DBS wins the award for Taiwan’s best international private bank in recognition of the quality of its services and its leading market position in the country.
This was evident across many of the key areas that comprise the bank’s private banking and wealth management offering in Taiwan, particularly in sustainability, for which it also won an award this year.
Critical to DBS’ leadership as a foreign bank was the integration of Citi’s Taiwan consumer banking business last year, a transformational deal that more than doubled DBS’s local customers to over 1.1 million and tripled assets under management to over S$12 billion.
The quality of the services and advice DBS provides wealthy clients is another differentiator for it in Taiwan
Besides the bank’s size, the quality of the services and advice DBS provides wealthy clients is another differentiator for it in Taiwan. Some standout developments during the awards period included the launch of a 24/7 FX leave order function – a request to buy or sell a currency pair at a specific price – and equity and exchange-traded fund trading capabilities on its online and mobile platforms.
Responding to client needs, the bank also made a series of enhancements to its investment research, which included launching a quarterly asset allocation advice paper and a weekly investment guide.