This award underscores the bank's leadership and standing within the global financial community in defining the future of banking, and its commitment to delivering a purpose beyond banking to create a more sustainable future.
DBS was also Global Finance's pick for 'Best Bank in the World' in 2018 and was named 'Global Bank of the Year' by The Banker, a publication by Financial Times, in the same year. In 2019, DBS was named 'World's Best Bank' by Euromoney. The 2020 Global Finance title makes it the third consecutive year that DBS has been honoured with a global Best Bank accolade.
Joseph D. Giarraputo, publisher and editorial director of Global Finance, said, "This year, a worldwide pandemic has upended commerce and made forecasting even more difficult, yet business must continue. DBS Bank is exemplary of a bank that was ready for the sharp rise in demand for digital banking services during the pandemic. Over the past decade, it invested heavily in all things digital and created a culture for banking that is inclusive and efficient. Those investments are paying off at a time of economic uncertainty. They have strengthened the bank's resilience and helped it to serve its customers in their time of need."
Piyush Gupta, DBS CEO, said: "We are honoured to be named Best Bank in the World for the third consecutive year. Without a doubt, Covid-19 is the crisis of our generation. In this extraordinarily difficult time, we recognise the integral role that banks play in supporting employees, customers and the wider community. We are humbled by the acknowledgement of our efforts on this front, particularly how our investments in digital, and our culture of inclusivity, have enabled us to serve customers in their time of need. This underlines our whole focus on being a purpose-driven bank doing real things for real people for real economies."
Surojit Shome, Managing Director and CEO of DBS Bank India, said, "It is truly inspiring that DBS has been named 'Best Bank in the World' by Global Finance. In India, as in our other core markets, we have been using our strong digital capabilities to support our customers through these challenging times while also helping the wider community through the DBS Stronger Together fund. Further, to complement our strong digital platforms, we have been expanding our branch network in India to support our increased focus on SME and retail banking so as to reach and serve a broader customer base.”
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 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. DBS Bank has been in India for 26 years, having opened its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides a comprehensive range of banking services for large, medium and small enterprises and to individual consumers in India. In 2016, DBS launched India’s first, mobile-only bank – digibank, which now has over 2.6 million customers. Currently present across 25 cities, the Bank has been expanding its presence across India since converting to a wholly-owned subsidiary.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. 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. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.[End]
