DBS Bank headquarters in Marina Bay, Singapore
|Formerly||The Development Bank of Singapore Limited (–)|
|Predecessor||Financing division of the Economic Development Board|
|Founded||16July ; 53 years ago()|
|Headquarters||12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore |
|Services||Retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, credit cards, finance and insurance|
|Revenue||US$ billion ()|
- SGDbillion ()
- SGDbillion ()
|US$ billion ()|
|Total assets||rabobank secure login width="11" height="11">US$ billion ()|
Number of employees
| 24, () |
|Subsidiaries||POSB Bank, PT Bank DBS Indonesia (Bank DBS Indonesia), DBS Bank (Hong Kong) Limited, DBS Vickers Securities Holdings Pte. Ltd, NETS, DBS Bank (Taiwan) Ltd., DBS Bank (China) Limited, DBS Asia Hub 2 Private Limited, DBS Bank Ltd., London Branch, Primefield Company Pte Ltd., DBS Bank Ltd., Australia Branch, DBS Bank Ltd. Labuan Branch, Laxmi Vilas Bank (India), PT DBS Securities Indonesia, Kenson Asia Ltd., Vickers Ballas Asset Management Pte Ltd., Salte Pte Ltd., DBS Vickers Securities (Hong Kong) Limited, DBS Insurance Agency (Taiwan) Limited, Vickers Ballas Investment Management Ltd., DBS Bank Ltd., Research Division, DBS Vickers Securities (Malaysia) Pte Ltd.DBS Bank Subsidiaries, retrieved 13 August |
DBS Bank Ltd (DBS) is a Singaporeanmultinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was adopted on 21 July to reflect its changing role as a global bank.
The bank was set up by the Government of Singapore on 16 July to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering more than can be found island-wide. DBS Bank is the largest bank in Southeast Asia by assets and among the larger banks in Asia, with total assets of S$ billion as at 31 December It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore, Hong Kong and Taiwan. DBS Bank's largest, and controlling, shareholder is Temasek Holdings, Singapore's second-largest sovereign wealth fund (after GIC). As of 31 MarchTemasek owns 29% of DBS shares.
The bank's strong capital position, as well as "AA" and "Aa1" credit ratings by Standard & Poor's and Moody's that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for six consecutive years, from to  The Bank was also awarded the Best Digital Bank in the World in the year by Euromoney. In JulyDBS became the first bank ever to concurrently hold three of the most prestigious global best bank honours (Euromoney, Global Finance, The Banker). In addition, DBS Bank is listed on the Dow Jones Sustainability Asia Pacific Index since 2 Octobermaking it the first bank in Southeast Asia to do so. DBS was one of the first companies in Singapore to be recognised for gender equality efforts along with City Developments Limited in the first Bloomberg Gender-Equality Index (GEI) rabobank secure login in 
With operations in 17 markets, the bank has a regional network spanning more than branches and over 1, ATMs across 50 cities.
Established on 16 July by the Government of Singapore to take over the industrial financing activities from the Economic Development Board, the bank's main purpose was to provide loans and financial aid to the manufacturing and processing industries and to help establish and upgrade existing industries in Singapore. Inthe Singapore government invited a United Nations (UN) industrial survey mission to assess the economic situation in Singapore and to come up with an industrialization programme for the city. The proposal included setting up a development bank, together with an economic body to attract foreign investments and provide financing and managing the industrial estates. The bank was incorporated in July and began operations in September of the same year.
Acquisition of POSB Bank
Main article: POSB Bank
Formerly known as Post Office Savings Bank, it was established on 1 January in the General Post Office Building, in Raffles Place by the British Colonial Government in Singapore.
ByPOSB had one million depositors, while deposits crossed the S$1billion mark. The bank was then renamed POSBank inbefore being acquired by DBS Bank on 16 November for S$billion (first announced on 24 July ), giving it a dominant market share with over four million customers. POSB Bank still operates one of the highest numbers of bank branches in Singapore, especially in the suburban neighborhoods, and operates the highest number of ATM outlets throughout Singapore. The integration of both banks allowed customers of either bank to share the facilities; DBS Bank depositors may use the Cash Deposit Machine installed islandwide in POSBank branches, likewise for POSB Bank depositors.
