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DBS bags its second global SME award this year


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IFC, member of the World Bank Group, names DBS the Global Bank of the Year at its inaugural Global SME Finance Awards

SINGAPORE,07 November 2018 -

DBS Bank beat more than 100 competitors internationally to be named Bank of the Year (Global) and Bank of the Year (Asia) in the inaugural Global SME Finance Awards, held in conjunction with the Global SME Finance Forum and managed by the International Finance Corporation, part of the World Bank Group. This is the second global award DBS has won this year for its SME banking franchise.

The awards jury commended DBS for the robust regional growth of its SME franchise. It also lauded the bank for its ability to develop advanced SME products in established markets, which are subsequently adapted for middle income and emerging markets at a low cost. In addition, the jury highlighted DBS’ use of digital technology to improve the SME customer experience and expand its customer base in a robust competitive landscape.

Matthew Gamser, CEO of the SME Finance Forum, said, “The Global SME Finance awards celebrate the best-in-class financial institutions and fintechs that have achieved remarkable results in their SME product or service offerings. Our winners are diverse, but they all share a strong commitment to helping small businesses in their markets with their dedication and innovative practices.”

Receiving the Bank of the Year (Global) and Bank of the Year (Asia) awards further underscore DBS’ growing global influence, exemplifying once more how Singapore’s largest bank punches above its weight.

Joyce Tee, DBS Group Head of SME Banking, said, “Winning the top awards in both the Global and Asia SME Bank of the Year categories is an honour. It has been challenging and rewarding to build our SME banking business into one with international stature, and we are thrilled that these efforts are being recognised on a global stage by our international peers. These wins, alongside Euromoney’s recognition of DBS as World’s Best Bank for SMEs, affirm the importance we place on adapting to changing customer needs.”

DBS was founded in 1968 to focus on financing the industrialisation of Singapore. Over the years, it has supported the growth of many of today’s largest companies, in industries such as property development, manufacturing and shipbuilding. DBS today banks around three in five SMEs in Singapore, and the SME business contributes more than a third of the bank’s institutional banking income.

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About DBS
DBS is a leading financial services group in Asia, with over 280 branches across 18 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 "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “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 ten consecutive years from 2009 to 2018.

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 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

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