If you’re looking for a reliable banking partner in Singapore, you might want to consider the Development Bank of Singapore (DBS). As the largest bank in Singapore and Southeast Asia, DBS offers a wide range of banking services to individuals, businesses, and corporations across the region. With over 280 branches in Asia, DBS has been recognised as the “World’s Best Bank” by leading financial publications such as Euromoney and The Banker.
DBS has a rich history and evolution that dates back to 1968, when it was established as the Development Bank of Singapore to support the country’s industrialisation efforts. Over the years, the bank has expanded its services and global presence through strategic acquisitions and partnerships. Today, DBS is a leading financial services group in Asia, with a strong focus on innovation, sustainability, and social responsibility.
Whether you’re looking for personal banking services, corporate finance solutions, or investment opportunities, DBS has something to offer. The bank is committed to providing its customers with the best possible experience through digital transformation, customer-centricity, and community engagement. Read on to learn more about DBS and how it can help you achieve your financial goals.
Key Takeaways
- DBS is the largest bank in Singapore and Southeast Asia, offering a wide range of banking services to individuals, businesses, and corporations across the region.
- DBS has a rich history and evolution that dates back to 1968, and has expanded its services and global presence through strategic acquisitions and partnerships.
- DBS is committed to innovation, sustainability, and social responsibility, and provides its customers with the best possible experience through digital transformation, customer-centricity, and community engagement.
History and Evolution
If you’re interested in learning about the history and evolution of the Development Bank of Singapore (DBS), you’ve come to the right place. In this section, we’ll take a look at the foundation and growth of the bank, as well as some of the milestones and achievements that have helped shape it into the institution it is today.
Foundation and Growth
The Development Bank of Singapore was founded in 1968 by the government of Singapore with the help of Dutch economist Albert Winsemius, who was a key advisor to then-Finance Minister Goh Keng Swee. The bank was established with the aim of providing financing for the country’s industrialization efforts and supporting the growth of small and medium-sized enterprises.
Over the years, DBS has grown to become one of the largest banks in Southeast Asia, with a presence in 18 markets around the world. In 1998, it merged with the Post Office Savings Bank (POSB) to become POSB Bank, which was later renamed DBS Bank.
Milestones and Achievements
DBS has achieved many milestones and accomplishments over the years. In 1984, it became the first bank in Southeast Asia to establish an Islamic banking unit, the Islamic Bank of Asia. In 1999, it became the first Singapore bank to be awarded a banking license in China, and in 2008, it was the first Singapore bank to be awarded a full banking license in India.
In recent years, DBS has been recognized for its commitment to sustainability and innovation. In 2018, it was named the World’s Best Digital Bank by Euromoney, and in 2019, it became the first bank in Southeast Asia to join the United Nations Environment Programme Finance Initiative’s Collective Commitment to Climate Action.
Overall, DBS has come a long way since its founding in 1968. With a strong focus on innovation, sustainability, and customer service, it is well-positioned to continue to be a leading bank in the region for many years to come.
Banking Services
If you’re looking for a bank that offers a range of services, DBS Bank is a great choice. With its extensive network of branches and ATMs, you can easily access your funds and manage your finances. DBS Bank offers a variety of banking services, including retail banking, corporate banking, and wealth management.
Retail Banking
DBS Bank’s retail banking services cater to the needs of individual customers. With a focus on consumer banking, DBS Bank offers a range of products and services, including savings accounts, credit cards, loans, and insurance. You can easily manage your account and access your funds through DBS Bank’s online and mobile banking services.
Corporate Banking
DBS Bank’s corporate banking services cater to the needs of businesses of all sizes. From small businesses to large corporations, DBS Bank offers a range of products and services, including loans, trade finance, cash management, and treasury and markets. DBS Bank’s corporate banking services are designed to help businesses grow and succeed.
Wealth Management
DBS Bank’s wealth management services cater to the needs of high net worth individuals. With a focus on wealth management, DBS Bank offers a range of products and services, including investment management, securities brokerage, and estate planning. DBS Bank’s wealth management services are designed to help you manage and grow your wealth.
