NPL rate Presentation: Sustained growth in recurring income businesses

6 Asset quality, credit ratings among the best in Asia; DBS well-positioned for continued growth ƒ Asset quality one of the best among Asian banks ƒ

2.2 NPL rate

ƒ 94 Provision coverage ƒ Strong credit ratings, balance sheet ƒ Moody’s Aa2, SP’s and Fitch’s AA- credit ratings among highest of banks competing in Asia-Pacific ƒ Tier 1 ratio: 10.6 ƒ Overall CAR: 14.7 7 Board of Directors reaffirmed policy of sustainable, progressively increasing dividends ƒ Second Quarter 2005 dividend of 15 cents per share, up from 11 cents for First Quarter 2005 ƒ Total dividends of 26 cents per share for First Half 2005, up 44 from 18 cents per share a year-ago ƒ Dividend policy reflects confidence in earnings prospects, ability to fund future growth, expansion 8 Business strategy delivering sustained growth ƒ Improved asset mix, growing recurring income, repaired asset quality ƒ Ten consecutive quarters of loan growth ƒ Net interest income highest in 14 quarters ƒ Record quarterly fee income ƒ Customer franchise across the region delivering stronger bottom-line results ƒ Rebalanced, more diversified business mix and earnings helped offset lower treasury earnings Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents. July 29, 2005 Sustained growth in recurring income businesses DBS Group Holdings 1H 2005 Financial Results Presentation to Media and Analysts This presentation is available at www.dbs.cominvestor 10 Sustained growth in recurring income businesses T Strong, broad-based growth in customer businesses T Mixed regional performance T Asset quality and capital efficiency further enhanced 11 Higher operating profit as income rises faster than expenses change 1Q 2005 2Q 2005 2Q 2004 change 670 408 1,078 265 246 511 567 63 412 - 412 695 397 1,092 253 247 500 592 81 441 - 441 659 410 1,069 232 262 494 575 14 454 110 344 5 3 2 9 6 1 3 479 3 100 28 4 3 1 5 2 4 29 7 - 7 a Sm Net interest income Non-interest income Operating income Staff costs Other operating expenses Operating expenses Operating profit Provisions Net profit before goodwill Goodwill amortisation Net profit a Excluding one-time gains of 497m 12 Half-year operating profit up 7 from 2H04 Sm 1,299 1,046 2,345 488 522 1,010 1,335 65 1,046 220 826 1,365 805 2,170 518 493 1,011 1,159 144 853 - 853 5 23 7 6 6 13 122 18 100 3 change 2H 2004 1H 2005 1H 2004 change 1,293 836 2,129 506 540 1,046 1,083 2 884 220 664 6 4 2 2 9 3 7 nm 4 100 28 a Net interest income Non-interest income Operating income Staff costs Other operating expenses Operating expenses Operating profit Provisions Net profit before goodwill Goodwill amortisation Net profit nm : not meaningful a Excluding one-time gains of 497m 13 Key quarterly ratios improve from 1Q 2Q 2004 2Q 2005 1Q 2005 1H 2005 2H 2004 a Net interest margin Non-interest incometotal income Costincome ROE Loansdeposits Loan + non-trading debt securities deposits NPL ratio 1.80 36 46 10.4 68 89

2.2 1.78