Total income and net profit reach new highs, ROE at record 19.4%
Loan growth better than recent quarters
Loans increase 1% qoq, driven by a broad-based 3% rise in non-trade corporate loans
Group NIM stable, underlying trends in line with guidance
Commercial book NIM up 2bp qoq despite lower Hibor due to fixed-rate asset repricing; Casa outflows slow from the previous year
Markets Trading's deployment in high-quality assets accretive to net interest income but dilutive to NIM
2
Strong start to the year
Net fee income crosses $1bn for the first time
Wealth management fees rise from stronger market sentiment and an expanded AUM base, card fees from higher spending
Both increases additionally boosted by base effects, including Citi Taiwan consolidation
Treasury customer sales reach new high
Cost-incomeratio at 37%
Expense growth well managed, up 5% yoy ex-Citi Taiwan
Asset quality resilient
NPL ratio unchanged at 1.1%, SP remains low at 10bp of loans
1Q dividend of 54 cents on enlarged share base
3
Notwithstanding MAS decision not to extend 6-month pause on non-essential activities, will continue to focus on technology resiliency
Progress made in executing on technology resiliency roadmap, enabling: o Greater service availability
o Alternate channels for payments and account enquiries should issues occur o Faster full recovery of services
o Greater payments/ transaction certainty for payer and recipient
Several areas remain a work-in-progress
Continued simplification and strengthening of systems architecture
Building deeper expertise in centres of excellence for critical third-party technologies o Broadening use of artificial intelligence to further strengthen change management
o Creating more monitoring tools so as to be able to detect potential issues more quickly
4
Outlook
Geopolitical risks persist, but macroeconomic conditions remain resilient
Group net interest income to be modestly better than 2023 levels
Commercial book non-interest income growth to be in mid-to-high teens percent
Better-than-expectedmomentum in wealth management and treasury customer sales
Total income growth to be 1-2% points above previous guidance of mid-single-digit
Cost-incomeratio to be in low-40% range
SP assumed to normalise to 17-20bp although not seeing stress so far
Net profit to be above 2023 levels
5
CEO observations
DBS Group Holdings
1Q 2024 financial results May 2, 2024
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DBS Group Holdings Ltd is an investment holding company. The Company operates through its subsidiary, DBS Bank Ltd. (the Bank), which is engaged in a range of commercial banking and financial services, principally in Asia. Its segments include Institutional Banking, Consumer Banking/ Wealth Management and Treasury Markets. Consumer Banking/ Wealth Management segment provides individual customers with a diverse range of banking and related financial services. Its products and services available to customers include current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment and insurance products. The Institutional Banking segment provides financial services and products to institutional clients, including bank and non-bank financial institutions, government-linked companies, large corporates and small and medium-sized businesses. Its Treasury Markets segment includes structuring, market-making and trading across a broad range of treasury products.
DBS GROUP HOLDINGS LTD 
