DBS Bank - Wikipedia

The bank was previously known as The Development Bank of Singapore Limited, which "DBS" was derived from, before the present abbreviated name was adopted on 21 ... DBSBank FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Singaporeanmultinationalbankingandfinancialservicescompany DBSBankLimitedDBSBankheadquartersinMarinaBay,SingaporeFormerlyTheDevelopmentBankofSingaporeLimited(1968–2003)TypePublicTradedasSGX:D05IndustryBankingPredecessorFinancingdivisionoftheEconomicDevelopmentBoardFounded16 July1968;54yearsago (1968-07-16)Headquarters12MarinaBoulevard,MarinaBayFinancialCentreTower3,Singapore018982AreaservedWorldwideKeypeoplePeterSeah(Chairman)PiyushGupta(CEO)ProductsFinancialservicesServicesRetailbanking,corporatebanking,investmentbanking,mortgageloans,privatebanking,wealthmanagement,creditcards,financeandinsuranceRevenueUS$10.28billion(2016)[1]OperatingincomeS$6.517billion(2016)NetincomeUS$4.95billion(2019)TotalassetsUS$501.9billion(2019)[2]Numberofemployees33,000(2021)[3]Subsidiaries POSBBank PTBankDBSIndonesia(BankDBSIndonesia) DBSBank(HongKong)Limited DBSVickersSecuritiesHoldingsPte.Ltd NETS DBSBank(Taiwan)Ltd. DBSBank(China)Limited DBSAsiaHub2PrivateLimited DBSBankLtd.LondonBranch PrimefieldCompanyPteLtd. DBSBankLtd.AustraliaBranch DBSBankLtd.LabuanBranch PTDBSSecuritiesIndonesia KensonAsiaLtd. VickersBallasAssetManagementPteLtd. SaltePteLtd. DBSVickersSecurities(HongKong)Limited DBSInsuranceAgency(Taiwan)Limited VickersBallasInvestmentManagementLtd. DBSBankLtd.,ResearchDivision DBSVickersSecurities(Malaysia)PteLtd.[4] RatingMoody's:Aa1S&P:AA-Fitch:AA-Websitedbs.com.sg DBSBankLimited,oftenknownasDBS,isaSingaporeanmultinationalbankingandfinancialservicescorporationheadquarteredattheMarinaBayFinancialCentreintheMarinaBaydistrictofSingapore.ThebankwaspreviouslyknownasTheDevelopmentBankofSingaporeLimited,which"DBS"wasderivedfrom,beforethepresentabbreviatednamewasadoptedon21July2003toreflectitsroleasaglobalbank.[5]Itisoneofthe"BigThree"banksinSingapore,alongwithOCBCBankandtheUnitedOverseasBank(UOB). ListedontheSingaporeExchange,thebankwassetupbytheGovernmentofSingaporeon16July1968totakeovertheindustrialfinancingactivitiesfromtheEconomicDevelopmentBoard.Today,itsmorethan150branchescanbefoundthroughoutthecountry.DBSisthelargestbankinSoutheastAsiabyassetsandamongthelargestbanksinAsia,withassetstotalingaboutUS$501billion(S$650billion)asof31December2019.Italsoholdsmarket-dominantpositionsinconsumerbanking,treasuryandmarkets,assetmanagement,securitiesbrokerage,equityanddebtfund-raisinginotherregionsasidefromSingapore,includinginChina,HongKong,Taiwan,IndonesiaandSouthKorea. DBS'slargestandcontrollingshareholderisTemasekHoldings,Singapore'ssecond-largestsovereignwealthfundafterGIC.Asof31March2018,Temasekowns29%ofDBSshares.[6]Thebank'sreliablecapitalpositionhasgarnereda"AA−"and"Aa1"creditratingsbyStandard&Poor'sandMoody's,whichareamongthehighestintheAsia-Pacificregion,aswellasearningtheGlobalFinance's"SafestBankinAsia"accoladeforsixconsecutiveyears,from2009to2015.[7][8]TheBankwasalsoawardedtheBestDigitalBankintheWorldin2016byEuromoney.[9]InJuly2019,DBSbecamethefirstbankintheworldtoconcurrentlyholdthreeofthemostprestigiousglobalbestbankhonoursfromEuromoney,GlobalFinanceandTheBanker.[10] DBShasbeenlistedontheDowJonesSustainabilityAsiaPacificIndexsince2October2018,makingitthefirstbankinSoutheastAsiatodoso.