DBS Bank

“Crossing SGD 100 billion in market capitalisation is a seminal moment for DBS and Singapore. It is testament to the value we have been able to unlock through the multi-year structural transformation of our franchise. We are also proud to fly Singapore’s flag high on the international stage.” – Piyush Gupta, DBS CEO Recently, we had the honour of becoming the first Singapore-listed company to achieve SGD 100 billion in market capitalisation – the culmination of a multi-year structural transformation of our franchise. By taking the step to pursue a digitalisation strategy, we strengthened our deposit franchise. Together with high ROE businesses – wealth management, global transaction services and treasury market sales – as well as enhanced risk management, we’ve delivered a consistently strong financial performance. Our 2023 return on equity of 18% placed us in the top 10% of the world’s largest banks. And in Q1 2024, our ROE hit a new quarterly high of 19.4%. We’re thankful for the support of our customers and our employees. We remain committed to not only doing well, but also doing good. For instance, as a purpose-driven bank, we’ve committed up to SGD 1 billion over 10 years to support vulnerable communities. Read more about our journey in this article below.

Thank you Prime Minister Lee Hsien Loong for the past two decades of service and unwavering dedication to Singapore. Under your stewardship, our nation has become a world leader in finance, innovation, and cultural diversity. From all of us at DBS, we wish you all the best as you pass the baton. As we extend our heartfelt gratitude and well wishes to PM Lee, here is a quick roundup of our favourite moments with him – from visits to DBS offices to gracing our events and even including us in his National Day Rally speech in 2019.

We constantly ask ourselves: how can we further improve the way we manage and find solutions for customer feedback? In this article by Harvard Business Review, Nimish Panchmatia, Chief Data and Transformation Officer, DBS Bank, shares more about the bank’s gen AI-powered virtual assistant, which has enabled us to significantly improve our customer call quality, driving greater satisfaction while saving our call centre agents around 20% on call handling time.

Without much rise in volatility, global currencies have undergone large movements in recent years. Sharp monetary policy tightening in the US, along with an increasingly evident prolonged hold, has boosted the US dollar against just above all key currencies. DBS Group Research estimates that both developed market and Asian emerging market currencies have corrected, on average, by 10-12% against the USD, since the beginning of 2022. Most striking is the yen’s 41% correction in two and a half years, with the Bank of Japan (BoJ) still grappling with monetary policy normalisation. The BoJ has some reasons to worry about keeping rates so low. Deflation is no longer an issue; in fact, inflation has pushed real wage growth to negative territory. The government’s popularity has been hit by cost of living concerns, among other negative developments. Will this be sufficient to push the government of Japan toward interest rate increases on an expedited manner or undertake vigorous FX intervention? Find out what we think and our outlook on global currencies: https://go.dbs.com/4beCUxZ Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/4bzdR8z #investing #economy #global #usa #asiapacific #japan #financial #banking #future #emergingmarkets

“Is my baby still alive?” I held on to my abdomen – and my breath – awaiting a kick, or any movement. That gave me brief relief, before the fear crept back in. This continued for the next excruciating 24 hours. I was 24 weeks (five and a half months) pregnant and had been getting my first daughter ready for bed – a tougher than usual feat as we were giddy with excitement for our upcoming family holiday to Perth, Australia – when I suddenly felt a sharp pain in my belly. I looked down as splotches of red slowly appeared on my clothes. We rushed to the hospital. “The good news – she’s alive and stable. The bad – she’s moved into a rather low position and could come out anytime soon,” said the gynecologist. On her orders, I laid down with my lower body propped up, hoping desperately for any improvement. Of course, I didn’t sleep a wink that night, not wanting to miss out on any movement from my daughter. Unfortunately, morning came, nothing changed, and I was promptly sent for an emergency delivery. Right after she was born – extremely preterm – she was whisked away to be resuscitated, and then to the neonatal intensive care unit (NICU). The first time I saw her, it was with multiple machines connected to her tiny 500g frame. Still, she was beautiful and alive, which was all that mattered. We visited her every night for the next four months, until she could finally come home. The doctors and nurses, who we got to know so fondly over the months, threw her a tiny graduation celebration. It’s been five years since that lifechanging experience. And as much as the years have been filled with doctor check-ups to ensure our baby girl is hitting all her developmental milestones, we’ve been fortunate enough to experience other milestones in the meanwhile. I hit a personal goal in 2022 when I joined DBS’ tech risk management team, where we front audits, identify and assess technology risks and build up the risk culture of our people. Over the last few months, we've had to pull longer hours, as we are working hard to improve the overall technology risk posture. Despite the hours, I enjoy the challenge that work brings. It also helps that my team is completely understanding and flexible when I bring my daughter to her check-ups. I’m thankful for a supportive team and fulfilling career. Not to mention, a healthy and happy family. If there’s one thing I’ve learnt these few years, it’s not to take anything for granted.” Jeslyn Tan, Consumer Banking Group Technology #HumansofDBS #AllHandsOnDeck

