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LATEST ARTICLES
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The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.
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For its impressive commitment to this issue in the country, DBS wins the award for Taiwan’s best for sustainability.
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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.
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DBS wins the award for Singapore’s best domestic private bank for the second consecutive year in recognition of its regional expertise, as well as the strength and sophistication of its wealth management offering.
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DBS wins the award for its strength and innovative leadership in serving family office clients in Singapore.
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DBS wins the award for its expertise in succession planning.
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DBS wins this award for the strength and sophistication of its digital solutions.
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DBS wins this award for best international private bank in Hong Kong in recognition of the quality and breadth of its services and its distinctive regional expertise.
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In a year that has seen Asia's financial institutions face mounting pressures from geopolitical headwinds, DBS retains its mantle as Asia’s best private bank 2024. This award comes in tandem with two other regional honours: best for family office services and best for high net-worth (HNW) individuals. Its managing director and group head is Joseph Poon.
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With Singapore's ascent to a prominent hub for family offices in Asia, DBS has made quick work of establishing itself as a leading player in the region.
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This year, DBS has been named Asia’s best private bank for high-net-worth individuals, a testament to its innovative approach in this competitive wealth-management sector.
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Competition in the high net-worth category is fierce: every private bank targets HNW customers, with the aim of making as many as possible of them long-term customers.
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In 2023, Singapore attracted S$12.7 billion ($9.43 billion) in fixed asset investments, amid a challenging global environment, according to data from the country’s economic development board. The previous year it was even higher, at S$22.5 billion.
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It has become fashionable to describe private credit as an opaque and fast inflating bubble that could bring crisis to the global financial system. But in Asia even banks and regulators hope it will grow to bridge the yawning financing gap.
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Singapore’s DBS Bank has spent the past decade transforming itself into one of the world’s best digital banks. But a series of lengthy service outages over the past year has wrongfooted senior management, who have been left to issue apologies and pledge to do better.
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With a presence in 19 markets globally, including Singapore, Hong Kong, China, India and the US as well as Europe, DBS delivered a record total income of S$16.5 billion ($12 billion) in 2022, a 20% increase in net profits to S$8.19 billion, return on equity of 15% and S$20.5 billion in sustainable financing loans.
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Singapore is Asia’s leading private banking hub – and at the heart of that story is DBS, a bank that has remade itself over the past decade and a half into one of the world’s best wealth managers.
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Analysts tracking the trajectory of Asian wealth and trends around gross domestic product are free to peruse government data, surveys and all available reports. Yet some of the most telling clues as to what is going on in this fast-growing region can be found inside the balance sheet of DBS Private Bank.
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DBS, JPMorgan and Japan’s SBI combined to launch a groundbreaking decentralized finance trade stewarded by the Monetary Authority of Singapore. It was a great deal of work, but to what end?
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The Singaporean bank has launched sector-specific decarbonization commitments it says are industry-leading. For them to be achieved, the bank’s corporate client base is going to need to make changes, too.
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More awareness by corporates of the role played by small suppliers has boosted early payment programmes.
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Always a strong player in small and medium-sized enterprise banking, DBS enjoyed a stellar year driven by digital investments, careful credit management and great progress in India.
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Best Bank: DBS Bank
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The wealth management award is in some measure a decision about a model as much as a bank. For the last few years, we have tended to reward the big Swiss houses, UBS and Credit Suisse, who have scale, history and the advantages of being part of a larger bank. In other years, we might consider the Swiss pure-play model, the ultra-high net-worth-only model, the mass-affluent approach.
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The bank is successfully exporting its SME expertise and advanced financial technology across Asia.
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DBS has taken the boldest step yet in digital DCM, encouraging corporate and financial borrowers to self-issue commercial paper direct to investors. Volumes are strong. The next step, longer-dated bonds, will come soon.
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The blockchain-based cross-border payments platform will operate across 15 countries.
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DBS’s purchase of Citi’s local consumer business in January was a timely reminder of Taiwan’s allure. Yes, the island lies on a geopolitical fault line and the banking sector is crowded. But it’s also profitable and now welcomes digital disruption.
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The censure from the Monetary Authority of Singapore will sting far more than any capital impact for a bank that prides itself on being a peerless digital innovator.
