Capital Instruments
DBS’s capital management objective is to maintain a strong capital position consistent with regulatory requirements under MAS Notice to Banks No. 637 and the expectations of our various stakeholders, i.e., customers, investors and rating agencies. We pursue this objective while delivering returns to shareholders and ensuring that adequate capital resources are available for business growth and investment opportunities as well as adverse situations. We manage our capital structure in line with our capital management objective and in order to optimise the cost and flexibility offered by various capital resources.
> See table below for our list of outstanding capital instruments
> Please refer to our Main Features of Capital Instruments document for a summary of outstanding capital instruments
List of outstanding capital instruments
Instrument | SGX Mainboard Listing | Moody’s S&P Fitch | Capital Eligibility | Payment Dates |
---|---|---|---|---|
Additional Tier 1 | ||||
DBSH US$1,000,000,000 3.30% Non-Cumulative, Non-Convertible, Perpetual Capital Securities First Callable in 2025, issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | Yes | Baa1(hyb) N.A. BBB | Additional Tier 1 | 27 Feb 27 Aug |
DBSH S$1,000,000,000 3.98% Non-Cumulative, Non-Convertible, Perpetual Capital Securities First Callable in 2025, issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | No | Baa1(hyb) N.A. BBB | Additional Tier 1 | 12 Mar 12 Sep |
Tier 2 | ||||
DBSH JPY 10,000,000,000 0.918% Subordinated Notes due 2026 issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | No | A2(hyb) N.A. N.A. | Tier 2 | 8 Mar 8 Sep |
DBSH A$300,000,000 Floating Rate Subordinated Notes due 2031 Callable in 2026 issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | No | A2(hyb) N.A. A | Tier 2 | 8 Jan 8 Apr 8 Jul 8 Oct |
DBSH RMB 1,600,000,000 3.70% Subordinated Notes due 2031 Callable in 2026 issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | No | A2(hyb) N.A. N.A. | Tier 2 | 3 Mar 3 Sep |
DBSH USD 500,000,000 1.822% Subordinated Notes due 2031 Callable in 2026 issued pursuant to the US$30,000,000,000 Global Medium Term Note Programme | No | A2(hyb) N.A. A | Tier 2 | 10 Mar 10 Sep |
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