Global Finance ranks DBS Bank best in Asia-Pacific
The China Post news staff
April 2, 2014, 12:01 am TWN
TAIPEI, Taiwan -- DBS Bank has been named "Best Bank in the Asia-Pacific" by Global Finance in its annual World's Best Banks Awards 2014, marking the first time an Asian bank has won this prestigious award.
Global Finance's World's Best Banks Awards aim to recognize banks with which corporations around the world would most likely want to do business. DBS also clinched the "Best Bank in Singapore" title.
DBS has delivered four consecutive years of strong growth since identifying its strategic priorities in 2010, with 2013 net profit hitting a record high of SG$3.5 billion — the highest of all the Singapore banks — and a total income rising 11 percent to a new high of SG$8.9 billion.
The double-digit top-line growth reflected the depth and resilience of DBS'regional franchises across all its business lines in a year marked by market volatility and low interest rates.
Despite the challenging operating environment, DBS achieved record income in consumer banking, wealth, SME banking and global transaction services, said Global Finance.
In addition, to ensure that clients are at the heart of the DBS banking experience, DBS has placed innovation at the top of its agenda, and has continued to enhance its infrastructure and technological platforms to make it more convenient for customers to bank electronically or on the go.
DBS Employee Engagement Ranks High
DBS has about 2.4 million online and 840,000 mobile users across the region. It has also embarked on strategic partnerships with leaders in the technology space, such as IBM and A*STAR, to develop new and innovative products and services that will better serve its clients' needs.
On the employee front, DBS' employee engagement ranks among the top 10 percent of all financial institutions and companies surveyed by international research consultancy Gallup. The bank has also won the Gallup Great Workplace Award for two consecutive years in 2013 and 2014.
DBS also aims to deliver long-term social value to the communities it is in. As part of efforts to champion social entrepreneurship across Asia, since 2012 DBS has provided close to SG$2 million in grants to 59 social enterprises in Asia. Earlier this year, the bank also committed SG$50 million to establish a DBS Foundation to strengthen its corporate social responsibility efforts across Asia.
Winners of Global Finance's World's Best Banks Awards were selected based on objective criteria such as growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products.