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Of all the 13 consumer businesses on the block in Citi’s Asia revamp, Taiwan was the most prized. DBS’s successful bid bolsters an already profitable business – and doing so required some hard thinking about geopolitics by the Singapore bank’s board.
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Will the bank’s payouts after a phishing scam set a precedent?
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Covid barely dented the strength of the banking system and most banks have been steadily releasing the provisions they took. Euromoney talks to the leaders of our 25 reviewed banks and others about the challenges they face as the world normalizes.
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Piyush Gupta thinks the worst is behind us and now is the time for the bank to start looking at China.
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The digital pioneer’s consumer website and mobile app have been hit by a series of problems.
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A flurry of new services, including DBS Digital Exchange and Climate Impact X, have kept the Singaporean lender in pole position.
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It’s a sign of a well-run bank when it not only survives a pandemic largely unscathed but uses it as an opportunity to gain ground. Characteristically, DBS’s Piyush Gupta not only kept the bank on course but used the crisis to make two potentially transformative acquisitions, launch two new exchanges and think afresh about what banking should look like.
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Singapore’s DBS has unleashed an unlikely new weapon against impersonation scams: a strange blue-haired man called Kim Huat.
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High net-worth individuals once eschewed cryptocurrencies. When Covid hit, many learned to embrace them. They see the danger of endless QE and the returns to be generated in the world of decentralized finance.
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Court documents relating to fraud charges against a young and flamboyant Singapore trader show that most of the country’s banks have had a relationship with him.
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DBS’s digital capability was tested to the core by Covid, and it not only stepped up but turned the situation to its advantage. From consumer to institutional, DBS used the opportunity to convert clients to digital channels, benefiting from improved economics as it did so. Before long the government was counting on the bank to disburse emergency payments to those under stress.
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DBS retains the award for Asia’s best bank for its outstanding response to the Covid-19 crisis.
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As provider to the London Stock Exchange and DBS on digital new issue platforms, Nivaura is laying the foundations for the future of DCM.
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The two banks plus Singapore’s stock exchange and sovereign wealth vehicle believe they have the collective strength and skills to build Climate Impact X, based initially on southeast Asian forestry and mangrove projects.
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DBS’s deal to buy 13% of a young and privately owned bank in Shenzhen highlights not only China’s vast growth opportunities post-Covid but also the potential of the cross-border Greater Bay Area.
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Clubhouse, the San Francisco-based app, is the cool new thing, a unicorn valued at more than $1 billion. On Friday in Singapore, a group of DBS analysts and economists got together on the audio-only platform to discuss the future of electric vehicles. The debate was chatty and inclusive, and a sign of things to come.
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The full-year results of DBS, OCBC and UOB marked the first time in a year the Singaporean banks had attempted to give any kind of media briefing face-to-face.
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OCBC, UOB and DBS are among the first lenders in Asia to report 2020 numbers. They’re in surprisingly good shape.
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The bank’s full-year results for 2020 suggest bad-loan generation is manageable and that brighter times lay ahead – but we still do not know the whole story about borrowers under moratoria.
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DBS has suffered, but its model looks well placed in this environment.
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DBS asked Euromoney to join the machine-learning training it gives to thousands of its employees, which includes how to programme your own autonomous racing car. It’s all about getting staff to understand one another.
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Joseph Poon is group head of DBS Private Bank, one of Asia’s leading wealth managers. But the event that drives him today, informing his values and his views on investing and risk management, was stepping aboard a rickety raft in 1976 to flee an impoverished and divided Vietnam.
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As expected, DBS and UOB reported dramatic year-on-year declines in profitability, but both were protected by their range.
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DBS reaffirms its best bank status in the region in this year’s Euromoney Awards for Excellence.
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When Singapore suffered a second spike in coronavirus cases in April, attention turned to the city state’s migrant labourers, an army of essential workers described by a former head of the National University of Singapore’s Saw Swee Hock School of Public Health as society’s “most invisible” members.
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It is hard to find a bank with greater integrity than DBS. Its commitment to responsible banking, sustainable finance, running a responsible business and creating social impact are obvious; and this year it wins the award for Asia’s best bank for corporate responsibility.
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DBS takes the award for Asia’s best bank for transaction services this year.
