DBS WINS BIG AT SINGAPORE CORPORATE AWARDS 2014
Conferred Gold for Best Managed Board for large-caps, Silver award for Investor Relations
SINGAPORE, 15 July 2014 – DBS won big at the Singapore Corporate Awards 2014, picking up the Gold for Best Managed Board for companies with SGD 1 billion and above in market capitalisation. The bank was also conferred the Silver award in the Best Investor Relations category for big-cap companies. The awards are a testament to the bank’s strong management, performance and high standards of corporate governance.
DBS’ 2014 wins come on the back of a sterling performance at last year’s awards, when the bank took home the Best Chief Executive Officer, Best Chief Financial Officer, and Bronze award in the Best Investor Relations category for companies with SGD 1 billion and above in market capitalisation.
According to organisers of the Singapore Corporate Awards, the Best Managed Board Award, launched in 2003, is the first of its kind in Asia Pacific to recognise and encourage enhanced corporate governance within companies by focusing on people management issues at the Board level.
The award selection is based on the overall quality of corporate governance, board composition and accountability, board functioning, performance orientation, managing country leadership, directors’ development and recognition, corporate transparency and governance disclosure, as well as shareholders’ interest.
DBS Chairman Peter Seah said, “This award is a great encouragement to us. DBS has a diverse board that provides a strong oversight role, and engages and provides guidance to management on all facets of business. Over the last four years, DBS has turned in a solid performance, thanks to a strong partnership between the Board and management. The strong partnership allows management to confidently execute against strategy, knowing that the Board stands behind them.”
In 2013, DBS reported net profit of SGD 3.5 billion, a record high. Including one-time items, net profit was SGD 3.67 billion. At 1Q 2014, DBS reported record net profit of SGD 1.03 billion, rising 29% from the previous quarter. This marked the first time that quarterly earnings crossed the SGD 1 billion mark.
Designed to recognise excellence in shareholder communication and corporate governance, the Singapore Corporate Awards constitute five key awards – Best Managed Board, Best Chief Executive Officer, Best Chief Financial Officer, Best Annual Report and Best Investor Relations.
The Awards are organised by Institute of Singapore Chartered Accountants, Singapore Institute of Directors and The Business Times, supported by Accounting and Corporate Regulatory Authority and Singapore Exchange, and sponsored by Bank Julius Baer. Other partners include Aon Hewitt, Citigate Dewe Rogerson i.MAGE, Egon Zehnder, EY and Singapore Management University.
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 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 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.