[11]DBSwasoneofthefirstcompaniesinSingaporetoberecognisedforgenderequalityeffortsalongwithCityDevelopmentsLimitedinthefirstBloombergL.P.Gender-EqualityIndex(GEI)thatwaspublishedin2018.[12]Withoperationsin17markets,thebankhasaregionalnetworkspanningmorethan300branchesandover1,250ATMsacross50citiesoverseas.[8] Contents 1History 1.1AcquisitionofPOSBBank 2Shareholders 3Internationaloperations 3.1China 3.2HongKong 3.3India 3.4Indonesia 3.5Taiwan 4TheIslamicBankofAsia 5DBSiBSecureDeviceandInternetbanking 6Mobilebanking 7Awards 8References History[edit] Establishedon16July1968bythegovernmenttotakeovertheindustrialfinancingactivitiesfromtheEconomicDevelopmentBoard,[13]thebank'smainpurposewastoprovideloansandfinancialaidtothemanufacturingandprocessingindustriesandtohelpestablishandupgradeexistingindustriesinSingapore.[citationneeded]Backin1960,thegovernmentinvitedaUnitedNations(UN)industrialsurveymissiontoassesstheeconomicsituationinSingaporeandtocomeupwithanindustrializationprogrammeforthecity.[14]Theproposalincludedsettingupadevelopmentbank,togetherwithaneconomicbodytoattractforeigninvestmentsandprovidefinancingandmanagingtheindustrialestates.ThebankwasincorporatedinJuly1968andbeganoperationsinSeptemberofthesameyear.[13] AcquisitionofPOSBBank[edit] Mainarticle:POSBBank FormerlyknownasPostOfficeSavingsBank,itwasestablishedon1January1877attheGeneralPostOfficeBuildinginRafflesPlacebytheStraitsSettlementsgovernment.[15] By1976,POSBhadonemilliondepositors,whiledepositscrossedtheS$1 billionmark.ThebankwasthenrenamedPOSBankin1990,beforebeingacquiredbyDBSBankon16November1998forS$1.6 billion(firstannouncedon24July1998),[16][17]givingitadominantmarketsharewithoverfourmillioncustomers.[18] POSBBankstilloperatesoneofthehighestnumbersofbankbranchesinSingapore,especiallyintheheartlands,andoperatesthehighestnumberofATMoutletsthroughoutthecountry.Theintegrationofbothbanksallowedcustomersofeitherbanktosharethefacilities;DBSBankdepositorsmayusetheCashDepositMachineinstalledislandwideinPOSBankbranches,likewiseforPOSBBankdepositors.[19] Shareholders[edit] Thetenlargestshareholdersasof9February2021are:[20] NameofShareholders No.ofShareholdings %* 1. CitibankNomineesSingaporePteLtd 507,226,956 19.88 2. MajuHoldingsPteLtd 459,259,376 18.00 3. DBSNomineesPteLtd 438,125,577 17.17 4. TemasekHoldings(Private)Ltd 284,145,301 11.14 5. DBSNServicesPteLtd 284,145,301 9.07 6. HSBC(Singapore)NomineesPteLtd 140,783,921 5.52 7. RafflesNominees(Pte)Ltd 83,383,130 3.27 8. BPSSNomineesSingapore(Pte)Ltd 22,338,651 0.88 9. LeeFoundation 11,372,365 0.45 10. UnitedOverseasBankNomineesPteLtd 11,242,723 0.44 *Percentageiscalculatedbasedonthetotalnumberofissuedordinaryshares,excludingtreasuryshares TemasekHoldings(Pte)Ltd,acompanywhollyownedbytheMinistryofFinance,isdeemedtobeinterestedinalltheordinarysharesheldbyMaju.Inaddition,Temasekisdeemedtobeinterestedin4,449,781ordinarysharesinwhichitsothersubsidiariesandassociatedcompanieshaveoraredeemedtohaveaninterestpursuanttoSection4oftheSecuritiesandFuturesAct,Chapter289. Internationaloperations[edit] DBSBankhasbranchesandofficesinAustralia,China,HongKong,India,Indonesia,Japan,SouthKorea,Malaysia,Myanmar,thePhilippines,Taiwan,Thailand,theUnitedArabEmirates,theUnitedKingdom,theUnitedStatesandVietnam. China[edit