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LATEST ARTICLES
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The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.
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For its impressive commitment to this issue in the country, DBS wins the award for Taiwan’s best for sustainability.
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DBS wins the award for Taiwan’s best international private bank in recognition of the quality of its services and its leading market position in the country.
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DBS wins the award for Singapore’s best domestic private bank for the second consecutive year in recognition of its regional expertise, as well as the strength and sophistication of its wealth management offering.
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DBS wins the award for its strength and innovative leadership in serving family office clients in Singapore.
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DBS wins the award for its expertise in succession planning.
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DBS wins this award for the strength and sophistication of its digital solutions.
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DBS wins this award for best international private bank in Hong Kong in recognition of the quality and breadth of its services and its distinctive regional expertise.
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With Singapore's ascent to a prominent hub for family offices in Asia, DBS has made quick work of establishing itself as a leading player in the region.
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This year, DBS has been named Asia’s best private bank for high-net-worth individuals, a testament to its innovative approach in this competitive wealth-management sector.
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In a year that has seen Asia's financial institutions face mounting pressures from geopolitical headwinds, DBS retains its mantle as Asia’s best private bank 2024. This award comes in tandem with two other regional honours: best for family office services and best for high net-worth (HNW) individuals. Its managing director and group head is Joseph Poon.
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Competition in the high net-worth category is fierce: every private bank targets HNW customers, with the aim of making as many as possible of them long-term customers.
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In 2023, Singapore attracted S$12.7 billion ($9.43 billion) in fixed asset investments, amid a challenging global environment, according to data from the country’s economic development board. The previous year it was even higher, at S$22.5 billion.
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It has become fashionable to describe private credit as an opaque and fast inflating bubble that could bring crisis to the global financial system. But in Asia even banks and regulators hope it will grow to bridge the yawning financing gap.
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Singapore’s DBS Bank has spent the past decade transforming itself into one of the world’s best digital banks. But a series of lengthy service outages over the past year has wrongfooted senior management, who have been left to issue apologies and pledge to do better.
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With a presence in 19 markets globally, including Singapore, Hong Kong, China, India and the US as well as Europe, DBS delivered a record total income of S$16.5 billion ($12 billion) in 2022, a 20% increase in net profits to S$8.19 billion, return on equity of 15% and S$20.5 billion in sustainable financing loans.
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Singapore is Asia’s leading private banking hub – and at the heart of that story is DBS, a bank that has remade itself over the past decade and a half into one of the world’s best wealth managers.
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Analysts tracking the trajectory of Asian wealth and trends around gross domestic product are free to peruse government data, surveys and all available reports. Yet some of the most telling clues as to what is going on in this fast-growing region can be found inside the balance sheet of DBS Private Bank.
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DBS, JPMorgan and Japan’s SBI combined to launch a groundbreaking decentralized finance trade stewarded by the Monetary Authority of Singapore. It was a great deal of work, but to what end?
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The Singaporean bank has launched sector-specific decarbonization commitments it says are industry-leading. For them to be achieved, the bank’s corporate client base is going to need to make changes, too.
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More awareness by corporates of the role played by small suppliers has boosted early payment programmes.
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Always a strong player in small and medium-sized enterprise banking, DBS enjoyed a stellar year driven by digital investments, careful credit management and great progress in India.
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Best Bank: DBS Bank
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The wealth management award is in some measure a decision about a model as much as a bank. For the last few years, we have tended to reward the big Swiss houses, UBS and Credit Suisse, who have scale, history and the advantages of being part of a larger bank. In other years, we might consider the Swiss pure-play model, the ultra-high net-worth-only model, the mass-affluent approach.
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The bank is successfully exporting its SME expertise and advanced financial technology across Asia.
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DBS has taken the boldest step yet in digital DCM, encouraging corporate and financial borrowers to self-issue commercial paper direct to investors. Volumes are strong. The next step, longer-dated bonds, will come soon.
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The blockchain-based cross-border payments platform will operate across 15 countries.
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DBS’s purchase of Citi’s local consumer business in January was a timely reminder of Taiwan’s allure. Yes, the island lies on a geopolitical fault line and the banking sector is crowded. But it’s also profitable and now welcomes digital disruption.
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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.
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Of all the 13 consumer businesses on the block in Citi’s Asia revamp, Taiwan was the most prized. DBS’s successful bid bolsters an already profitable business – and doing so required some hard thinking about geopolitics by the Singapore bank’s board.