DBS Bank introduces new reward for National Service men


SGD 3,000 will be awarded to employees who complete their 10-year National Service Unit Training Cycle

SINGAPORE,08 October 2014 -

DBS Bank announced today a new initiative that will recognise the efforts of employees who successfully complete their 10-year National Service Unit Training Cycle. Under the NS HOME (National Service Housing, Medical and Education) Award, National Service (NS) men who complete their training cycle are given monetary rewards and grants by the government through three major milestones. The bank will now add to this – it will award SGD 3,000 in cash to employees when they complete their training. This will primarily benefit operationally active NS men, who represent about 60% of the bank’s male Singaporean and Permanent Resident workforce.

“At DBS, we believe that people are at the heart of banking and seek to create a great workplace for our people. To achieve this, we are focused on providing learning and development opportunities, rewards and recognition, and work-life balance. We commend the efforts of National Service men; they have made personal sacrifices and taken time away from their families to serve the nation. We want to do our part to recognise their contributions and we hope this award can be used for their family and lifestyle activities. Through a holistic people engagement programme, we hope to be increasingly known as an employer of choice in the region,” said Theresa Phua, Singapore Head of Human Resources at DBS Bank.

This new initiative comes under the bank’s comprehensive benefits programme. This includes the iFlex@DBS programme, which allows employees to claim expenses incurred for their health, lifestyle and family needs up to an annual limit. A baby bonus of SGD 1,200 is also given to all female and married male employees for each newborn or adopted newborn.

Employees are also encouraged to leave the office an hour earlier at 5pm on Fridays to spend time with their families. In addition, on top of their annual leave, every employee is entitled to two days of family leave every year and half a day off as birthday leave to be utilised during their birthday month.

The bank is also women-friendly, with its flexible work initiatives making it the only bank to win the “Best Company for Mums” award from the Singapore National Trades Union Congress (NTUC) and the Tripartite Alliance for Fair Employment Practices 2013. This year, DBS was the only bank to be awarded “Best Supportive Colleagues” by NTUC.

With DBS’ holistic people engagement efforts, the bank has steadily improved its employee engagement scores over the years. Its employees are among the top 10% most engaged of all financial institutions and companies surveyed by Gallup. DBS also won the Gallup Great Workplace Award in 2013 and 2014. The bank was one of four Asian companies to have been awarded this accolade this year.


About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 250 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. 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 of our 20,000 staff, representing over 30 nationalities. For more information, please visit

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