DBS named Asia’s Safest Bank for ninth consecutive year
SINGAPORE,14 September 2017 -
DBS Bank today announced that it has been named “Safest Bank in Asia” for the ninth consecutive year by New York-based trade publication Global Finance. DBS is second on this year’s list of global safest commercial banks, up one spot from the year before. The bank is also up one spot to 11th on the global safest bank list, inching closer to the top 10.
“Asia has been one of the strongest regions globally in the past year while other parts of the world are wrecked by economic uncertainty,” said Global Finance publisher and editorial director Joseph D. Giarraputo.
“Asian banks put in a strong showing in the top 20, led by Singapore’s DBS Bank at #11,” Global Finance said in a statement.
Piyush Gupta, CEO of DBS Bank said, “It is an honour to be recognised as the Safest Bank in Asia for the ninth year running. Despite the challenging macroeconomic environment in the past few years, DBS’ operating performance has remained strong. Topping the Global Finance ranking is testament to the resilience of the franchise, strong governance and risk management processes underpinning our businesses.”
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 2.35 billion for the first half of 2017, up 4% from the previous year.
Since 1992, the Global Finance World’s Safest Banks 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 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, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.
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 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
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