DBS named Asia’s Safest Bank for 11th consecutive year
Ranked 14th safest globally, and fourth-safest commercial bank worldwide
DBS Bank today announced that it has retained the title of “Safest Bank in Asia” for the 11th consecutive year, awarded by New York-based trade publication Global Finance. DBS remains the fourth-safest commercial bank in the world, and 14th safest on Global Finance’s list of the World’s 50 Safest Banks.
Joseph D. Giarraputo, Global Finance publisher and editorial director, said, “Asia’s export stability is currently being tested by tectonic shifts in trade policy. The banks that earn Safest ratings help their clients maintain stability in the face of rapid change and growing uncertainty. These even-keeled institutions are well-equipped to steer through any turmoil.”
“DBS’ expansion strategy is vindicated by its consistent ranking as the ‘Safest Bank in Asia’, and among the safest banks in the world. Given current global economic turbulence, financial stability is more important than ever, and DBS’ steadying hand remains a beacon to its clients,” added Global Finance.
Said Piyush Gupta, CEO of DBS Bank, “We are honoured that Global Finance has recognised us as the Safest Bank in Asia for the 11th year running. Our consistently strong placement in these rankings is testament to our long-standing customer relationships, earnings power and solid capital base. As we continue to define the future of banking, we remain committed to upholding the trust that our stakeholders have come to expect of us.”
Global Finance’s annual ranking of the World’s 50 Safest Banks has been the recognised and trusted standard of financial counterparty safety for a quarter-century. Winners were selected through an evaluation of long-term foreign currency ratings — from Moody’s, Standard & Poor’s and Fitch — of the 500 largest banks worldwide.
This year, DBS has also been recognised by Euromoney as the World’s Best Bank. This follows similar recognition in 2018 from Global Finance and The Banker, who named the bank the “Best Bank in the World” and “Bank of the Year – Global”, respectively, making DBS the first bank in the world to hold all three titles at the same time.
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 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.