DBS has demonstrated significant progress through its global connectivity strategy focusing on strategically selected gateway cities. By establishing local real estate teams in these key locations, DBS effectively supported clients as they expanded and diversified their operations. This targeted approach has been instrumental in driving the bank’s compound annual growth rate by 10% from fiscal year 2015 to 2023.
In the face of a challenging 2023, marked by a 30% decline in real estate transaction volumes within the bank’s key locations, DBS demonstrated resilience by achieving year-on-year growth in both its income and asset base. The return on equity in its real estate segment rose from 12.8% to 15.1%.
The bank has notably strengthened its presence in its priority UK and Australia markets. It projects a 20% year-on-year increase in both countries, thanks to formidable client acquisition and retention.
Client satisfaction and retention have been notable areas of strength for DBS, as evidenced by results in the latest Greenwich survey, in which 72% of customers cited DBS as their preferred banking provider, an increase from 69% in 2023.