The Development Bank of Singapore Limited
Headquartered in: Singapore
Did you know?
DBS became the first bank in Singapore to win all the 5 awards at the prestigious Singapore Corporate Awards Ceremony:
- Best Managed Board
- Best CEO
- Best CFO
- Best Annual Report
- Best Investor Relations
These awards reflect the bank’s performance, strong management, and standards of corporate governance.
DBS is headquartered & listed in Singapore. It is one of Asia’s leading financial groups that has operations in almost 18 markets across the globe. This bank was born and bred in Asia, and holds the position as one of the market leaders in the Asian market.
DBS, known as The Development Bank of Singapore Limited, was established in the year 1968. The current name ‘DBS’ was adopted in the year 2003 which reflected its changing role as a regional bank. This bank was initially set up by the Government of Singapore, and the branch located in Marina Bay Financial Centre in Singapore is its headquarters.
DBS has a growing presence in 3 significant Asian regions like Southeast Asia, Greater China, and South Asia. It holds more than 9 million global customers across the 18 markets in which it operates. In order to reach more markets with its industry-wide performance, DBS has been using digital technology & innovation methods to enhance their overall efficiency.
DBS has been named as ‘Safest Bank in Asia’ by the Global Finance for 9 consecutive years starting from 2009 till 2017. It was also recognised as the Bank of the Year, Asia by The Banker, a member of the Financial Times Group. Further, DBS is also known as the ‘Best Bank in Asia-Pacific’ which was identified by Global Finance.
DBS has continued to remain a brand associated with quality products and performance, making sure that their customers get nothing but the best in terms of both services as well as products.
9 employees from DBS bank were selected to take part in UNLEASH 2018 - a global programme which aims to develop implementable, scalable, and innovative solutions towards the Sustainable Development Goals of the United Nations, starting May 2018. All the 9 employees come from different backgrounds and teams who will join 1000 other participants of UNLEASH 2018.
They will work together on the challenges in different sections such as Education, Food, Water, Health, Sanitation, Sustainable Cities and Communities, Energy, Responsible Supply Chain and Consumption, and Climate Action.
DBS is also actively looking to manage its environmental footprint. To help achieve this endeavour, it has a target of powering all of its operations in Singapore using only renewable means of energy by the year 2030. It has already started working towards this goal by installing its own solar energy devices, procuring power from other renewable sources, and by driving the need for energy conservation and efficiency throughout the organization.
Another area in which the bank aims to be more efficient in, is in the sustainable sourcing of the services and products. Since it sources many products and services from more than six thousand suppliers, DBS’ approach includes being responsible in efficient sourcing, complying with all laws and regulations related to this kind of sourcing, and a continual evaluation of its activities and procedures.
This year, DBS Foundation, the first of its kind in Singapore, has awarded grants worth S$1.25 million to 12 social enterprises in Asia as a part of its 2018 Social Enterprise Grant Programme. These social enterprises are committed to engineer social changes and inclusion in a wide range of areas, including environmental protection.
Into its fourth year, the programme has helped bright and idealistic social entrepreneurs come up with innovative solutions over the years to create sustained social impact and change. The foundation aims to help these businesses scale their operations and create social harmony and parity. DBS incubates enterprises and their operations, offers financial assistance, and even acts as a mentor for many.
This Singaporean bank also provides advisory, customised support, funding, and even skilled mentorship to these deserving social enterprises.
According to a press release made by the bank, grants in the range of S$30,000 to S$250,000, have been made this year under the programme. Social entrepreneurs from countries such as India, Taiwan, Hong Kong, Indonesia, and Singapore have benefitted under the programme.
This year, the foundation used criteria such as business innovation, ability of a business to remain scalable and sustainable, and ability to address social needs and champion changes where necessary, to select social enterprises for its grants.
While some organisations, selected under the programme, are addressing issues of food wastage and shortage, some of the others have tried to provide affordable healthcare solutions to people in the underdeveloped regions of the world.
31 August 2018
Recently, DBS Bank has been chosen as the Best Bank in the World by Global Finance Magazine, as a recognition of its relentless digital transformation and innovation efforts over the last few years. Experts believe that high digital penetration along with its ability to provide its customers with steady banking operations, have helped DBS win this prestigious award, the first for a bank in Singapore and Asia.
This comes close on the heels of the bank’s recognition as the World’s Best Digital Bank from Euromoney in July 2018. This is the second time DBS has won the recognition in 3 years.
Joseph D. Giarraputo, the editorial director and publisher of Global Finance, has said that the bank’s efforts to make the customer experience simpler through digital transformation has made it a force to be reckoned with, despite uncertainties and headwinds in the global economy. The bank has also maintained strong financials and has acted as a responsible corporate citizen during the period under consideration.
Experts view DBS’s efforts to embark on a journey tied directly with its efforts to ramp up digitisation and measure it at every step, as the key to its success. As the most valuable company and the largest bank in Southeast Asia, DBS continues to grow at a breakneck speed through technological innovations and process simplifications.
Mr. Piyush Gupta, the chief executive officer of the bank, has said that while client-facing roles such as communications and marketing continue to undergo innovation, administrative roles such as human resource and audits aren’t far behind either.
28 August 2018
The bank won the ‘Special Recognition Award’ at the Singapore Corporate Awards (SCA). As per SCA, the award was conferred to DBS for excelling in corporate governance. Over a 5 year period, DBS has won the award in all 5 categories. In the Singapore Governance and Transparency Index and the ASEAN Corporate Governance Scorecard, the DBS’s performance in different areas such as sustainability & diversity were attested.
18 July 2018
DBS hosted the DBS Asian Insights Conference 2018 which brought together thought leaders from across the world in order to discuss the opportunities & challenges of change in Asia. Since DBS celebrated its 50th anniversary on 16 July 2018, this conference was marked as the jubilee edition. The 4 top economies in the world are expected to belong to Asia by 2030. The objective of this conference was to “Reimagine Asia 2030”. The panel speakers spoke about digital innovation, demographics & consumption.
13 July 2018
The DBS Bank is now globally recognised as ‘World’s Best Digital Bank’ & ‘World’s Best SME Bank’ by Euromoney. This bank became the first bank in Asia to win both 2 awards in the global category at Euromoney Awards for Excellence 2018. DBS beat top competitors such as HSBC and Bank of America to win this award. DBS has won this award for the second time, with the first time being in 2016.
12 July 2018