Euromoney names DBS ‘World’s Ideal Bank’ and ‘World’s Ideal Digital Bank’ for 2021
DBS counseled for “not just surviving a disaster, but utilizing it as a probability to innovate and to be a superior financial institution”
SINGAPORE, Sept. 10, 2021 /PRNewswire/ — For the fourth consecutive 12 months, DBS has been recognised as the World’s Very best Financial institution, entrenching the bank’s posture as an field chief reshaping the long term of banking. DBS’ most the latest world greatest lender accolade will come from foremost United kingdom-based economic publication Euromoney, which has honoured DBS with the ‘World’s Very best Bank’ title for the 2nd time in three years, in its Awards for Excellence 2021. Euromoney also named DBS “World’s Very best Digital Bank”, generating it the 1st time any bank in the globe has held both of those titles concurrently.
Louise Bowman, Editor of Euromoney, claimed: “Of all the banking institutions we address globally, DBS was the just one that most obviously shown a uncommon ability: not just surviving a crisis, but applying it as a likelihood to innovate and to be a better financial institution. As properly as fortitude and profitability, it confirmed opportunism and sensible wondering, all underpinned by its electronic leadership.”
All through the COVID-19 pandemic, DBS doubled down to assist its prospects and the broader community remain resilient in crisis. It approved additional than 12,000 collateral-totally free financial loans totalling in excess of SGD 6.2 billion, and SGD 11 billion in personal loan moratoriums for micro, compact and medium business (MSME) shoppers. It also allowed house owners across its regional markets to defer house loan repayments amounting to SGD 5.2 billion in home loan relief in 2020. At the height of the pandemic, DBS also harnessed its broader tech infrastructure to facilitate Singapore federal government pay back-outs of far more than SGD 31 billion digitally to support households and businesses in need to have.
At the identical time, the bank wasted no time in fortifying its business enterprise for the upcoming. More than the earlier yr, DBS leveraged its robust capital posture to execute strategic transactions to anchor its expansion in two of its important markets – amalgamating Lakshmi Vilas Lender in India, and acquiring a 13% stake in Shenzhen Rural Industrial Financial institution in China, getting to be its biggest shareholder as a consequence.
As an market leader in electronic innovation, DBS also released numerous ground-breaking initiatives that faucet on emerging technologies these kinds of as blockchain and synthetic intelligence. They include:
DBS Digital Exchange, a blockchain-primarily based ecosystem for fundraising by asset tokenisation and secondary investing of electronic belongings together with cryptocurrencies.
Climate Effect X, a worldwide exchange and market for higher high quality carbon credits.
Partior, a blockchain-dependent open sector platform that disrupts the conventional cross-border payments model.
DBS NAV Planner, a groundbreaking digital advisory option powered by around 100 AI styles that will help buyers with fiscal setting up, retirement preparing, and taking a self-directed strategy to investing digitally.
Piyush Gupta, DBS CEO, stated: “We are honoured that Euromoney has preferred to recognise us as World’s Finest Bank and World’s Best Electronic Lender at the time again. In a difficult pandemic year, we are heartened that we have been able to strongly help consumers, personnel and the neighborhood, even though delivering a resilient set of earnings. At the similar time, we resolved early on to use the disaster as a system to further more reposition ourselves basically as a financial institution of the potential. We obtained stakes in banking companies in India and China to cement our posture in Asia, and also released new landmark electronic initiatives. As we seemed at vital traits which we think will re-shape the post-pandemic environment – trends this kind of as hyper-digitalisation, supply chain shifts, and an elevated sustainability focus – seven or eight large company tips emerged. Our electronic and carbon exchanges, new blockchain payments joint venture, and AI digital advisor NAV Planner, were being borne out of this.”
DBS’ 1st world-wide most effective lender accolade was conferred by Global Finance in 2018, when the New-York primarily based publication named it ‘Best Financial institution in the World’. In the exact calendar year, DBS was Money Occasions publication The Banker’s select for ‘Global Bank of the Year’. Euromoney and International Finance honoured DBS with their most prestigious best bank accolades in 2019 and 2020 respectively, the latter award offered in recognition of DBS’ extensive-ranging guidance for clients, staff and the local community during the COVID-19 pandemic. The 2021 Euromoney title tends to make it the fourth calendar year in a row that DBS has picked up a world wide Most effective Bank accolade. Earlier this yr, DBS also clinched The Banker’s most prestigious digital banking award, and was named the Global winner in The Banker’s Innovation in Electronic Banking Awards 2021.
DBS is a foremost economical products and services team in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the a few crucial Asian axes of growth: Better China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit scores are amongst the highest in the earth.
Recognised for its world wide management, DBS has been named “World’s Very best Financial institution” by Euromoney, “Global Bank of the Yr” by The Banker and “Very best Financial institution in the Planet” by World Finance. The financial institution is at the forefront of leveraging digital know-how to shape the future of banking, acquiring been named “World’s Finest Digital Financial institution” by Euromoney and the world’s “Most Ground breaking in Electronic Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by International Finance for 12 consecutive decades from 2009 to 2020.
DBS offers a complete variety of products and services in client, SME and company banking. As a bank born and bred in Asia, DBS understands the intricacies of performing business in the region’s most dynamic markets. DBS is committed to developing lasting interactions with clients, and positively impacting communities through supporting social enterprises, as it banking companies the Asian way. It has also founded a SGD 50 million foundation to strengthen its corporate social duty endeavours in Singapore and across Asia.
With its comprehensive community of operations in Asia and emphasis on engaging and empowering its employees, DBS provides exciting job options. For extra details, make sure you visit www.dbs.com.