DBS Bank today announced that it has been named “World’s Safest Commercial Bank” by New York-based trade publication Global Finance, marking the first time the bank has achieved this accolade. DBS was also named Asia’s Safest Bank for the 13th consecutive year, extending a track record stretching back to 2009. The bank was ranked 11th on the World’s Safest Banks list, up three positions from 2020.
Joseph D. Giarraputo, Global Finance publisher and editorial director, said, “The past year demonstrates the resilience of the banking sector, which stood as a bulwark against collapse during the coronavirus pandemic, supplying critical emergency funding as well as, in many cases, emergency equipment and supplies. The safest banks are paragons of stability, and continue to provide necessary support for governments and communities as they seek to recover from the pandemic’s economic shocks.”
Chng Sok Hui, Chief Financial Officer of DBS Bank, said, “We are honoured that Global Finance has named DBS the World’s Safest Commercial Bank. This comes alongside our 13th consecutive year as the Safest Bank in Asia. Amidst the pandemic, we remain a trusted partner for our customers, providing for all their banking needs in safe and innovative ways. Uncertainties in the global economy are likely to persist, but our resilient franchise, underpinned by a solid capital base, healthy business momentum, and long-standing customer relationships, ensure our ability to strongly support customers and communities.”
Global Finance’s annual ranking of the World’s 50 Safest Banks has been the recognised and trusted standard of financial counterparty safety for a quarter-century. 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 by asset size.
This year, DBS was also named World’s Best Bank and World’s Best Digital Bank by leading financial publication Euromoney, marking our second and third wins in each category, respectively, within the last six years. The win for World’s Best Bank in 2021 marks the fourth consecutive year that DBS has been honoured with a global ‘Best Bank’ accolade, having won equivalent titles from Global Finance in 2020 and 2018, Euromoney in 2019, and Financial Times publication The Banker in 2018.
DBS is a leading financial services group in Asia with a presence in 18 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.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. 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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.
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, 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. For more information, please visit www.dbs.com.