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DBS is a bank at the top of its game. For the second year in a row, it not only wins the best bank in Asia award but canters away with it at high speed.
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Supply chain disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
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Piyush Gupta, head of Singapore’s DBS Bank, tells Euromoney that scrapping dividends now is a mistake, discusses the mental stress of working from home, and says a multi-year recovery will hit banks hard and lead to mergers and job losses.
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Relief for corporates reeling from the coronavirus will be the bank’s top focus for some time, says its global head of transaction banking.
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DBS’s chief executive has transformed it into a globally respected bank and a leader in digital finance. What’s next for the Singapore-based lender? It sees an open door to becoming a truly pan-Asian financial institution, with sustainability at its core
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Retail banking has been disrupted. Now comes wholesale’s moment, as banks shift into a higher gear to meet the increasingly onerous demands of digitally connected corporates. Only the best and most adaptable firms are likely to survive.
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DBS evacuated 300 employees from Tower 3 of Singapore’s Marina Bay Finance Centre, after an employee tested positive for coronavirus. It comes as banks across the region re-examine worst-case scenarios as the pathogen spreads.
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Despite tough conditions at home and globally, DBS keeps delivering.
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The bank's group head, global transaction banking says: 'We want to open up the transaction banking landscape.'
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HSBC retains the top spot in Euromoney’s cash management survey.
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DBS regains the best bank in Asia award it first won three years ago, for showing how innovation, digital vision and creative thinking can not only sound good but also translate into record profits and resilient margins.
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The Singapore-based bank has developed into a business fit for purpose in the modern world. Is this the model for the bank of the future?
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Almost 10 years into his role as chief executive of Singapore-based DBS, Piyush Gupta has spent the last six of them on a mission to make an institution that looks more like a tech company than a bank. His message and methods are working, as digital disruption shreds costs and creates new revenue streams. Has DBS created the template for how successful banks will need to look in the future?
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DBS named world’s best bank in Euromoney Awards for Excellence 2019; JPMorgan is the world’s best investment bank; Erste’s Treichl recognized as banker of the year.
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
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In a supposedly slow-moving industry, the amount of change in global wealth management over five decades has been remarkable.
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For many private banks that set up in Asia in the last decade, the cost of doing business kept them locked out of the vast expansion of wealth in the region; those that didn’t leave are settling into a more mature industry, but they are a long way from being able to relax.
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Tan Su Shan has led DBS’s efforts to become the leading home-grown bank for wealth management in Asia, during a decade in which the number of billionaires in the region has soared.
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Profits are up, but the markets hits it – for good and bad – for being the bank/tech hybrid Gupta has modelled.
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UOB responds with announcement of Grab alliance.
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Alternatives to green bonds and loans needed to boost Asian green finance; engaging retail investors will be key.
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Asia offers a unique client set of young entrepreneurs; it also offers the challenge of new generations inheriting wealth with different expectations from their predecessors. That is a great opportunity, but it requires private banks to be nimble, thoughtful and technologically adept.
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There are only two truly global, fully fledged cash management banks today, but the digital arms race in transaction services gives far more banks the opportunity to be world class.
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DBS marked its 50th anniversary by commissioning a musical based on its web series 'Sparks'.
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Neal Cross brought a range of unusual experiences to his job as chief innovation officer at DBS, one of the world’s most impressive banks for digital ideas. His desire to disrupt and transform doesn’t stop at the bank – it extends to Sumatran orangutans.
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HSBC maintains its dominance of the cash management industry.
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It is a big ask to win any Euromoney award for three years consecutively, but DBS’s leadership in the digital realm is unarguable.
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After two years, OCBC loses its crown to local peer DBS this year as Euromoney’s best bank for small and medium-sized enterprises. The two Singapore houses remain almost unique in building a meaningful SME business that operates across borders.
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DBS, under CEO Piyush Gupta, is not the biggest name in transaction services in Asia, but it is the one that impresses most in its trajectory.
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The firm is leveraging the efficiency and craft it has built in digital to take it into the markets that surround its home base.
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Bank of America and Citi win top prizes; Credit Suisse’s Tidjane Thiam is named Banker of the Year; Asian banks make their mark in global awards.
