Click here to go back to the DBS Bank home page

DBS Bank Annual Report 1998

Performance at a Glance

Financial Highlights

Letter to Shareholders

Corporate Governance

Operations Review

Financial Report



Operations Review

Treasury Markets

In its treasury operations, the Bank continued to be a leading force in the domestic arena. Our leadership position in Singapore dollar-denominated spot and forward transactions was maintained, despite the regional currency crisis. Further building on its reputation as the first choice of Singapore corporate treasurers for foreign exchange transactions, the Bank continued to broaden its marketing coverage to provide treasury products and services to small and medium-sized businesses.

We also played a key role in the further development of the domestic corporate bond markets, leveraging on our distribution capabilities in the debt capital markets. During 1998, we successfully placed six primary Singapore dollar bond issues, including the first Singapore dollar supranational bond issue for the International Finance Corporation and the first corporate bond issued via a tender system by Jurong Town Corporation.


The acquisition of POSBank enhanced the Bank's already dominant position in both the local money market and the Singapore Government Securities (SGS) market where we remained the most active participant. Besides SGS and selected bond issues, DBS was also an active market maker for Singapore dollar-denominated interest rate and currency swaps.

DBS Trading Pte Ltd achieved commendable growth in its futures broking activities in 1998.

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

Institutional Banking
Capital Markets and Advisory
Treasury and Markets