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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

Individual & Enterprise Banking - Individual Banking

From touchscreen, interactive kiosks and ATMs to Internet home banking and traditional banking centres, DBS provides comprehensive financial services to individuals in the Asia-Pacific region.

Our individual banking franchise was significantly enhanced in November when we acquired The Post Office Savings Bank of Singapore (POSBank), making DBS the largest retail bank in the nation. POSBank extends DBS' customer base to more than 5 million in the region, assets to more than S$90 billion and represents significant potential for the future.

DBS is now the largest mortgage financier in Singapore. POSBank provides many new opportunities for cross-selling DBS' full range of banking products, the distribution of insurance products, and provision of financial advisory services. It provides access to a large, stable, low-cost funding base and the ability to achieve scale and scope economies.

DBS was the first Singapore bank to introduce Platinum MasterCard and Visa cards

Last year we achieved a number of 'firsts' in personal banking, each with an eye to delivering world-class service at an affordable price.



Investment in Technology brings our customers new products and services - new experiences in the world of banking and finance.

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

Individual Banking
Private Client Group
Enterprise Banking


The result is greater convenience and better value to our combined customer base: DBS and POSBank together offer 169 domestic branch offices and a network of nearly 1,000 ATMs. Customers of both can now use ATMs for cash withdrawal, balance enquiry, funds transfer and CashCard services. DBS' Personal Autophone Service is also available to POSBank Savings Account holders.

Last year we achieved a number of 'firsts' in personal banking, each with an eye on delivering world-class banking - with hometown service.

Our continuing investment in technology brought our customers new products and services - new experiences in the world of banking and finance. Now, for the first time in Singapore, DBS customers can open Singapore dollar fixed deposit accounts and apply for DBS Internet Banking service through our ATMs. We also offer customers comprehensive investment capabilities via the Net. With a simple 'point and click' DBS customers can check on the value of their CPF investments and unit trusts, the status of IPO share applications, foreign currency executions, securities transactions and financing accounts - at a time and place convenient to them.

We enhanced programmes targeted to specific customer groups with new services including the introduction of DBS One, a priority banking service for affluent customers. DBS One customers enjoy personalised, priority service at selected DBS branches and have access to 24-hour service centre personnel through DBS Direct. To meet our customers' growing regional banking needs, account holders can now place deposits at our overseas branches from any Singapore location.

We have finalised a strategic alliance aimed at developing an investment management programme for individual investors with The Frank Russell Company, a 60-year old investment house with a worldwide reputation for performance and managing over US$1.3 trillion in assets today. The Frank Russell Company is one of the few premier investment institutions successfully engaging in U.S. domestic and international asset management for both individuals and institutions.

We were the first Singapore bank to distribute unit trusts managed by high-performing global fund managers, and the first to introduce the Platinum MasterCard and Visa cards, reinforcing our position as a premier credit card service provider.

Following the consolidation of Thai Danu Bank and DBS Bank Philippines and the impending acquisition of Kwong On Bank in Hong Kong, we will be integrating these entities into our network as we begin to extend our retail franchise throughout the region, responding to financial needs of our valued customers.