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DBS is an institution in which every part of the business – from cash management to private banking, from SMEs to retail – is being enriched by a challenging process of wilful digital disruption.
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DBS is all about digitization bringing costs down, but Thursday’s numbers show a reversal. It’s caused by the acquisition of ANZ’s wealth business in Asia.
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The results of the Euromoney Trade Finance Survey 2018 show the emergence of two very different trends: the sustained presence of the global trade finance bank, and the rising influence of regional institutions.
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HSBC rises to the top of trade finance.
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No other bank explains its tech performance better than DBS
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As we drift towards the end of the year, conferences seem to be full of panels on asset allocation for the 12 months ahead: sometimes a bold investor will go so far as to say what they invest in themselves; sometimes that’s a surprise.
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Analysts are glowing in their praise of Piyush Gupta’s digital strategy – how has he done it?
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September brought Formula One to Singapore once again, and with it the usual draconian restrictions on advertising by anyone who is not firmly contracted to F1.
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Asia’s disparate markets and economies have found common ground in the widespread adoption of digital technology. Starting with consumer clients, expectations are rising up the banking chain and banks need to keep pace.
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The firm has invested heavily in its GTS offering in recent years – this year’s rankings see it rise on a tide of high customer satisfaction with its suite of new products.
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As the complexities of charging for fixed income research become more apparent, many asset managers are deciding to pay for it and equity research themselves, but with just four months to go, they are no closer to knowing how much this will cost.
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HSBC holds top place in both the global financial institutions and non-financial institutions results; global banks dominate but regional banks continue rise.
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Front End went to our local DBS bank branch in Singapore to find it had been closed – sorry, not closed: merged.
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It is genuinely impossible to have a conversation with anyone at DBS without it turning swiftly to digital initiatives. Whether it is a transaction services or an SME banker across the table, capital markets or even CSR, and most certainly if it is CEO Piyush Gupta, it is clear that the digital agenda pervades everything DBS does, which makes it a worthy winner of this year’s best digital bank. DBS is not alone in this, but it is the one bank that convinces you that its use of technology is not just about marketing and simplification, but is translating into profits and new business.
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Euromoney predicted last month that ANZ would sell its retail and wealth management businesses to a Singaporean bank; it turns out it was already in the works. Both DBS and ANZ gain from a practical deal, though it won’t be quite as simple as it looks
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Results index Global All transactions 2016 2015 Bank Score 1 2 HSBC 6548 2 3 Citi 3830 3 1 Deutsche Bank 3116 4 13 Bank of New York Mellon 1728 5 14 Sumitomo Mitsui Banking Corporation 1536 6 8 JPMorgan 1534 7 5 Commerzbank 1359 8 4 Bank of America Merrill Lynch 1339 9 6 Standard Chartered 1305 10 7 Barclays 1303 11 9 Bank of Tokyo-Mitsubishi UFJ 1209 12 32 Industrial & Commercial Bank of China 1057 13 45 DBS Bank 1045 14 12 Wells Fargo 823 15 11 Bank of China 817 16 19 Societe Generale 721 17 18 Mizuho Bank 692 18 16 UniCredit 607 19 21 ADCB 605 20 15 RBS 535 21 10 BNP Paribas Fortis 504 22 Cathay United Bank 501 23 22 Yapi Kredi 355 24 UOB 352 25 ANZ Banking Group 340 26 23 ING Group 265 27 35= Agricultural Bank of China 251 28 29 Akbank 250 29 17 RZB 223 30 137= Bank Mandiri 218 31 42 Arab Bank 194 32 39 Bank of Communications 193 33 28 UBS 189 34 ATF Bank 188 35 208= Bank Central Asia 182 36 BNI 46 162 37 CIMB 156 38 38 Danske Bank 152 39 65= Banco BPI 144 40 208= Bangkok Bank 132 41 Siam Commercial Bank 126 42 40 Credit Agricole 122 43 34 BBVA 118 44 Hang Seng 116 45 41 Lloyds 114 46= 27 Garanti Bank 110 46= 74= Bancolombia 110 48 Bank Danamon 107 49 NAB 106 50 Bank of Nanjing 103
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While HSBC scores a notable double in Euromoney’s annual global rankings, the record response rate of almost 35,000 validated votes generated a host of changes at the upper end of our cash management survey. Regional banks move to the fore and some previous global leaders have dropped back.