] StrategicallylocatedinthekeytradeandfinancialhubsofmainlandChina,DBShasanetworkoffullservicebranchesinBeijing,Guangzhou,Shanghai,Shenzhen,Suzhou,Tianjin,Dongguan,NanningandHangzhou;andrepresentativeofficesinFuzhouwhichprovideacomprehensiverangeofcommercialandcorporatebankingservices.InDecember2006,DBSBankreceivedapprovalfromtheChinaBankingRegulatoryCommission(CBRC)toprepareforlocalincorporationinMainlandChina.DBSistheonlySingaporebankamongnineforeignbankstoreceivethisapproval.In2010,italsobecamethefirstSingaporebanktoissueUnionPaydebitcardsinmainlandChina. HongKong[edit] Mainarticle:DBSBank(HongKong) DBSstarteditsoperationsinGreatHongKongin1999byacquiringKwongOnBankfromLeung'sfamily&Japanese-basedFujiBank,andrenameditasDBSKwongOnBankLimited.ItacquiredDaoHengBank(anditssubsidiaryOverseasTrustBank)in2001.ThethreebankswerelatermergedunderthetradingnameofDBSBank(HongKong)Limited. India[edit] HeadquarteredinthecommercialcapitalofMumbai,DBSoperatesviaanetworkof33bankbranchesacross22citiesinIndiasuchasBangalore,Chennai,Cuddalore,Kochi,Hyderabad,Kolhapur,Kolkata,Coimbatore,Moradabad,Indore,Mumbai(Andheri,NarimanPoint),Nashik,NewDelhi,Noida,Gurugram,Pune,Salem,SuratandVadodara.[21]DBSIndiahada37.5%stakeinDBSCholamandalamFinance,anon-bankfinancialinstitution,inApril2009,ittransferreditssharestotheparentcompanyTubeInvestmentsofIndiaLimited,thusterminatingitssharedholderagreementinCholamandalamDBS.On17November2020,ReserveBankofIndiainstructedLakshmiVilasBank(LVB)tobemergedwithDBSIndiaafterLVBhavingplacedundermoratoriumfor30days.[22] Indonesia[edit] DBShasa99%-ownedsubsidiary,PTBankDBSIndonesia,with39branchesandsub-branchesin11cities. On2April2012,DBSannouncedthatitwasplanningtobuyoveramajoritystakeinBankDanamonfromTemasekHoldings.[23][24]InitialreactionstotheproposedpurchaseinIndonesiawerecautiouswithmostcommentatorssayingthatthedealwasexpectedtobeapprovedbutthatgovernmentregulatorswoulddoubtlesswishtolookatsomeofthedetails,includingreciprocityfromSingaporepolicymakers,quitecloselybeforemakingafinaldecision.[25] On31July2013,DBSannouncedthatithadallowedtheBankDanamonbidtolapse,butthattheyremainedcommittedtoIndonesiaandwillcontinuetoinvestandgrowthefranchise.[26] Taiwan[edit] DBSfirstestablishedapresenceinTaiwanin1983. InMay2008,DBSintegratedTaiwan'sBowaBankintoitsoperationsafteracquiringthe"goodbankassets"inFebruary.Thereare40distributionoutletsacrossthecountry,halfofwhicharebasedinTaipei. InJanuary2022,DBShasagreedtobuyCiti'sTaiwanretailbusinessasitbecomesthelargestforeignbankinTaiwanbyassets.[27] TheIslamicBankofAsia[edit] Mainarticle:TheIslamicBankofAsia DBSBanklaunchedTheIslamicBankofAsia(IBAsia)on7May2007,afterreceivingofficialapprovalfromtheMonetaryAuthorityofSingaporeforafullbanklicence.IBAsia'sfoundingshareholdersincludemajoritystakeholderDBSand34MiddleEasterninvestorsfromprominentfamiliesandindustrialgroupsfromGulfCooperationCouncil(GCC)countries.