DBS Bank

Singapore banks top customer satisfaction in Asian transaction banking

SINGAPORE (June 25): The primary transaction banking customers of United Overseas Bank (UOB) are most satisfied with the bank’s liquidity management solutions in Asia, according to East and Partners’ latest research.

On a satisfaction scale of 1 to 5, where 1 is most satisfied and 5 most dissatisfied, UOB got the highest score of 1.70, ahead of Standard Chartered (1.75), OCBC (1.78) and DBS (1.80).

DBS helps SMEs in the retail and F&B sectors reduce cost of managing cash

SINGAPORE (June 4): DBS says that digital transactions from its SME customers have increased by 70%, while transaction value has increased by 25%, since the bank launched DBS MAX, Singapore’s first mobile-based QR payment collection solution four months ago.

DBS MAX has been steadily expanding, with now around 2,000 merchants and over 3,000 outlets across Singapore adopting this solution. With this, companies are able to enjoy the ease and convenience of ‘plug-and-play’ digital payments collection solution.

Chew's Agriculture inks 10-year $27 mil sustainability-linked loan with DBS

SINGAPORE (May 29): DBS announced that Chew’s Agriculture, the local egg producer, has signed a 10-year, $27 million sustainability loan with the bank, marking the nation’s first sustainability-linked loan for an SME in Singapore.

Chew’s Agriculture was formerly a subsidiary of SGX-listed OneApex, which was previously known as Chew’s Group.

The loan was evaluated based on a series of environmental, social and governance (ESG) performance metrics.

DBS complied with rules as issue manager of Hyflux perps in 2016: MAS

SINGAPORE (Apr 8): The Monetary Authority of Singapore says that its supervisory reviews to date have not uncovered any impropriety on the part of DBS when performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016.

See: Hyflux rescue bid by SMI falls through amid conflicting statements

OCBC still bullish on banking stocks after a lacklustre FY18

SINGAPORE (Mar 26): OCBC Investment Research remains bullish on Singapore’s banking space while keeping its sector “overweight” with “buy” calls on both DBS and UOB, which have been given fair value estimates of $29.31 and $28.30, respectively.

Both stocks had dividend yields of 4.8%, with DBS and UOB trading at the respective book values of 1.3 times and 1.1 times, or at an average of 1.2 times historical book as at the close of Wednesday.

DBS is Maybank Kim Eng's top pick amid expectation of wider NIM in 2019

SINGAPORE (Mar 7): Maybank Kim Eng Research says DBS Bank is its top pick among local banks on the back of its strong low cost deposit franchise.

“Domestic banks, with lower loan to deposits (LD) ratios and higher mix of low cost deposits, should see net interest margins (NIMs) rise further,” says analyst Thilan Wickramasinghe in a report on Wednesday.

DBS Bank to accelerate expansion in India with establishment of wholly-owned subsidiary

SINGAPORE (Mar 4): DBS Bank on Monday launched its locally incorporated wholly owned subsidiary, DBS Bank India Limited (DBIL).

This marks a key milestone for the bank, which has been present in India for 25 years. DBS set up a representative office in India in 1994 and opened its first bank branch in 1995.

It currently operates in 12 cities: Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Pune, Nashik, Surat, Kolhapur, Salem, Cuddalore and Moradabad.

DBS launches robo-adviser that offers more than just ETFs

SINGAPORE (Feb 28): When it comes to robo-advisers, there are a dime a dozen out there.

Investors are spoilt for choice in deciding which platform to help them curate and manage a portfolio.

But DBS digiPortfolio, which was rolled out by DBS Bank on Feb 25, attempts to stand out from the crowd.

According to Lim Soon Chong, managing director and regional head of investment products and advisory at DBS Bank’s consumer banking and wealth management business, many of the robo-advisers out there offer passive investments, such as exchange traded funds (ETFs).

DBS undergoes target price cuts after a record FY18, but remains a 'buy'

SINGAPORE (Feb 19): Jefferies Singapore, OCBC Investment Research and RHB Research are maintaining their “buy” calls on DBS Group while lowering their price targets to $28.50, $29.31 and $28.80, respectively.

This comes after the release of its 4Q18 results, which saw earnings grow 8% y-o-y to $1.32 billion to bring the bank’s earnings for the full year to a record high of $5.63 billion.

80% of SMEs expect more incentives at Budget 2019 to help cope with business challenges: DBS poll

SINGAPORE (Feb 15): Some eight in 10 small and medium enterprises (SMEs) in Singapore are expecting the government to announce more incentives at Budget 2019 to help support business growth amid a challenging economic environment.

This is according to a dipstick poll by DBS Bank, which conducted a pre-budget survey with 150 of its SME clients last week.

More than a quarter of SMEs cited manpower issues such as hiring the right people and retaining employees as a major challenge, while more than a fifth complain of high operational costs.

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