In conclusion, DBS Bank offers a range of banking services to meet the needs of its customers. Whether you’re an individual customer, a business owner, or a high net worth individual, DBS Bank has the products and services you need to manage your finances and achieve your financial goals.
Global Presence
DBS Bank has been passionately serving its customers in Asia for over 40 years. Today, it is the largest bank in Singapore and Southeast Asia with over 280 branches in Asia. DBS Bank has expanded its presence beyond Singapore and Southeast Asia to become a leading bank in the region.
Southeast Asia Expansion
DBS Bank has a strong presence in Southeast Asia with branches in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. It is also present in Taiwan and Hong Kong. DBS Bank has been recognised as the “World’s Best Bank” by Global Finance for four consecutive years from 2018 to 2021. In addition, it has been named “Asia’s Safest Bank” by Global Finance for 12 consecutive years from 2009 to 2020.
DBS Bank has been investing heavily in technology to enhance its customer experience and improve its operational efficiency. It has launched several digital initiatives such as DBS PayLah!, DBS iWealth, and DBS NAV Planner. These initiatives have helped DBS Bank to attract and retain customers in Southeast Asia.
DBS Beyond Asia
DBS Bank has also expanded its presence beyond Asia. It has a representative office in San Francisco, California, and has acquired banks in India and China. In India, DBS Bank acquired Lakshmi Vilas Bank in November 2020, which has helped it to expand its presence in the country. In China, DBS Bank acquired a stake in Shenzhen Rural Commercial Bank in 2021, which has helped it to expand its presence in the Greater Bay Area.
DBS Bank has also launched several initiatives to support the growth of small and medium-sized enterprises (SMEs) in Asia. It has launched DBS SME Connect, which is a digital platform that connects SMEs with potential investors and partners. DBS Bank has also launched DBS Foundation, which supports social enterprises in Asia.
In conclusion, DBS Bank has a strong presence in Asia and has been expanding its presence beyond the region. It has been investing heavily in technology to enhance its customer experience and improve its operational efficiency. DBS Bank has also launched several initiatives to support the growth of SMEs in Asia.
Innovation and Technology
Innovation and technology are at the forefront of DBS Bank’s strategy to drive digital transformation and provide cutting-edge fintech solutions to its customers. The bank has established itself as a leader in digital banking and has won several awards for its innovative approach to banking.
Digital Transformation
DBS Bank has embarked on a digital transformation journey, which has seen it invest heavily in technology to provide customers with a seamless and personalised banking experience. The bank has leveraged data analytics and artificial intelligence to gain insights into customer behaviour and preferences, allowing it to offer customised solutions to meet their needs.
The bank has also implemented a range of digital solutions, including mobile banking, online banking, and digital wallets, to make banking more convenient for customers. These solutions have seen the bank’s digital customer base grow significantly, and it now has over 7 million digital customers.
Fintech Partnerships
DBS Bank has formed strategic partnerships with fintech companies to provide innovative solutions to its customers. The bank has collaborated with several startups to develop new products and services, including a mobile-only bank in India and a digital payments platform in Indonesia.
The bank has also invested in fintech companies to gain access to cutting-edge technology and talent. For example, DBS Bank has invested in blockchain technology to improve its trade finance operations and has partnered with a fintech company to develop a digital marketplace for small and medium-sized enterprises.
Overall, DBS Bank’s focus on innovation and technology has positioned it as a leader in digital banking. Its commitment to change and the future of banking has seen it develop innovative solutions that have transformed the banking industry.
Sustainability and Social Responsibility
As a socially responsible bank, Bank of Singapore is committed to creating a better world for all. The bank recognises that sustainable outcomes and social impact are integral to their business operations and have made it a priority to integrate environmental, social and governance (ESG) analysis into their approach and evaluation of investment opportunities.
Environmental Initiatives
Bank of Singapore is committed to protecting the environment and mitigating climate change. The bank has set a target to achieve net-zero greenhouse gas emissions by 2050 and has taken several initiatives to achieve this goal. These initiatives include reducing paper usage, implementing energy-efficient practices, and investing in renewable energy.
Community Engagement
Bank of Singapore is dedicated to empowering communities and promoting gender equality. The bank has established partnerships with various organisations to support community development and gender equality initiatives. These partnerships include supporting microfinance initiatives, providing financial literacy training, and promoting women’s entrepreneurship.