The ten largest shareholders as of 9 February  are:
|Name of Shareholders ||No. of Shareholdings ||%* |
|1. ||Citibank Rabobank secure login Singapore Pte Ltd ||, || |
|2. ||Maju Holdings Pte Ltd ||, || |
|3. ||DBS Nominees Pte Ltd ||, || |
|4. ||Temasek Holdings (Private) Ltd ||, || |
|5. ||DBSN Services Pte Ltd ||, || |
|6. ||HSBC (Singapore) Nominees Pte Ltd ||, || |
|7. ||Raffles Nominees (Pte) Ltd ||83, || |
|8. ||BPSS Nominees Singapore (Pte) Ltd ||22, || |
|9. ||Lee Foundation ||11, || |
| ||United Overseas Bank Nominees Pte Ltd ||11, || |
* Percentage is calculated based on the total number of issued ordinary shares, excluding treasury shares
Temasek Holdings (Pte) Ltd, a company wholly owned by the Rabobank secure login of Finance, is deemed to be interested in all the ordinary shares held by Maju. In addition, Temasek is deemed to be interested in 4, ordinary shares in which its other subsidiaries and associated companies have or are deemed to have an interest pursuant to Section 4 of the Securities and Futures Act, Chapter
DBS Bank has branches and offices in Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, the Philippines, Taiwan, Thailand, the United Arab Emirates, the United Kingdom, the United States and Vietnam.
Strategically located in the key trade and financial hubs of mainland China, DBS has a network of full service branches in Beijing, Guangzhou, Shanghai, Shenzhen, Suzhou, Tianjin, Dongguan, Nanning and Hangzhou; and representative offices in Fuzhou which provide a comprehensive range of commercial and corporate banking services. In DecemberDBS Bank received approval from the China Banking Regulatory Commission (CBRC) to prepare for local incorporation in Mainland China. DBS is the only Rabobank secure login bank among nine foreign banks to receive this approval. Init also became the first Singapore bank to issue UnionPay debit cards in mainland China.
Main article: DBS Bank (Hong Kong)
DBS started its operations in Great Hong Kong in by acquiring Kwong On Bank from Leung's family & Japanese-based Fuji Bank, and renamed it as DBS Kwong On Bank Limited. It acquired Dao Heng Bank (and its subsidiary Overseas Trust Bank) in The three banks were later merged under the trading name of DBS Bank (Hong Kong) Limited.
Headquartered in the commercial capital of Mumbai, DBS operates via a network of 33 bank branches across 22 cities in India such as Bangalore, Chennai, Cuddalore, Hyderabad, Kolhapur, Kolkata, Coimbatore, Moradabad, Indore, Mumbai (Andheri, Nariman Point), Rabobank secure login, New Delhi, Noida, Gurugram, Pune, Salem, Surat and Vadodara. DBS India had a % stake in DBS Cholamandalam Finance, a non-bank financial institution, in Aprilit transferred its shares to the parent company Tube Investments of India Limited, thus terminating its shared holder agreement in Cholamandalam DBS. On 17 NovemberReserve Bank of India instructed Lakshmi Vilas Bank (LVB) to be merged with DBS India after LVB having placed under moratorium for 30 days.
DBS has a 99%-owned subsidiary, PT Bank DBS Indonesia, with 39 branches and sub-branches in 11 cities.
On 2 AprilDBS announced that it was planning to buy over a majority stake in Bank Danamon from Temasek Holdings. Initial reactions to the proposed purchase in Indonesia were cautious with most commentators saying that the deal was expected to be approved but that government regulators would doubtless wish to look at some of the details, including reciprocity from Singapore policy makers, quite closely before making a final decision.
On 31 JulyDBS announced that it had allowed the Bank Danamon bid to lapse, but that they rabobank secure login committed to Indonesia and will continue to invest and grow franchise.
DBS first established a presence in Taiwan in In MayDBS integrated Taiwan's Bowa Bank into its operations after acquiring the "good bank assets" in February. There are 40 distribution outlets across the country, half of which are based in Taipei.
The Islamic Bank of Asia
Main article: The Islamic Bank of Asia
DBS Bank launched The Islamic Bank of Asia (IB Asia) on 7 Mayafter receiving official approval from the Monetary Authority of Singapore for a full bank licence. IB Asia's founding shareholders include majority stakeholder DBS and 34 Middle Eastern investors from prominent families and industrial groups from Gulf Cooperation Council (GCC) countries.