[28][29] On14September2015,DBSBankannouncedthatitwillprogressivelyceaseIBAsiaasitwasnotabletoachieveeconomiesofscalewhenoperatedasasingleentity.Theprocesswasestimatedtotakeabout2to3years,[30]withDBSBankdevelopingtheirIslamiccompliantbankingproductsinstead. DBSiBSecureDeviceandInternetbanking[edit] Startinginlate2006,thebankbeganreleasingtoitsInternetbankingcustomersaDualFactorAuthenticationdevicetoassistinthwartingphishingattacks.TheDBSiBSecureDeviceisahardwaredevicewithakeyfobformfactorthatgeneratesapasswordthatislinkedtothelog-onname.Thepasswordchangeseverysixtysecondsandonceusedisnolongervalid.TheinstitutionCodeforDBSis7171. In2012,DBSintroducedaNewGenerationIBSecureDeviceaspartofthefinancialindustry-wideinitiativeforanevensaferonlinebankingexperience.Thedevicehasstrongerauthenticationcapabilitiesandprovidesuserswithanextralayerofsecurityagainstpotentialfraudulentactivitiesandthreats.[31] DBShasatotalof2.4 millionInternetbankingusersinSingaporeasof2013.[32] Mobilebanking[edit] On15April2010,DBSBanklaunchedmBankingtobothDBSandPOSBcustomers.Itallowscustomerstoviewtheirbankingandcreditcardaccounts,transferfundsandpaybillsviatheirmobilephones. CustomersusingmBankingwillbeprotectedbyDBSBank's'money-safe'guarantee.Thebankpromisedreimbursementsifthereareanyunauthorisedtransactions.[33] Asof2013,therewere839,000mBankingusersinSingapore.[32][needsupdate] Awards[edit] BestSMEBankingBrandinTaiwanawardedbyGlobalBrandsMagazine.[34] BestCustomerServiceBrandinTaiwanawardedbyGlobalBrandsMagazine.[34] World'sBestBank,byGlobalFinance(NewYork).[35] GlobalBankoftheYear,byTheBanker(FinancialTimes).[36] Asia'sBestBankForSMEs2022.[37] References[edit] ^"DBSAnnualReport2016"(PDF). ^"TheWorld'sBiggestPublicCompanies".Forbes. ^"DBSAnnualReport2021"(PDF). ^DBSBankSubsidiaries,retrieved13August2021 ^"TheDevelopmentBankOfSingaporeLtdisNowDBSBankLtd".DBSBank.21July2003.Archivedfromtheoriginalon14July2014.Retrieved3October2020. ^"Temasek>OurPortfolio>FinancialServices".Temasek.Temasek.Retrieved22March2019. ^"2015AnnualReport"(PDF). ^ab"DBSissafestbankinAsiaforsixthconsecutiveyear". ^"World'sbestdigitalbank2016:DBS@Euromoney".Euromoney.Retrieved24April2017. ^"DBSnamedWorld'sBestBankbyEuromoney,afirstforanAsianbank".TheStraitsTimes.12July2019. ^"DBS–FirstbankinSoutheastAsiaincludedinDowJonesSustainabilityIndex(AsiaPacific)".DBS.2October2018.Retrieved24September2019. ^"DBS,CDLamongfirmsrecognisedforgender-equalityeffortsonBloombergindex".CNA.23January2018.Retrieved6June2020. ^abDevelopmentBankofSingaporeLtd.(1969).Firstannualreport1968(p.4).Singapore:DevelopmentBankofSingaporeLtd. ^UnitedNations.(1963).AproposedindustrializationprogrammefortheStateofSingapore(pp.1–3,118–123).Singapore:U.N.CommissionerforTechnicalAssistance,Dept.ofEconomicandSocialAffairs.Callno.:RCLOS338.095951UNI. ^"EstablishmentofThePostOfficeSavingBank".NationalLibraryBoard.Retrieved13September2015. ^"MinistryofFinancePressStatement:PrivatisationofPOSBank".NAS.24July1998.Retrieved3October2020. ^"TheDevelopmentBankofSingaporeLtdtoacquirethebusinessundertakingofthePostOfficeSavingsBankofSingaporestrengtheningitspositionasthelargestSoutheastAsianbankwithtotalassetsofapproximately$93billion".DBSBank.24July1998.Archivedfromtheoriginalon19October2006.Retrieved29September2019. ^"DBSBankcompletesPOSBankandcreditPOSBacquisition".DBSBank.16November1998.Archivedfromtheoriginalon18October2006.Retrieved29September2019. ^"DBSBankSingapore »BanksinSG.COM".BanksinSG.COM.3November2019.Retrieved17April2020. ^"DBSAnnualReport2020"(PDF). ^"DBSBankBranchesandATMs|DBSBankIndia".www.dbs.com.Retrieved31July2019. ^"LakshmiVilasBankUnderRBIMoratorium,ToBeMergedWithDBSIndia".BloombergQuint.Retrieved17November2020. ^Azhar,Saeed;Lim,Kevin(2April2012)."DBStopay$7.2billionforIndonesia'sBankDanamon".Reuters.Retrieved1October2019. ^"DBSmindfulofpossibleheadwindstoBankDanamondeal".ChannelNewsAsia.Retrieved11April2012. ^EstherSamboh,'DBS'confident'ofapprovalforDanamontakeover',TheJakartaPost,12April2012. ^"Livemore,Bankless|DBSBank". ^"DBStobuyCiti'sTaiwanretailbusinessandtakeover3,500staff". ^"DBSBankandprominentMiddleEasterninvestorslaunchTheIslamicBankofAsia".DBS.7May2007.Archivedfromtheoriginalon5March2008.Retrieved24September2019. ^"DBSinvests$380min'S'pore'sfirstIslamicbank".TheStraitsTimes(retrievedfromNLB).8May2007.Retrieved6August2019. ^"DBStowinddownIslamicbankingunit".TheStraitsTimes.15September2015.Archivedfromtheoriginalon23April2019.Retrieved6August2019. ^"DBSonlinebanking-SkipvisitstoDBSbranches|DBSSingapore". ^ab"DBSKeyHighlights–Customer"(PDF). ^"DBSlaunchesmobilebanking".AsiaOne.Archivedfromtheoriginalon18April2010. ^ab"AWARDWINNERS2015". ^"DBSnamedworld'sbestbankinnodtoitsdigitalinnovation".TheStraitsTimes.27August2018. ^"DBSnamedglobalbankoftheyearbyFTpublication".TheStraitsTimes.1December2018. ^"DBSBankhasbeenhonouredwithAsia'sBestBankForSMEs2022".Euromoney. vteBankinginSingapore ListofbanksinSingapore MinistryofFinance MonetaryAuthorityofSingapore Localbanks 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UniondeBanquesArabesetFrancaises WooriBank Interbanknetworksandpaymentsystems atm5 EZ-Link NETS PayNow 1SubsidiaryofOCBCBank. 2OperatesunderUOB'sbrandname. 3SubsidiaryofDBSBank. vteSelectedFTSESTIcompaniesofSingaporeCurrent CapitaLand(IntegratedCommercialTrust*Investment) CityDevelopments ComfortDelGro DairyFarmInternationalHoldings DBSGroup FrasersLogistics&CommercialTrust GentingSingapore HongkongLand JardineCycle&Carriage JardineMatheson KeppelCorp-KeppelDCREIT Mapletree(CommercialTrust*IndustrialTrust*LogisticsTrust) OCBCBank SATS Sembcorp SingaporeAirlines SingaporeExchange STEngineering SingaporeTelecommunications ThaiBeverages UnitedOverseasBank WilmarInternational Previous CapitaLand CapitaComTrust GoldenAgri-Resources HutchisonPortHoldings JardineStrategicHoldings NobleGroup SembcorpMarine SIAEngineering StarHub correctasof3January2022 Portals: Companies Banks Businessandeconomics Singapore AuthoritycontrolGeneral ISNI 1 VIAF 1 2 WorldCat 2 Nationallibraries Israel UnitedStates 2 Retrievedfrom"https://en.wikipedia.org/w/index.php?title=DBS_Bank&oldid=1102120524" Categories:1968establishmentsinSingaporeDBSBankBanksestablishedin1968BanksofSingaporeCompanieslistedontheSingaporeExchangeMultinationalcompaniesheadquarteredinSingaporeSingaporeanbrandsSingaporeancompaniesestablishedin1968TemasekHoldingsHiddencategories:ArticleswithshortdescriptionShortdescriptionisdifferentfromWikidataUsedmydatesfromFebruary2017EngvarBfromFebruary2017UseSingaporeEnglishfromNovember2021AllWikipediaarticleswritteninSingaporeEnglishAllarticleswithunsourcedstatementsArticleswithunsourcedstatementsfromJune2022WikipediaarticlesinneedofupdatingfromDecember2021AllWikipediaarticlesinneedofupdatingArticleswithISNIidentifiersArticleswithVIAFidentifiersArticleswithWORLDCATIDidentifiersArticleswithJ9UidentifiersArticleswithLCCNidentifiersArticleswithmultipleidentifiers Navigationmenu Personaltools NotloggedinTalkContributionsCreateaccountLogin Namespaces ArticleTalk English Views 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