In conclusion, Bank of Singapore is committed to creating a better world through sustainable outcomes and social impact. The bank’s environmental initiatives and community engagement efforts demonstrate their dedication to making a positive difference in the world.
Awards and Recognition
As one of the largest and most respected banks in Singapore, Development Bank of Singapore (DBS) has received numerous awards and recognition from industry experts and publications. These accolades are a testament to the bank’s commitment to excellence and innovation in the financial services industry.
In 2020, DBS was named the “World’s Best Bank” by Global Finance magazine. This prestigious award recognises the bank’s outstanding performance and leadership in the industry. DBS was also named “Best Bank in the World” by Euromoney magazine in the same year. This recognition highlights the bank’s commitment to delivering exceptional customer service and driving innovation in the industry.
DBS has also been recognised for its sustainability efforts. The bank was named “Asia’s Best Bank for Sustainable Finance” by Euromoney in 2020. This award recognises the bank’s commitment to sustainability and its efforts to drive positive change in the communities it serves.
In addition to these global awards, DBS has also received numerous local awards and recognition. The bank was named “Singapore’s Best Bank” by Global Finance magazine in 2020, highlighting its leadership in the local market.
Overall, DBS’s commitment to excellence and innovation has earned it numerous awards and recognition from industry experts and publications. Whether it is being named the “World’s Best Bank” or “Asia’s Best Bank for Sustainable Finance,” DBS is excited to continue driving positive change in the financial services industry and delivering exceptional customer service to its clients.
Economic Impact
The Development Bank of Singapore (DBS) plays a crucial role in supporting economic growth in Singapore. As one of the leading banks in the country, DBS provides financing for development projects that drive economic development and create jobs.
Supporting Economic Growth
DBS has been instrumental in financing industrial development projects in Singapore. The bank has provided loans to companies to help them expand their operations and build new facilities in industrial estates. This has helped to create new jobs and boost economic growth in the country.
DBS also provides financial services to businesses of all sizes, from small startups to large corporations. The bank’s financial services help businesses to manage their cash flow, invest in new projects, and expand their operations. This support has been vital in helping businesses to grow and contribute to the overall economic development of Singapore.
Financing Development Projects
DBS has played a significant role in financing development projects that have helped to transform Singapore into a modern, thriving economy. The bank has provided financing for infrastructure projects, such as the construction of airports, highways, and other transportation systems. This has helped to improve connectivity and make Singapore a more attractive place to do business.
DBS has also provided financing for social development projects, such as the construction of schools, hospitals, and other public facilities. This has helped to improve the quality of life for Singaporeans and create a more equitable society.
In conclusion, the Development Bank of Singapore has had a significant impact on the economic development of Singapore. Through its support for industrial financing and development projects, DBS has helped to create jobs, boost economic growth, and improve the quality of life for Singaporeans.
Customer Experience
DBS Bank is committed to providing an excellent customer experience. The bank has invested heavily in banking innovation to ensure that customers have access to the latest technology and services.
Banking Innovation
DBS Bank has been at the forefront of banking innovation, using design thinking to create customer-focused solutions. The bank’s approach is based on the 4Ds – Discover, Define, Develop and Deliver. This approach has helped the bank to create innovative solutions that meet the needs of its customers.
For example, DBS Bank has developed a mobile app that allows customers to apply for loans on the go. The app is easy to use and provides customers with a seamless experience. The bank has also introduced a chatbot that can answer customer queries and provide support 24/7. These innovations have helped to make banking more convenient and accessible for customers.
Service Excellence
DBS Bank is committed to providing excellent customer service. The bank has a dedicated team of customer service professionals who are trained to provide personalised service to customers. The bank also uses data analytics to understand customer needs and preferences, which helps to provide a more personalised service.
For example, DBS Bank has a dedicated team that provides startup capital to entrepreneurs. The team works closely with startups to provide them with the support they need to succeed. The bank also offers a range of loan products to help businesses grow and expand.
In conclusion, DBS Bank is committed to providing an excellent customer experience. The bank’s focus on banking innovation and service excellence has helped it to become a leader in the banking industry. Whether you are applying for a loan or seeking startup capital, DBS Bank is the right choice for you.
