DBS Bank - Wikipedia

DBS Bank Limited, often known as DBS, is a Singaporean multinational banking and financial services corporation headquartered at the Marina Bay Financial ... DBSBank FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Singaporeanmultinationalbankingandfinancialservicescompany DBSBankLimitedDBSBankheadquartersinMarinaBay,SingaporeFormerlyTheDevelopmentBankofSingaporeLimited(1968–2003)TypePublicTradedasSGX:D05IndustryBankingPredecessorFinancingdivisionoftheEconomicDevelopmentBoardFounded16 July1968;53yearsago (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]Numberofemployees24,174(2017)[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 3.1.1MainlandChina 3.1.2HongKong 3.2India 3.3Indonesia 3.4Taiwan 4TheIslamicBankofAsia 5DBSiBSecureDeviceandInternetbanking 6Mobilebanking 7Awards 8References History[edit] Establishedon16July1968bythegovernmenttotakeovertheindustrialfinancingactivitiesfromtheEconomicDevelopmentBoard,[13]thebank'smainpurposewastoprovideloansandfinancialaidtothemanufacturingandprocessingindustriesandtohelpestablishandupgradeexistingindustriesinSingapore. 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] MainlandChina[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,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] References[edit] ^"DBSAnnualReport2016"(PDF). ^"TheWorld'sBiggestPublicCompanies".Forbes. ^"DBSAnnualReport2017"(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. vteBankinginSingapore ListofbanksinSingapore MinistryofFinance MonetaryAuthorityofSingapore Localbanks BankofSingapore1 DBSBank FarEasternBank2 Oversea-ChineseBankingCorporation POSBBank3 SingaporeIslandBank1 TheIslamicBankofAsia(Defunct)3 UnitedOverseasBank ForeignbanksQualifyingfullbanks BankofChina BNPParibas CitibankSingapore HSBCBank ICICIBank IndustrialandCommercialBankofChina Maybank StandardChartered StateBankofIndia Fullbanks BangkokBank BankNegaraIndonesia BankofAmerica BankofEastAsia BankofIndia CIMBBank Citibank CréditAgricoleCorporateandInvestmentBank HongLeongBank IndianBank IndianOverseasBank JPMorganChase MizuhoBank RHBBank SumitomoMitsuiBankingCorporation MUFGBank UCOBank Wholesalebanks ABNAMRO AgriculturalBankofChina BancoBilbaoVizcayaArgentaria BancoSantander BankJuliusBaer BankofCommunications BankofNovaScotia Barclays BNPParibas BylineBank ChinaCITICBank ChinaConstructionBank ChinatrustCommercialBank Commerzbank CommonwealthBank CréditIndustrieletCommercial CreditSuisse DeutscheBank DnBNORDBank DZBankAGSingaporeBranch EmiratesNBD FirstGulfBank HabibBank HSBCPrivateBank(Suisse) INGBank KBCBank KoreaExchangeBank LandesbankBaden-Württemberg MacquarieBank MegaInternationalCommercialBank MorganStanley NationalAustraliaBank NationalBankofKuwait Natixis NorddeutscheLandesbank NorthernTrust Portigon QatarNationalBank Rabobank RoyalBankofScotland SociétéGénérale SociétéGénéraleBank&Trust StateStreetBankandTrustCompany UBS UniCredit VTBCapital WellsFargo Westpac Offshorebanks ArabBank BankHapoalim BankMandiri BankofBaroda BankofTaiwan BankSarasin&CIE BNYMellon CanadianImperialBankofCommerce ChangHwaCommercialBank Clearstream CréditAgricole HanaBank HangSengBank HSHNordbank HuaNanCommercialBank KoreaDevelopmentBank KrungThaiBank LandBankofTaiwan LloydsBank MitsubishiUFJTrustandBankingCorporation NordeaBankFinland NorinchukinBank PhilippineNationalBank RaiffeisenBankInternational RoyalBankofCanada ShinhanBank SiamCommercialBank SkandinaviskaEnskildaBanken StandardBank SumitomoMitsuiTrustBank SvenskaHandelsbanken Toronto-DominionBank UniondeBanquesArabesetFrancaises WooriBank Interbanknetworksandpaymentsystems atm5 NETS EZ-Link 1SubsidiaryofOCBCBank. 2OperatesunderUOB'sbrandname. 3SubsidiaryofDBSBank. vteSelectedFTSESTIcompaniesofSingaporeCurrent CapitaLand(IntegratedCommercialTrust*Investment) CityDevelopments ComfortDelGro DairyFarmInternationalHoldings DBSGroup FrasersLogistics&CommercialTrust GentingSingaporePLC HongkongLandHoldings JardineCycle&Carriage JardineMathesonHoldings KeppelCorp-KeppelDCREIT Mapletree(CommercialTrust*IndustrialTrust*LogisticsTrust) OCBCBank SATS SembcorpIndustries SingaporeAirlines SingaporeExchange STEngineering SingaporeTelecommunications ThaiBeverages UnitedOverseasBank WilmarInternational Previous CapitaLand CapitaComTrust GoldenAgri-Resources HutchisonPortHoldings JardineStrategicHoldings NobleGroup SembcorpMarine SIAEngineering StarHub correctasof3January2022 Portals:CompaniesBanksBusinessandeconomicsSingapore AuthoritycontrolGeneral ISNI 1 VIAF 1 2 WorldCat 2 Nationallibraries UnitedStates 2 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