Euromoney has named DBS the best bank in Asia for the second year in a row in its Awards for Excellence 2020.
“Every conversation about the Singapore lender starts and ends with its digital transformation journey, and for good reason. DBS describes it as ‘one of the most comprehensive for a bank anywhere in the world’ – and it is hard to argue the point,” the magazine said.
Everything at DBS is built with disruption in mind, as well as with care and forethought. Rarely do these attributes overlap – there is never a sense that DBS is doing something for the sake of it. But digital is also a means to an end. It is used to make the bank work better and to help its clients, from retail customers to SMEs to corporates and sovereigns.
Citi is named best investment bank in Asia this year. Its strength, from retail banking to wealth management, is undeniable. But a key factor working in its favour is the institutionalization of Asian firms.
“More than ever, the region’s big multinationals are run by boards rather than single promoters, and this works to the benefit of a universal lender such as Citi, which likes to find good young firms, bank them as soon as possible and let their fortunes develop,” Euromoney observes.