DBS Group Announces Chairman Transition to Anthony Lim Effective 2027

Singapore's DBS Group said its chairman, Peter Seah, will step down by the end of 2026 after serving since 2010. Board member Anthony Lim, who has been on the board since April 2020, will become chairman on Jan. 1, 2027. Seah will remain with the bank as a senior adviser for one year.

The bank highlighted Seah’s role in guiding its digital transformation and growth in high-return businesses, noting his contribution to the organisation’s culture and heritage. > "I am therefore able to hand over the reins to Anthony with confidence, knowing that DBS is in very capable hands," Seah said.

Lim, a former senior executive at GIC and Bankers Trust with experience in Singapore, London and New York, is described as having a global perspective and strong risk-management expertise to help navigate a complex operating environment.

DBS reported third-quarter 2026 net profit of $2.81 billion, a 5% decline from the same period a year earlier and below the $2.95 billion consensus forecast of eight analysts. For the nine-month period, total income rose 2% to a record $17.9 billion and net profit increased 2% to $8.82 billion. Group net interest income grew 4% year-on-year to $3.71 billion, while net interest margin fell nine basis points to 1.87%.

Fee income also rose, with net fee income up 6% to $1.43 billion and wealth-management fees increasing 9% to $864 million. The board declared a total dividend of 81 cents per share for the quarter, bringing the nine-month dividend to $2.43 per share.

CEO Tan Su Shan said, "We turned in another quarter of strong franchise growth, with robust increases in loans, deposits and wealth assets. Nine-month net profit reached a record and return on equity was 17% despite average SORA having halved from a year ago and heightened geopolitical uncertainty. The performance reflected our ability to capture structural opportunities across wealth management and institutional banking."