Are countries like Singapore and Hong Kong prepared to tackle their ageing societies? Karen Ngui, DBS' Group Head of Strategic Marketing and Communications and Head of DBS Foundation, moderated a thought-provoking panel discussion on this very question at the 2024 World Ageing Festival. Panellists from The Majurity Trust, Kwong Wai Shiu Hospital, The Hong Kong Jockey Club, and Alphind Healthcare offered insightful solutions: increased funding access, stronger collaborations, and enhanced healthcare accessibility through technology. With the bank’s expertise in retirement-readiness and adequacy, as well as DBS Foundation’s vast experience in the impact sector, it is our privilege to drive crucial conversation around the evolving landscape of eldercare and its global implications. #DBSFoundation #activeageing #digitalinclusion #AAIF2024 #WAF2024 #WorldAgeingFestival #AgeingAsia

“At DBS, we recognise that it is a privilege to be given a licence to provide banking services to individuals, small and large businesses. With that license comes the responsibility to make sure that we uplift the community and bring everybody along.” – Kwee Juan Han, DBS Singapore Country Head Kwee Juan joins Suren, the owner of Singapore hawker stall Heavens, for a breakfast of appam, thosai and putu mayam – a childhood favourite of his. Join them as they talk about the realities of keeping hawker culture alive, preserving traditions, and the importance of embracing new technologies while inspiring others to do the same.

Global fixed income markets swung from despair to hope in the short span of three days last week and were chastened, following the meetings of the Federal Open Market Committee. With a lack of progress towards the 2% inflation target, it seemed initially that there will be no more than one rate cut this year. However, DBS Group Research thinks there is room for another cut as inflation and jobs momentum is on track to fade. But there is an emerging scenario under which energy and rental costs don’t ease much, and neither does the labour market. Between Middle-East tensions and Washington’s sustained fiscal support for the US economy, the idea of very little disinflation and no further weakening of the job market is hardly outlandish. Find out what we think could happen at https://go.dbs.com/4b5Jjvh Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/4b4otMT #investing #economy #global #usa #financial #future #employment #jobs #energy

Are you willing to recommend your place of work to your family and friends? For most DBS employees, we’re glad to say, the answer to this question is yes. As such, we’ve been recognised as one of Singapore’s Best Employers by The Straits Times for the fifth year running. This reaffirms our commitment to building fulfilling careers, with our employees feeling purposeful, invested in, connected, cared for and valued. To Team DBS - thank you for being alongside us on this journey to create the best workplace for a better world. Explore how you can build a rewarding long-term career at DBS: https://go.dbs.com/3Quclwp #LifeAtDBS #LiveFulfilled

“Doing sustainable business is doing good business – it goes hand in hand.” Tan Su Shan, Group Head of Institutional Banking Group, DBS, was speaking at the opening of DBS’ inaugural Sustainability Day, which saw the bank’s ecosystem of sustainability partners gather to help companies identify actionable pathways to low carbon business models. The event included workshops for some 70 companies that attended to explore sustainable financing solutions, strategies, and tools to help them in their sustainability journey. Sustainability Day is the latest in DBS’ commitment to accelerate businesses’ transition. During the event, DBS also launched the ESG Ready Programme, an end-to-end initiative aimed at helping local businesses in Singapore – from SMEs to mid-size corporations – become future-ready by building capability and capacity in sustainability. #TransitionFinancing #Sustainability #Banking