DBS Bank is a multinational banking and financial services corporation headquartered in Marina Bay Financial Centre Tower 3 Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank.
The bank was set up by the Government of Singapore in July 1968 to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering more than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$518 billion as at 31 Dec 2017. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong. DBS Bank’s largest, and controlling, shareholder is Temasek Holdings, Singapore’s second largest sovereign wealth fund (after GIC). As of 31 March 2018 Temasek owns 29% of DBS’ shares. The bank’s strong capital position, as well as “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the highest in the Asia-Pacific region, earned it Global Finance’s “Safest Bank in Asia” accolade for six consecutive years, from 2009 to 2015. The Bank was also awarded the Best Digital Bank in the World in the year 2016 by Euromoney. With operations in 17 markets, the bank has a regional network spanning more than 250 branches and over 1,100 ATMs across 50 cities.
Global Finance named DBS as the world’s best bank for 2018.