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DBS Bank Annual Report 1998

Performance at a Glance

Financial Highlights

Letter to Shareholders

Corporate Governance

Operations Review

Financial Report



  Operations Review

Building a world-class bank

Our strategy builds on DBS' strengths: industry
expertise, a powerful brand, technological leadership,
regional reach, a diverse pool of talented employees, 
and a willingness to rethink banking driven by
a belief that we can always do better.

Since DBS was founded 31 years ago, we've seen firsthand the speed and breadth of change - and learned the importance of adaptability. As a matter of operating philosophy, we seek to make continuous improvement an integral part of our organisational culture. 

That's why, across DBS Bank, we're accelerating the development of new services, capabilities and solutions for our customers. In so doing, we believe we can improve the way we approach financial services and deliver DBS to our customers.


Highlights of 1998
  • Acquired The Post Office Savings Bank of Singapore, making DBS the largest bank in Southeast Asia with total assets of S$99 billion.
  • Acquired a majority stake in the Bank of Southeast Asia in the Philippines.
  • Acquired a majority stake in Thai Danu Bank in Thailand.
  • Announced a conditional voluntary offer for all of the shares of Kwong On Bank, Hong Kong.
  • Ranked as one of Asia's top 20 stockbrokers by Asiamoney.
  • Introduced DBS One, value-added priority banking services.
  • Selected as the first bank in Singapore to distribute unit trust funds managed by foreign managers.
  • Initiated the first asset securitisation transaction.
  • Received International Financing Review's Asian Equity-Linked Issue of the Year award.
  • Expanded securities lending programme to cover five markets across Asia.

Building a world-class bank
Individual and Enterprise Banking
Institutional Banking, Treasury and Capital Markets
Regional Development
Supporting the Community