Euromoney: Global Real Estate Awards 2023

Content first published by Euromoney on 28 September 2023

Asia Pacific’s Best Bank 2023: DBS

With a presence in 19 markets globally, including Singapore, Hong Kong, China, India and the US as well as Europe, DBS delivered a record total income of S$16.5 billion ($12 billion) in 2022, a 20% increase in net profits to S$8.19 billion, return on equity of 15% and S$20.5 billion in sustainable financing loans.

In July 2022, DBS London (supported by the global real estate team) and two other banks extended a £515 million loan to finance Paddington Central Campus, owned by Singaporean sovereign wealth fund GIC and British Land.

The deal exemplifies the bank’s ability to leverage its global network to deliver cross-border solutions.

In the same year, DBS was also involved in financing the acquisition of JEM, an integrated office and retail development in Singapore, by Lendlease Global Commercial real estate investment trust on the entire capital stack as joint mandated lead arranger and bookrunner and joint sustainability coordinator for the S$860 million sustainability-linked loan – the largest at the time among Asia-Pacific Reits.

The bank is proactively engaging in sustainability conversations with its clients and originating sustainability-linked loans.

In September, DBS and Keppel announced a memorandum of understanding to focus on India with the aim of accelerating energy optimisation and sustainable solutions across hospitality as well as commercial and industrial real estate, and healthcare.