DBS EXTENDS LEAD AS MOST VALUABLE BRAND IN SINGAPORE
Brand value tops USD 4 billion; double that of three years ago
SINGAPORE, 3 July 2014 – DBS Bank has been ranked the most valuable brand in Singapore for the second consecutive year in Brand Finance’s annual “Top 100 Singapore Brands” league table.
According to Brand Finance, over the last year, DBS grew its brand value by USD 535 million to USD 4.01 billion. This makes DBS the only Singapore company with a brand value that tops the USD 4 billion mark. It also enabled the bank to extend its lead over the Singapore Airlines brand by USD 761 million. Today, DBS’ brand value is nearly double that of other bank brands in Singapore.
In 2014, DBS also contributed more than 30% of the total brand value increase of USD 1.708 billion across the top 100 Singapore brands.
Samir Dixit, Managing Director of Brand Finance Asia Pacific said, “The fact that DBS has generated a significant lead over Singapore Airlines in a very short period of time clearly communicates the importance and significance of a strong brand for DBS. They will likely stay at the # 1 position for a few years unless there is a game changing strategy amongst some of the other top five brands.”
“DBS has also managed to nearly double their brand value in a very short span of just three years which is a significant achievement,” added Dixit.
Karen Ngui, Managing Director and Head of Group Strategic Marketing & Communications at DBS said, “Given our roots as the Development Bank of Singapore, it is extremely heartening to be recognised as Singapore’s most valuable brand for the second year running. Our brand value has doubled in the last three years, from USD 2.04 billion to USD 4.01 billion and this is testament to the solid strides we have made in growing our franchise in the region and entrenching our leadership position in Singapore. We remain committed to growing our brand value as we continue on our journey to become the Asian bank of choice."
London-based Brand Finance is an independent brand strategy and valuation consultancy. The Singapore Top 100 Brands report is published annually and incorporates data from all listed companies. Each brand is accorded a brand rating: a benchmarking study of the strength, risk and future potential of a brand relative to its competitor set; and a brand value, which is a summary measure of the financial strength of the brand.
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 five consecutive years from 2009 to 2013.
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 19,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.