Bank DBS Indonesia Receives AAA Rating from Fitch Ratings Indonesia | Bahasa
Indonesia.25 Apr 2024.0 min read
Indonesia, 25 Apr 2024 - PT Bank DBS Indonesia made another achievement by receiving AAA (idn) National Long-Term Rating and National Short-Term Rating of 'F1+(idn)' from Fitch Ratings Indonesia. This prestigious rating reaffirms a solid financial performance of PT Bank DBS Indonesia and its commitment to having strong corporate governance for creditworthiness and sustainable business practices.
Fitch Ratings is an international credit rating agency based in New York City and London. The ratings issued by Fitch guide investors to investments that will not default and generate strong returns. The AAA (idn) National Long-Term Rating is the highest rating on a national scale given to companies with the lowest expectation of default risk and reliable cash flow, whereas National Short-Term Rating of 'F1+(idn)' indicates PT Bank DBS Indonesia's capability for timely payment of financial commitments.
Regarding this achievement, President Director of PT Bank DBS Indonesia Lim Chu Chong said, "The AAA (idn) National Long-Term Rating and National Short-Term Rating of 'F1+(idn)' awarded by Fitch Ratings Indonesia to PT Bank DBS Indonesia is a recognition of solid financial performance and our dedication in upholding integrity and implementing measurable risk management to provide good financial services for customers."
Fitch Ratings' assessment is based on a comprehensive evaluation of various factors, including a company's debt structure, financial position, exposure to economic risk, and overall business strategy. In addition, the assessment is also based on several key factors, one of which is the high level of support from its parent company, DBS Bank Ltd (Bank DBS), in considering the strategic role of PT Bank DBS Indonesia in the bank's long-term plans. Bank DBS' strong creditworthiness, combined with its significant shareholding in PT Bank DBS Indonesia (99 percent), is a key underpinning of the subsidiary's rating.
"Bank DBS’ Viability Rating (VR) is seven notches above the average score in Indonesia which reflects the financial strength and stability of the bank. In addition, Bank DBS has a high credit rating and thus has the ability to support PT Bank DBS Indonesia in its long-term plans. This not only positions PT Bank DBS Indonesia as one of the most trusted financial institutions in Indonesia, but also underscores our commitment to long-term growth," Lim Chu Chong concluded.
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. DBS Indonesia is ranked second in the top as World’s Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
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 businesses for impact: enterprises 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 underserved communities with future-ready skills and helping them to build food resilience.
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.
Fitch Ratings is an international credit rating agency based in New York City and London. The ratings issued by Fitch guide investors to investments that will not default and generate strong returns. The AAA (idn) National Long-Term Rating is the highest rating on a national scale given to companies with the lowest expectation of default risk and reliable cash flow, whereas National Short-Term Rating of 'F1+(idn)' indicates PT Bank DBS Indonesia's capability for timely payment of financial commitments.
Regarding this achievement, President Director of PT Bank DBS Indonesia Lim Chu Chong said, "The AAA (idn) National Long-Term Rating and National Short-Term Rating of 'F1+(idn)' awarded by Fitch Ratings Indonesia to PT Bank DBS Indonesia is a recognition of solid financial performance and our dedication in upholding integrity and implementing measurable risk management to provide good financial services for customers."
Fitch Ratings' assessment is based on a comprehensive evaluation of various factors, including a company's debt structure, financial position, exposure to economic risk, and overall business strategy. In addition, the assessment is also based on several key factors, one of which is the high level of support from its parent company, DBS Bank Ltd (Bank DBS), in considering the strategic role of PT Bank DBS Indonesia in the bank's long-term plans. Bank DBS' strong creditworthiness, combined with its significant shareholding in PT Bank DBS Indonesia (99 percent), is a key underpinning of the subsidiary's rating.
"Bank DBS’ Viability Rating (VR) is seven notches above the average score in Indonesia which reflects the financial strength and stability of the bank. In addition, Bank DBS has a high credit rating and thus has the ability to support PT Bank DBS Indonesia in its long-term plans. This not only positions PT Bank DBS Indonesia as one of the most trusted financial institutions in Indonesia, but also underscores our commitment to long-term growth," Lim Chu Chong concluded.
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. DBS Indonesia is ranked second in the top as World’s Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
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 businesses for impact: enterprises 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 underserved communities with future-ready skills and helping them to build food resilience.
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.