DBS in the Community
As a socially responsible bank, DBS is committed to making a positive impact in the communities it serves. The bank has launched several initiatives to support education, promote sustainability, and improve the lives of the underprivileged.
Educational Programs
DBS believes that education is key to breaking the cycle of poverty and creating a brighter future. The bank has partnered with several educational institutions and organisations to provide scholarships, mentorship programmes, and skills training to students from low-income families.
One such initiative is the DBS Foundation, which supports social enterprises that use innovative solutions to address social issues. The foundation has launched a series of programmes to help social enterprises scale up and achieve greater impact. For example, the DBS Foundation Social Impact Prize provides funding and mentorship to social enterprises that are making a positive impact in their communities.
Local Partnerships
DBS has also formed partnerships with local organisations and grassroots communities to support their initiatives. The bank works closely with these groups to identify the needs of the community and provide targeted support.
For example, DBS has partnered with the Singapore Red Cross to provide emergency relief to communities affected by natural disasters. The bank has also collaborated with the National Volunteer and Philanthropy Centre to promote volunteerism and encourage employees to give back to the community.
In addition, DBS has launched several sustainability initiatives to promote environmental awareness and reduce its carbon footprint. The bank has set a target to achieve net-zero carbon emissions by 2050 and has pledged to increase its sustainable finance portfolio to SGD 50 billion by 2024.
Overall, DBS is excited to continue its efforts to make a positive impact in the communities it serves. Whether through educational programmes, local partnerships, or sustainability initiatives, the bank remains committed to creating a more inclusive and sustainable future for all.
Contact Information
If you need to get in touch with Development Bank of Singapore (DBS) for any reason, you’ll be pleased to know that there are several ways to do so. DBS prides itself on its customer service, so you can be sure that your query will be dealt with promptly and professionally.
Customer Service
If you have a query about your DBS account or any of the bank’s products or services, the customer service team is available to help. You can reach them by phone, email, or through the bank’s self-serve portal. Accessing the portal is easy and can save you time from calling the customer service hotline or emailing them.
Contact Details
If you need to contact DBS for any reason, you can use the following contact details:
- Phone: +65 6333 0033
- Email: [email protected]
- Address: Development Bank of Singapore, 12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982
Branches
DBS has over 150 branches throughout Singapore, so there’s sure to be one near you. You can use the branch locator on the bank’s website to find your nearest branch and view its opening hours.
Social Media
If you prefer to get in touch with DBS through social media, you can do so through the bank’s official Facebook, Twitter, and Instagram accounts. These channels are monitored by the bank’s customer service team, so you can expect a prompt response to your query.
Overall, DBS makes it easy to get in touch with the bank through a variety of channels, so you can be sure that your query will be dealt with quickly and efficiently.
Brand Identity
DBS Bank is a well-known brand in Singapore and across Asia. The bank has a strong brand identity that has been built over the years. In this section, we will discuss the key elements of DBS Bank’s brand identity.
Logo and Branding
The DBS Bank logo has undergone several changes since the bank was established in 1968. The current logo features a red circle with the letters “DBS” in white. The logo is simple, yet elegant, and reflects the bank’s commitment to modernity and innovation.
The bank’s branding is also consistent with its logo. The bank’s website, marketing materials, and advertisements all feature the same colour scheme and design elements. This consistency helps to reinforce the bank’s brand identity and makes it easily recognisable to customers.
Public Relations
DBS Bank has a strong public relations team that works hard to maintain the bank’s positive image. The bank is involved in many charitable initiatives and has received numerous awards for its corporate social responsibility efforts. For example, in conjunction with SG50, the bank announced the establishment of a SGD 50 million Foundation to give back to the community, be more inclusive and to help nurture and develop social entrepreneurship in Singapore and across Asia in February 2022.
The bank has also been recognised for its efforts to promote sustainability. In 2021, DBS Bank was named the world’s best bank for sustainable finance by Euromoney. The bank’s commitment to sustainability is reflected in its business practices and its branding, which emphasises the importance of environmental responsibility.
Overall, DBS Bank’s brand identity is strong and consistent. The bank’s logo and branding are simple yet elegant, and its public relations efforts have helped to reinforce its positive image.
