DBS recognised as ‘World’s Best Bank’ by renowned financial publication

by • September 8, 2020 • FinTechComments (0)158

Global Finance magazine awards DBS ‘Best Bank in the World’ title for the second time in three years

DBS has been recognised as the World’s Best Bank for the third year in a row, underscoring the bank’s growing presence among banking leaders worldwide. DBS’ latest global best bank accolade comes from the New York-based financial publication Global Finance, which named DBS ‘Best Bank in the World’ for the second time in three years in its World’s Best Global Banks 2020 Awards.

This award underscores the bank’s leadership and standing in the global financial community in defining the future of banking, and its commitment to delivering a purpose beyond banking to create a more sustainable future.

DBS was also Global Finance’s pick for ‘Best Bank in the World’ in 2018, and was named ‘Global Bank of the Year’ by Financial Times publication The Banker in the same year.


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In 2019, DBS was named ‘World’s Best Bank’ by leading financial publication Euromoney. The 2020 Global Finance title makes it the third consecutive year that DBS has been honoured with a global Best Bank accolade.

Joseph D. Giarraputo, publisher and editorial director of Global Finance, said: “This year, a worldwide pandemic has upended commerce and made forecasting even more difficult, yet business must continue. DBS Bank is exemplary of a bank that was ready for the sharp rise in demand for digital banking services during the pandemic. Over the past decade, it invested heavily in all things digital and created a culture for banking that is inclusive and efficient. Those investments are paying off at a time of economic uncertainty. They have strengthened the bank’s resilience and helped it to serve its customers in their time of need.”

Piyush Gupta, DBS CEO, said: “We are honoured to be named Best Bank in the World for the third consecutive year. Without a doubt, Covid-19 is the crisis of our generation. In this extraordinarily difficult time, we recognise the integral role that banks play in supporting employees, customers and the wider community. We are humbled by the acknowledgement of our efforts on this front, particularly how our investments in digital, and our culture of inclusivity, have enabled us to serve customers in their time of need. This underlies our whole focus on being a purpose-driven bank doing real things for real people for real economies.”

In Hong Kong, DBS has consistently supported sustainable SME growth, as a leader in SME banking. In 2020, faced with the impact of the pandemic, we worked to urgently help alleviate the working capital pressure of businesses and their suppliers, with comprehensive relief measures, and contact-free digital solutions. In recognition of our dedicated efforts in supporting SMEs, DBS Hong Kong was recently named Best Bank for SMEs at the Asiamoney Banking Awards in 2020.

Bank DBS Indonesia extends list of accomplishments, wins prestigious national and international awards

Bank DBS Indonesia reported on 28 Aug that despite the Covid-19 pandemic, it is still able to maintain its existence as represented by a host of national and international awards the bank won in the second half of 2020. The achievements confirmed the recognition of Bank DBS Indonesia’s ability to adapt quickly to and seize opportunity in the midst of disruption. Under the tagline “Live more, Bank less”, Bank DBS Indonesia is committed to providing a complete, easy, practical and seamless banking experience to customers everywhere.

Paulus Sutisna, President Director of PT Bank DBS Indonesia, said, “We are honoured to receive these awards and to be recognised nationally and internationally. These achievements are only possible thanks to the contribution of our entire team in various aspects, from optimising the work culture to improving the quality of infrastructure in the face of the pandemic, turning challenges into opportunities that allow us to quickly adapt to the new normal.”

Being a bank driven by sustainable goals is the DNA of Bank DBS Indonesia, and the achievements are a real manifestation of the bank’s transformation to bring innovations to the market.

The awards received by the bank were the Indonesia Foreign Exchange Bank of the Year from Asian Banking and Finance and several awards from Warta Ekonomi, including the “HEALTHY” predicate in the BUKU 3 category with assets of IDR50 trillion-IDR100 trillion at Best Bank Award 2020; Popular Foundation for News Activity Strategy at Indonesia Public Relations Award (IPRA) 2020; and Best Leader for Business Sustainability Through Corporate Development Initiative for Stakeholders Engagement in the category of BUKU 3 International Banks at Indonesia Financial Top Leader Award 2020.