On 14 SeptemberDBS Bank announced that it will progressively cease IB Asia as it was not able to achieve economies of suntrust account number on check when operated as a single entity. The process was estimated to take rabobank secure login 2 to 3 years, with DBS Bank developing their Islamic compliant banking products instead.
DBS iB Secure Device and Internet banking
DBS iB Secure Device showing code number
Starting in latethe bank began releasing to its Internet banking customers a Dual Factor Authentication device to assist in thwarting phishing attacks. The DBS iB Secure Device is a hardware device with a key fob form factor that generates a password that is linked to the log-on name. The password changes every sixty seconds and once used is no longer valid. The institution Code for DBS is
InDBS introduced a New Generation IB Secure Device as part of the financial industry-wide initiative for an even safer online banking experience. The device has stronger authentication capabilities and provides users with an extra layer of security against potential fraudulent activities and threats.
DBS has a total of million Internet banking users in Singapore as of 
On 15 AprilDBS Bank launched mobile banking service, mBanking, to both DBS and POSB customers. It allows customers to view their banking and credit card accounts, transfer funds and pay bills via their mobile phones. Customers will need to download an application from the google play store or iTunes app store by searching DBS mBanking or POSB mBanking to use the service.
mBanking was already soft-launched on both DBS and POSB websites on 10 April with more than 2, downloads.
Customers using mBanking will be protected by DBS Bank's 'money-safe' guarantee. The bank promised reimbursements if there are any unauthorised transactions.
As ofthere weremBanking users in Singapore.
- Best SME Banking Brand in Taiwan awarded by GLOBAL BRANDS MAGAZINE
- Best Customer Service Brand in Taiwan awarded by GLOBAL Rabobank secure login MAGAZINE
- World's Best Bank, by Global Finance (New York).
- Global Bank of the Year, by The Banker (Financial Times group).
- ^"DBS Annual Report "(PDF).
- ^"The World's Biggest Public Companies". Forbes.
- ^"DBS Annual Report "(PDF).
- ^"The Development Bank Of Singapore Ltd is Now DBS Bank Ltd". DBS Bank. 21 July Archived from the original on 14 July Retrieved 3 October
- ^"Temasek > Our Portfolio > Financial Services". Temasek. Temasek. Retrieved 22 March
- ^" Annual Report"(PDF).
- ^ ab"DBS is safest bank in Asia for sixth consecutive year".
- ^"World's best digital bank DBS @Euromoney". rabobank secure login. Retrieved 24 April
- ^"DBS named World's Best Bank by Euromoney, a first for an Asian bank". The Straits Times. 12 July
- ^"DBS – First bank in Southeast Asia included in Dow Jones North mankato clinic Index (Asia Pacific)". DBS. 2 October Retrieved 24 September
- ^"DBS, CDL among firms recognised for gender-equality efforts on Bloomberg index". CNA. 23 January Retrieved 6 June
- ^ abDevelopment Bank of Singapore Ltd. (). First annual report (p. 4). Singapore: Development Bank of Singapore Ltd.
- ^United Nations. (). A proposed industrialization programme for the State of Singapore (pp. 1–3, –). Singapore: U.N. Commissioner for Technical Assistance, Dept. of Economic and Social Affairs. Call no.: RCLOS UNI.
- ^"Establishment of The Post Office Saving Bank". National Library Board. Retrieved 13 September
- ^"Ministry of Finance Press Statement: Privatisation of POSBank". NAS. 24 July Retrieved 3 October
- ^"The Development Bank of Singapore Ltd to acquire the business undertaking of the Post Office Savings Bank of Singapore strengthening its position as the largest Southeast Asian bank with total assets of approximately $93 billion". DBS Bank. 24 July Archived from the original on 19 October Retrieved 29 September
- ^"DBS Bank completes POSBank and credit POSB acquisition". DBS Bank. 16 November Archived from the original on 18 October Retrieved 29 September
- ^"DBS Bank Singapore» mynewextsetup.us". mynewextsetup.us. 3 November Retrieved 17 April
- ^"DBS Annual Report "(PDF).
- ^"DBS Bank Branches and ATMs Corporate/Investment Banking
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