DBS Bank announced today that it has been named “Safest Bank in Asia” for the sixth consecutive year by leading trade publication Global Finance. DBS also emerged second on the list of global safest commercial banks and maintained its 12th spot on the list of safest banks globally.
The safest commercial banks ranking was expanded this year to comprise 50 of the top banks. “These banks are not government-owned, and are among the strongest and most secure institutions in the world,” noted Joseph Giarraputo, publisher and editorial director of Global Finance.
“With geopolitical risk rising in some markets and globalisation continuing apace, it is essential for companies to work with banking partners they know they can trust. This ranking offers companies an objective tool for evaluating the stability and security of the world’s banks—both globally and by region,” Giarraputo said.
Piyush Gupta, CEO of DBS Bank said, “DBS is honoured to be recognised as the safest bank in Asia for the sixth year running. The bank has doubled in size in recent years, with net profit in 1H2014 the equivalent of our full-year earnings in 2009. Topping the Global Finance ranking yet again underscores DBS' ability to execute on strategy and grow our franchise, while keeping a firm eye on risks.”
Since 1992, the ranking has been a recognised standard of creditworthiness for the financial world. The banks were selected through an evaluation of long-term credit ratings – from Moody’s, Standard & Poor’s and Fitch Ratings – and total assets of the 500 largest banks worldwide.
DBS’ in-depth knowledge of Asian markets, innovative products, high credit ratings and strong balance sheet have positioned the bank well to grow and capture opportunities in the region. DBS delivered record net profit of SGD 2.00 billion for the first half of 2014, up 9% from a year ago, crossing the SGD 2 billion mark for the first time. Including one-time items, net profit was SGD 2.20 billion.
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 www.dbs.com.