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Almost 35,000 companies and financial institutions vote, a record response rate; HSBC wins globally for both client sectors; and there are big changes at the upper end of cash management survey, with regional banks to the fore and some once global leaders dropping back.
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Who comes out best and worst from the DoJ report into 1MDB?
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Asian banks are increasingly proving themselves to be much more than just volume-hungry lenders.
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Results index It is time to acknowledge a home-grown banking champion that, while still lacking the pan-Asian scope of some international rivals, has demonstrated consistent excellence and a commitment to innovation. At a time when many western banks are in retreat from Asia, it is right to applaud one that is increasing market penetration almost everywhere it attempts to do business.
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These are miserable times in Australian banking, which is suffering issues ranging from banking culture to credit quality as the commodity cycle ends. Commonwealth Bank has reputational issues around its CommInsure unit, while both ANZ and Westpac are under investigation for rate manipulation.
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Results index Piyush Gupta, the CEO of DBS, is a great believer in the threat to banking from platforms like Ant Financial, and in the opportunity available for those who get ahead of the game. Gupta has invested S$4.6 billion in digital strategies in the last five years. He has also insisted that everyone in his team buy in to the vision, arguing that it is much easier to effect change if 22,000 staff believe in it than to try to drive it from the top down.
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Euromoney names BNP Paribas as the world’s best bank and HSBC the world’s best investment bank for 2016; BBVA’s Francisco González is banker of the year and completes a great night for Europe.
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This year marks the 25th anniversary of the Euromoney Awards for Excellence. They were the first of their kind in the global financial publishing industry. The nature of the global banking industry is constantly changing, and this year we made fundamental changes to the categories to reflect this.
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Putting digital priorities at the heart of what a traditional bank does is easier said than done. At Singapore’s DBS, actions are speaking louder than the words of its rivals
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Singapore’s ever-changing waterfront was revamped afresh in June with the arrival of a five-storey-high inflatable slide across the road from the Marina Bay Financial Centre.
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DBS’s launch of a new digital bank in India provides a test case for a branchless model of banking in Asia that will influence a dozen other markets in the years ahead.
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Extended results can be viewed here.
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Many banks now say cash management is the heart of their business, not just for the returns it can generate in its own right but also for the opportunity to pump other products and services through their networks. Euromoney’s survey reveals banks still have a lot of work to do to turn aspiration into reality
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Rather than relying exclusively on in-house platforms, or buying in third-party resources, banks are benefiting from nurturing the next generation of talent to experiment with emerging fintech solutions. Citi, Commerzbank and DBS reveal their incubator strategies.
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Piyush Gupta, the CEO of Singapore’s DBS, has grabbed a once in a lifetime opportunity to build the bank’s Asian corporate and investment banking franchise. Gupta has a world view and doesn’t shy away from airing his thoughts on top bankers, China’s $1 trillion NPL headache, the death of cross-border bank M&A and what global banks are getting wrong in Asia
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The much-vaunted acquisition by Singapore’s DBS of the Asia private banking arm of Société Générale has come to fruition with a $220 million deal – and received a mixed reception.
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Singapore’s status as a regional hub and burgeoning centre for private banking attracts many global banks, but local bank DBS maintains its pre-eminence.
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London-based CTA Sequent Capital has launched its diversified managed futures program on Deutsche Bank's dbSelect platform, according to EuroHedge.
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Singapore bank’s $4.9 billion takeover in Indonesia adds spice to the battle to become Southeast Asia’s leading banking group
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Like its home country, DBS wants to be an international hub for financial trading across Asia.
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The DBS chief executive is developing a more focused take on his bank’s traditional pan-Asian aspirations. Singapore, India and Greater China are the key growth points, concentrating on commercial banking (especially for SMEs) and wealth management. Chris Wright reports.
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There is a rumour that Temasek would like to combine Standard Chartered with DBS in order to create a true, global, Singapore-headquartered powerhouse. It’s a great theory. But does it stand up?
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Jackson Tai brought a determined pan-Asian strategy to Singapore’s DBS Bank. With Tai on the point of retiring as CEO, Chris Wright looks at the successes and failures of his approach.