India:
DBS Bank today announced that it has been named “Safest Bank in Asia” by New York-based trade publication Global Finance. This is the 15th consecutive year that DBS has achieved this accolade, extending a track record stretching back to 2009. The bank also retained its position at 2nd in the ‘World’s Safest Commercial Banks’ list.
The Global Finance annual rankings of the World’s Safest Banks have been the recognised and trusted standard of financial counterparty safety for more than three decades. Winners were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—of the 500 largest banks worldwide.
Joseph D. Giarraputo, Global Finance founder and editorial director, said, “With the rise in inflation and bank runs, bank soundness remains the cornerstone of worldwide commerce during these stressful times. With a strong capital base, Singapore’s DBS has ranked Safest Bank in Asia for the 15th year.”
Chng Sok Hui, Chief Financial Officer of DBS Bank, said, “It is an honour to be recognised once again by Global Finance as the Safest Bank in Asia. During these uncertain times, Singapore continues to stand out as a safe haven with its robust legal system, regulatory framework and political stability. As the largest bank in Singapore and Southeast Asia, DBS’ resilient franchise, underpinned by a solid balance sheet, robust risk management capabilities and strong risk culture, position us well to continue to be an important and trusted partner to our customers and the community."
This year, DBS was also named World’s Best Bank for Corporate Responsibility by leading financial publication Euromoney, making it the first bank in Singapore to receive this award since the category’s inception in 2014. DBS has also been named “World’s Best Bank” multiple times by leading global publications including Euromoney, Global Finance and The Banker, “World’s Best Digital Bank” by Euromoney, “Most Innovative in Digital Banking” by The Banker, and “Top 100 Best Workplaces for Innovators” by Fast Company.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.
DBS Bank has been present in India for 29 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. The bank now has a network of ~530 branches in 19 Indian states.
As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
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