DBS is World's Best Bank for third year in a row

Singapore, Hong Kong, Indonesia, India, China, Taiwan, Regional.06 Sep 2020

Global Finance names DBS ‘Best Bank in the World’ for second time in three years


DBS also Singapore’s most valuable brand for eighth year running


Singapore, Hong Kong, Indonesia, India, China, Taiwan, Regional, 06 Sep 2020 - DBS has been recognised as the World’s Best Bank for the third year in a row, underscoring the bank’s growing presence among banking leaders worldwide. DBS’ latest global best bank accolade comes from the New York-based financial publication Global Finance, which named DBS ‘Best Bank in the World’ for the second time in three years in its World’s Best Global Banks 2020 Awards.

This award underscores the bank’s leadership and standing in 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 Financial Times publication The Banker in the same year. In 2019, DBS was named ‘World’s Best Bank’ by leading financial publication 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, and for putting Singapore on the world map yet again. 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 underlies our whole focus on being a purpose-driven bank doing real things for real people for real economies.”

Separately, DBS was also named by leading brand strategy and valuation consultancy Brand Finance as Singapore’s Most Valuable Brand for the eighth year in a row in its 2020 Top 100 Singapore Brands report. DBS placed first in the 2020 ranking with a brand value of USD 8.47 billion. Earlier this year, DBS was also named ASEAN’s Most Valuable Bank Brand for the eighth consecutive year, in Brand Finance’s 2020 Banking 500 report.

Samir Dixit, Managing Director of Brand Finance Asia-Pacific, said, “DBS is a very brand-focused business, and that’s what will be their key strength for continued value growth. Their very early digital push puts them in a strategic position during the Covid-19 pandemic when digital and online offerings are the key for customer service. At a time of great economic uncertainty globally, the key to retaining shareholder value will be intangible assets like branding, and DBS is in a strong position with their brand.”

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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.

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 of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

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