DBS LAUNCHES INDUSTRY GAMECHANGING WORKING CAPITAL ADVISORY PROGRAMME
First bank in the world to offer comprehensive working capital advisory programme
enabling corporates to reduce cost of banking
SINGAPORE, 18 March 2014 – DBS Bank today announced the launch of a comprehensive working capital advisory programme – the first of its kind by a bank anywhere in the world – that helps corporates analyse both their physical and financial supply chains and reduce their overall banking costs.
DBS has developed a set of proprietary benchmarking and diagnostic tools which will provide clients with customised research and insights, allowing them to identify and unlock trapped cash. During DBS’ pilot of the programme, participating companies were typically able to identify a 20-30% increase in the cash flow generated from their operations.
For CFOs across the world, the physical supply and distribution chain has become more complex in the last decade, and has increasingly consumed more of a company’s working capital. Using the cash conversion cycle to generate an additional source of funding has been a universal approach to increasing the value of a company, but one that is very complex and challenging. Whether a company is a large MNC or a family-owned SME, effective working capital management gives it a very strong competitive advantage.
Said Tom McCabe, Head of Global Transaction Services, DBS Bank, “Client feedback on this programme has been incredible. Our analysis provides corporates with insights that enable them to generate more cash flow internally, reduce their counterparty risk and drive more operational efficiencies. This is an industry first, and it moves the discussion from transactional to value creation.”
DBS’ transaction banking business has been one of the bank’s strategic priorities since 2010. The GTS business generates nearly SGD 1.5 billion in revenue annually, and has delivered a 29% CAGR over the last four years. With its comprehensive suite of products and services, the business has garnered close to 150 accolades. These include ‘Best Asian International Transaction Bank, Asia-Pacific’ by The Asian Banker, ‘Best Global Cash Management Bank, Asia-Pacific’ by Asiamoney and ‘Best Cash Management Bank, Singapore’ by Asiamoney, The Asset, The Asian Banker and Asian Banking & Finance.
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 as “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Managed Bank in Asia-Pacific” by The Asian Banker. 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 also 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
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