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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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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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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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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.
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Will the bank’s payouts after a phishing scam set a precedent?
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Covid barely dented the strength of the banking system and most banks have been steadily releasing the provisions they took. Euromoney talks to the leaders of our 25 reviewed banks and others about the challenges they face as the world normalizes.
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Piyush Gupta thinks the worst is behind us and now is the time for the bank to start looking at China.
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The digital pioneer’s consumer website and mobile app have been hit by a series of problems.
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A flurry of new services, including DBS Digital Exchange and Climate Impact X, have kept the Singaporean lender in pole position.
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It’s a sign of a well-run bank when it not only survives a pandemic largely unscathed but uses it as an opportunity to gain ground. Characteristically, DBS’s Piyush Gupta not only kept the bank on course but used the crisis to make two potentially transformative acquisitions, launch two new exchanges and think afresh about what banking should look like.
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Singapore’s DBS has unleashed an unlikely new weapon against impersonation scams: a strange blue-haired man called Kim Huat.
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High net-worth individuals once eschewed cryptocurrencies. When Covid hit, many learned to embrace them. They see the danger of endless QE and the returns to be generated in the world of decentralized finance.
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Court documents relating to fraud charges against a young and flamboyant Singapore trader show that most of the country’s banks have had a relationship with him.
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DBS’s digital capability was tested to the core by Covid, and it not only stepped up but turned the situation to its advantage. From consumer to institutional, DBS used the opportunity to convert clients to digital channels, benefiting from improved economics as it did so. Before long the government was counting on the bank to disburse emergency payments to those under stress.
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DBS retains the award for Asia’s best bank for its outstanding response to the Covid-19 crisis.
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As provider to the London Stock Exchange and DBS on digital new issue platforms, Nivaura is laying the foundations for the future of DCM.
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The two banks plus Singapore’s stock exchange and sovereign wealth vehicle believe they have the collective strength and skills to build Climate Impact X, based initially on southeast Asian forestry and mangrove projects.
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DBS’s deal to buy 13% of a young and privately owned bank in Shenzhen highlights not only China’s vast growth opportunities post-Covid but also the potential of the cross-border Greater Bay Area.
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Clubhouse, the San Francisco-based app, is the cool new thing, a unicorn valued at more than $1 billion. On Friday in Singapore, a group of DBS analysts and economists got together on the audio-only platform to discuss the future of electric vehicles. The debate was chatty and inclusive, and a sign of things to come.
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The full-year results of DBS, OCBC and UOB marked the first time in a year the Singaporean banks had attempted to give any kind of media briefing face-to-face.
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OCBC, UOB and DBS are among the first lenders in Asia to report 2020 numbers. They’re in surprisingly good shape.
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The bank’s full-year results for 2020 suggest bad-loan generation is manageable and that brighter times lay ahead – but we still do not know the whole story about borrowers under moratoria.
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DBS has suffered, but its model looks well placed in this environment.
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DBS asked Euromoney to join the machine-learning training it gives to thousands of its employees, which includes how to programme your own autonomous racing car. It’s all about getting staff to understand one another.
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Joseph Poon is group head of DBS Private Bank, one of Asia’s leading wealth managers. But the event that drives him today, informing his values and his views on investing and risk management, was stepping aboard a rickety raft in 1976 to flee an impoverished and divided Vietnam.
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As expected, DBS and UOB reported dramatic year-on-year declines in profitability, but both were protected by their range.
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When Singapore suffered a second spike in coronavirus cases in April, attention turned to the city state’s migrant labourers, an army of essential workers described by a former head of the National University of Singapore’s Saw Swee Hock School of Public Health as society’s “most invisible” members.
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It is hard to find a bank with greater integrity than DBS. Its commitment to responsible banking, sustainable finance, running a responsible business and creating social impact are obvious; and this year it wins the award for Asia’s best bank for corporate responsibility.
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DBS takes the award for Asia’s best bank for transaction services this year.
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DBS is a bank at the top of its game. For the second year in a row, it not only wins the best bank in Asia award but canters away with it at high speed.
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DBS reaffirms its best bank status in the region in this year’s Euromoney Awards for Excellence.
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Supply chain disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
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Piyush Gupta, head of Singapore’s DBS Bank, tells Euromoney that scrapping dividends now is a mistake, discusses the mental stress of working from home, and says a multi-year recovery will hit banks hard and lead to mergers and job losses.
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Relief for corporates reeling from the coronavirus will be the bank’s top focus for some time, says its global head of transaction banking.
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DBS’s chief executive has transformed it into a globally respected bank and a leader in digital finance. What’s next for the Singapore-based lender? It sees an open door to becoming a truly pan-Asian financial institution, with sustainability at its core
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Retail banking has been disrupted. Now comes wholesale’s moment, as banks shift into a higher gear to meet the increasingly onerous demands of digitally connected corporates. Only the best and most adaptable firms are likely to survive.
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DBS evacuated 300 employees from Tower 3 of Singapore’s Marina Bay Finance Centre, after an employee tested positive for coronavirus. It comes as banks across the region re-examine worst-case scenarios as the pathogen spreads.
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Despite tough conditions at home and globally, DBS keeps delivering.
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The bank's group head, global transaction banking says: 'We want to open up the transaction banking landscape.'
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HSBC retains the top spot in Euromoney’s cash management survey.
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DBS regains the best bank in Asia award it first won three years ago, for showing how innovation, digital vision and creative thinking can not only sound good but also translate into record profits and resilient margins.
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The Singapore-based bank has developed into a business fit for purpose in the modern world. Is this the model for the bank of the future?
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DBS named world’s best bank in Euromoney Awards for Excellence 2019; JPMorgan is the world’s best investment bank; Erste’s Treichl recognized as banker of the year.
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Almost 10 years into his role as chief executive of Singapore-based DBS, Piyush Gupta has spent the last six of them on a mission to make an institution that looks more like a tech company than a bank. His message and methods are working, as digital disruption shreds costs and creates new revenue streams. Has DBS created the template for how successful banks will need to look in the future?
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
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In a supposedly slow-moving industry, the amount of change in global wealth management over five decades has been remarkable.
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For many private banks that set up in Asia in the last decade, the cost of doing business kept them locked out of the vast expansion of wealth in the region; those that didn’t leave are settling into a more mature industry, but they are a long way from being able to relax.
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Tan Su Shan has led DBS’s efforts to become the leading home-grown bank for wealth management in Asia, during a decade in which the number of billionaires in the region has soared.
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Profits are up, but the markets hits it – for good and bad – for being the bank/tech hybrid Gupta has modelled.
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UOB responds with announcement of Grab alliance.
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Alternatives to green bonds and loans needed to boost Asian green finance; engaging retail investors will be key.
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Asia offers a unique client set of young entrepreneurs; it also offers the challenge of new generations inheriting wealth with different expectations from their predecessors. That is a great opportunity, but it requires private banks to be nimble, thoughtful and technologically adept.
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There are only two truly global, fully fledged cash management banks today, but the digital arms race in transaction services gives far more banks the opportunity to be world class.
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DBS marked its 50th anniversary by commissioning a musical based on its web series 'Sparks'.
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Neal Cross brought a range of unusual experiences to his job as chief innovation officer at DBS, one of the world’s most impressive banks for digital ideas. His desire to disrupt and transform doesn’t stop at the bank – it extends to Sumatran orangutans.