.
  • DBS Capital Investments Ltd.


    Last Updated on 26 May, 2023

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