DBS NAMED SAFEST BANK IN ASIA FOR THE 15TH CONSECUTIVE YEAR BY GLOBAL FINANCE (2024)
PR Newswire
·3 min read
DBS ranked 2nd on the 50 Safest Commercial Banks list
SINGAPORE, Oct. 12, 2023 /PRNewswire/ -- DBS Bank today announced that it has been named "Safest Bank in Asia" by New York-based trade publication Global Finance. This is the 15th consecutive year that DBS has achieved this accolade, extending a track record stretching back to 2009. The bank also retained its position at 2nd in the 'World's Safest Commercial Banks' list.
The Global Finance annual rankings of the World's Safest Banks have been the recognised and trusted standard of financial counterparty safety for more than three decades. Winners were selected through an evaluation of long-term foreign currency ratings—from Moody's, Standard & Poor's and Fitch—of the 500 largest banks worldwide.
Joseph D. Giarraputo, Global Finance founder and editorial director, said, "With the rise in inflation and bank runs, bank soundness remains the cornerstone of worldwide commerce during these stressful times. With a strong capital base, Singapore's DBS has ranked Safest Bank in Asia for the 15th year."
Chng Sok Hui, Chief Financial Officer of DBS Bank, said, "It is an honour to be recognised once again by Global Finance as the Safest Bank in Asia. During these uncertain times, Singapore continues to stand out as a safe haven with its robust legal system, regulatory framework and political stability. As the largest bank in Singapore and Southeast Asia, DBS' resilient franchise, underpinned by a solid balance sheet, robust risk management capabilities and strong risk culture, position us well to continue to be an important and trusted partner to our customers and the community."
This year, DBS was also named World's Best Bank for Corporate Responsibility by leading financial publication Euromoney, making it the first bank in Singapore to receive this award since the category's inception in 2014. DBS has also been named "World's Best Bank" multiple times by leading global publications including Euromoney, Global Finance and The Banker, "World's Best Digital Bank" by Euromoney, "Most Innovative in Digital Banking" by The Banker, and "Top 100 Best Workplaces for Innovators" by Fast Company.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023. DBS provides a full range of services in consumer, SME and corporate banking.
The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World's Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
Since 2018, the financial institution has been named Best Bank in the World 2022 (Global Finance), World's Best Bank 2021 (Euromoney), and Global bank of the Year 2018 (The Banker) – seven times in just five years. DBS was not just the first in Singapore but the first bank in Asia to receive such global recognition.
DBS Bank has branches and offices in Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, the Philippines, Taiwan, Thailand, the United Arab Emirates, the United Kingdom, the United States and Vietnam.
Singapore, Hong Kong, Indonesia, India, China, Taiwan, Regional, 12 Oct 2023 - DBS Bank today announced that it has been named “Safest Bank in Asia” by New York-based trade publication Global Finance.
Whereas certain symptoms could subside soon, it may take an extended quantity of your time to seek out the proper combination for long-term effects. Invasive and Awake during Procedure: DBS surgery will involve an incision in the scalp, and access to deep elements of the brain.
In the end, DBS pipped the others for the global award because of the all-pervasive nature of its digital transformation. "Leaders in digital banking talk about the difference between digitising aspects of a bank and creating a truly digital financial institution," said Clive Horwood, editor of Euromoney magazine.
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 are among the highest in the world.
The IRS can issue a levy notice to any bank that is within the US. Thus, if a taxpayer has an account with a foreign bank, but that bank has a branch in the US, the IRS can simply issue a levy notice to the US office. This means the IRS may possibly reach the overseas bank account.
Following one of the most successful years in United's long history, United Bank has been named the Most Trustworthy Bank in America by Newsweek for 2023.
Switzerland has a long history and strong reputation of providing safe offshore private banking. However, jurisdictions like the Cayman Islands, Singapore, Germany, Gibraltar, Germany and Belize are also very safe options for offshore banking.
Can I deposit foreign currency into a DBS Multi Currency account? You can not deposit foreign currency cash into a DBS multi-currency account. You can receive payments to your DBS account as bank transfers. Fees apply for incoming transfers - usually 10 SGD every time.
Over the past few years, DBS has been at the forefront of new product developments, client migration from analogue to digital and the embedding of transaction banking services within client operations. The bank's success is largely attributable to the nuanced way in which it views technology and innovation.
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