Indonesia International Foreign Exchange Bank of the Year from Asian Banking and Finance

Bank DBS Indonesia was named Indonesia International Foreign Exchange Bank of the Year at Wholesale Banking Awards 2020 held by Asia’s leading financial and banking magazine Asian Banking and Finance (ABF).

ABF Wholesale Banking Awards, which was in its ninth year, honoured banks for their ability to overcome challenges and for taking banking initiatives that can have tremendous impacts on the banking industry in terms of programmes, deals, services and wholesale banking or corporate banking products.

ABF Wholesale Banking Awards evaluates programmes based on three criteria, namely Uniqueness & Innovation, Effectiveness & Impact, and Flexibility in responding to changes. Through the Mayfair Project, Bank DBS Indonesia is deemed capable of providing a variety of banking products and services ranging from loan facilities to cash management and hedging products effectively. The banking services demonstrate Bank DBS Indonesia’s ability to provide one-stop integrated service solution (one stop banking service solution) for its corporate customers.

More than 100 banks with outstanding performance from 30 countries in Asia were named winners of the Wholesale, Retail and Corporate & Investment Banking Awards.

Recognition of institution, foundation and leader from Warta Ekonomi

Economic and business magazine and news portal Warta Ekonomi gave awards not only to Bank DBS Indonesia as a financial institution but also to DBS Foundation, which is part of DBS Bank, and Paulus Sutisna, the president of Bank DBS Indonesia. The awards were presented by Indonesia Public Relations Award (IPRA) 2020, Indonesia Financial Top Leader Award 2020 and Indonesia Best Bank Award 2020, which were held sequentially.

Bank DBS Indonesia received the “HEALTHY” predicate in the category of BUKU 3 Banks with Assets of IDR50 Trillion-IDR100 trillion at Indonesia Best Bank Awards 2020. The Warta Ekonomi research team gave special acknowledgement to Bank DBS Indonesia’s health based on an assessment using the Risk-Based Bank Rating (RBBR) approach based on five variables, namely Risk Profile, Good Corporate Governance, Earnings, Capital and Intermediation Performance, each with a weight of 25%, 20%, 30%, 15% and 10%, respectively.

In addition to Indonesia Best Bank Award 2020, DBS Foundation also received The Popular Foundation for News Activity Strategy award at Indonesia Public Relations Award (IPRA) 2020 for its commitment to building a more inclusive society and its focus on promoting social entreprise as well as continuously carrying out public relations role and function to create positive news and a good image.

Furthermore, the head of Bank DBS Indonesia, Paulus Sutisna, was recognised by Warta Ekonomi as the Best Leader For Business Sustainability Through Corporate Development Initiative for Stakeholders Engagement in the category of BUKU 3 International Banks at Indonesia Financial Top Leader Award 2020. The award further confirmed Bank DBS Indonesia’s efforts as a financial institution that is committed to carrying out sustainable and responsible business and banking practices, as demonstrated by Paul Sutisna’s leadership and role that has made it happen.

Winner at Awards for Excellence 2020 in Asia from Euromoney

Alongside Bank DBS Indonesia’s accomplishments, DBS Bank won several awards at Awards for Excellence 2020 held by Euromoney. DBS Bank was named Asia’s Best Bank 2020 at Awards for Excellence 2020 in Asia for the second consecutive year. At the same event, DBS Bank won the Excellence in Leadership in Asia award, was named Asia’s Best Bank for Transaction Services, as well as Asia’s Best Bank for Corporate Responsibility.

Established in 1992, the Awards for Excellence is the first award in the global banking industry. It gives more than 50 regional awards and awards for best banks in nearly 100 countries. This year’s Awards for Excellence attracted around 1,000 submissions of national and regional programs.

“We are proud to become part of DBS Bank that has once again been recognised as Asia’s Best Bank 2020. This achievement confirmed the recognition of DBS Bank’s digital transformation and strength to provide banking services that are accessible to everyone. This is DBS Bank’s commitment to realising its vision as the “Best Bank for a Better World” by presenting more than just banking services, doing real things for real people,” Paulus concluded.

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