DBS Bank announced today that it has been named “Safest Bank in Asia” for the eighth consecutive year by New York-based trade publication Global Finance. DBS is third on the list of the global safest commercial banks and 12th safest bank globally.
“Asian banks put in a strong showing in the top 20, led by Singapore’s DBS Bank at number 12,” said Global Finance publisher and editorial director Joseph D. Giarraputo. Within Asia itself, the Singapore banks dominate the list, with DBS topping the ranking.
“In the past year, Asia has seen landmark political shifts at a time of economic uncertainty. Our ranking of the Safest Banks in the region showcases banks that have built solid foundations—offering security and stability in this rapidly changing environment—and provides a consistent tool for comparing institutional strength within the region,” said Giarraputo. “With tighter regulations, now more than ever, corporate clients demand financial services they can trust.”
Piyush Gupta, CEO of DBS Bank said, “DBS is honoured to be consistently recognised as the safest bank in Asia. The global economy this year has been marked by more pronounced economic uncertainty and volatility. Despite the challenging operating environment, the bank’s first-half net profit reached a record high, which is a testament to the strength and resilience of the franchise.”
DBS reported record core net profit of SGD 2.25 billion for the first half of 2016. The bank’s 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.
Since 1992, the Global Finance 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 - Living, Breathing Asia
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 capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific.
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 conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.
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.