Whats Does DBS Stand for?
The full form of DBS is the Development Bank of Singapore Limited. Based in Marina Bay, Singapore, DBS Bank Ltd is a multinational bank and is the single largest bank in all of Southeast Asia. The bank has a significantly strong capital position along with high credit ratings from S&P (Standard and Poor) and has the accolade of being the safest bank in Asia. Apart from its achievements and accolades in the banking and finance space, DBS bank has taken significant steps to ensure sustainability and gender equality. This has made DBS one of the first Southeast Asian banks to be recognized under the Dow Jones Sustainability Asia Pacific Index and among the first Singaporean companies to be recognized in the Bloomberg Gender-Equality Index.
DBS Quick Facts
Apart from learning the full form of DBS, here are some quick additional facts about the bank, at a glance.
- Full Form of DBS is Development Bank Of Singapore.
- It was established by the Government of Singapore to succeed the erstwhile Economic Development Board, in 1968.
- It acquired POSB Bank (Post Office Savings Bank, established by the Singaporean British Colonial Government in 1877) for $1.6 Billion in November 1998.
- DBS Bank Ltd. has over a hundred branches across the island of Singapore and employs over 24,000 people.
- Some of the services that DBS Bank Ltd is known for include retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, credit cards, and finance and insurance, among others.
- It is accredited with one of the highest ratings by different credit rating agencies all over the world.
- Moody’s AA1
- S&P AA-
- Fitch AA-
- Despite being based in Singapore, DBS has a global presence. Branches of the bank can be found in countries like China, Taiwan, Indonesia, India, and Hong Kong.
- DBS is the single largest bank in Southeast Asia in terms of Assets Managed. The Bank managed over US$ 333.48 Billion in assets as of 2016, and the number has only grown since.
- Was a pioneer in introducing mobile banking in Singapore. Both customers of DBS and POSB were able to utilise the banking applications in 2010, with over a million users by 2014.
We hope this information was useful to you. Like the full form of DBS, you can learn from others our articles. This would be extremely beneficial for a banking exam.
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