International Finance
As an international financial centre, DBS Bank plays a vital role in facilitating global markets and foreign investments. With its extensive network of branches across Singapore and beyond, the bank is well-positioned to provide a range of financial services to businesses and individuals alike.
Global Markets
DBS Bank has a strong presence in global markets, providing a range of services to help businesses and investors manage their finances. The bank’s expertise in areas such as foreign exchange, commodities, and derivatives means that it is well-equipped to help clients navigate the complexities of the global financial system.
One of the bank’s key strengths is its ability to provide customised solutions to meet the needs of individual clients. Whether you are a large multinational corporation or a small business looking to expand overseas, DBS Bank can provide the support and expertise you need to succeed in the global marketplace.
Foreign Investments
DBS Bank is also a leading provider of financial services to foreign investors looking to invest in Singapore. With its deep understanding of the local market and its extensive network of contacts, the bank is well-placed to help foreign investors navigate the complexities of doing business in Singapore.
Whether you are looking to invest in property, infrastructure, or other sectors of the economy, DBS Bank can provide the support and guidance you need to make informed decisions and achieve your investment goals.
Jurong
Jurong is a key area of focus for DBS Bank, with the bank playing a leading role in the development of the area’s business and financial infrastructure. With its extensive network of contacts in the local community, the bank is well-placed to help businesses and investors looking to establish a presence in Jurong.
Whether you are looking to set up a new business, invest in property, or explore other opportunities in the area, DBS Bank can provide the support and expertise you need to succeed.
Development Initiatives
Proposal for a New Bank
You may be interested to know that the Development Bank of Singapore (DBS) was established in 1968 by the Government of Singapore to take over the industrial financing activities from the Economic Development Board. DBS has since grown to become the largest bank in Singapore and Southeast Asia with over 280 branches in Asia [1].
In recent years, DBS has been committed to cultivating a diverse and inclusive workplace and focusing on partnerships that drive change and address critical challenges facing our communities [2]. As part of this commitment, DBS has launched several initiatives to support sustainable development.
Financing Responsibilities
DBS takes its financing responsibilities seriously, and has been recognised for its innovative digital banking services [1]. In addition, DBS has also been involved in several green financing initiatives, including the issuance of green bonds and loans for renewable energy projects [2].
DBS has also committed to financing responsible businesses that align with its sustainability goals. For example, DBS has a financing programme for SMEs that are focused on sustainability [1].
Overall, DBS is a bank that is committed to sustainable development and financing responsible businesses. Its initiatives in this area have been recognised both locally and internationally, and it continues to lead the way in digital banking services and green financing.
[2] Development Bank Of Singapore
Frequently Asked Questions
What does DBS stand for in banking terms?
DBS stands for Development Bank of Singapore. It is a multinational banking and financial services corporation that has its headquarters in Singapore.
Is POSB part of the DBS Group?
Yes, POSB is a part of the DBS Group. POSB is a consumer bank that was acquired by DBS in 1998. It is one of the largest banks in Singapore, with a network of over 50 branches and more than 1,000 ATMs.
Where can I find the central office of DBS?
The central office of DBS is located at Marina Bay Financial Centre Tower 3, 12 Marina Boulevard, Singapore 018982. It is a modern and state-of-the-art facility that houses the bank’s executive offices, as well as a range of other business units.
How can I access DBS Internet banking services?
To access DBS Internet banking services, you need to first register for an account on the DBS website. Once you have registered, you can log in to your account using your username and password. From there, you can access a range of online banking services, including account management, fund transfers, bill payments, and more.
Are there any DBS branches in India?
Yes, DBS has a presence in India, with branches located in Mumbai, New Delhi, Chennai, Kolkata, and Bangalore. The bank offers a range of banking and financial services to customers in India, including corporate banking, trade finance, cash management, and more.
What are the primary services offered by DBS Bank?
DBS Bank offers a wide range of banking and financial services to its customers. Some of the primary services offered by the bank include personal banking, wealth management, corporate banking, investment banking, and treasury and markets services. The bank is also known for its innovative digital banking solutions, including DBS PayLah! and DBS iWealth.
