The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

DBS receives public rebuke and capital hit over digital outages

The censure from the Monetary Authority of Singapore will sting far more than any capital impact for a bank that prides itself on being a peerless digital innovator.


DBS has received a public slap on the wrist from its regulator, the Monetary Authority of Singapore, after an outage of its digital services in November.

Although there is no fine, the MAS has imposed an additional capital requirement on the bank. DBS is required to apply a multiplier of 1.5 times to its risk-weighted assets for operational risk, equating to an additional S$930 million ($692 million) in additional regulatory capital.

It amounts to an embarrassing, if financially mild, rebuke.

The outages lasted for a 40-hour period from November 23 to 25 and rendered many people unable to access the digital services that have become essential to personal banking at DBS, as at many banks now. The length of the disruption was significant, and MAS noted this in a statement on Monday, February 7.

“MAS noted deficiencies in DBS Bank’s incident management and recovery procedures to restore its digital banking services to a normal state, resulting in the prolonged duration of the disruption,” it said.

The regulator has also ordered DBS to appoint an independent expert (likely a big four consultant, Euromoney understands) to conduct a comprehensive review of the incident, including the bank’s recovery actions.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?