DBS H1 2025 Record Revenue Workforce Cuts | Generated by AI
Here’s what I found for DBS Bank (specifically its parent DBS Group Holdings) for the first half of 2025:
First Half of 2025 Financial Performance
- Total income (i.e., revenue): S$11.6 billion (~US$9.06 billion), reflecting a 5 % year‑on‑year increase and setting a new record for the bank. (Asian Banking & Finance)
- Profit before tax: S$6.83 billion (~US$4.9 billion), up 3 % from the previous year’s first half, also a new high. (Asian Banking & Finance)
- Net profit: S$5.72 billion (~US$4.45 billion), essentially flat compared to H1 2024. (Asian Banking & Finance)
Employee and Contractor Count
- Employees: As of December 31, 2024, DBS Group had approximately 41,000 employees globally. (StockAnalysis)
- Contractors / Temporary Staff: At the end of 2024, DBS had about 8,000 to 9,000 contract or temporary workers. (Fortune)
In total, DBS Group’s workforce—including permanent and contract staff—was approximately 49,000 to 50,000 people at the end of 2024.
Additionally, CEO Piyush Gupta announced plans to reduce the workforce by around 4,000 roles (10%) over the next three years, largely via natural attrition of temporary and contract positions. (Reuters, Business Standard)
Summary (Plain Text, No Tables)
- H1 2025 Total Income (Revenue): S$11.6 billion (~US$9.06 billion), up 5 % YoY
- Profit Before Tax: S$6.83 billion (~US$4.9 billion), up 3 % YoY
- Net Profit: S$5.72 billion (~US$4.45 billion), flat YoY
- Permanent Employees (end-2024): ~41,000
- Contract / Temporary Staff (end-2024): ~8,000–9,000
- Total Workforce (incl. contractors): ~49,000–50,000
- Planned Workforce Reduction: About 4,000 roles (~10%), mainly contract/temporary, over the next three years
Let me know if you’d like insights into quarterly breakdowns, segment-level income, or the upcoming changes in workforce composition.