Mumbai, October 3, 2019: DBS Bank today announced that it has retained the title of “Safest Bank in Asia” for the 11th consecutive year, awarded by New York-based trade publication Global Finance.
DBS remains the fourth-safest commercial bank in the world, and 14th safest on Global Finance’s list of the World’s 50 Safest Banks.
Joseph D. Giarraputo, Global Finance publisher and editorial director, said, “Asia’s export stability is currently being tested by tectonic shifts in trade policy. The banks that earn Safest ratings help their clients maintain stability in the face of rapid change and growing uncertainty. These even-keeled institutions are well-equipped to steer through any turmoil.”
“DBS’ expansion strategy is vindicated by its consistent ranking as the ‘Safest Bank in Asia’, and among the safest banks in the world. Given current global economic turbulence, financial stability is more important than ever, and DBS’ steadying hand remains a beacon to its clients,” added Global Finance.
Said Piyush Gupta, CEO of DBS Bank, “We are honoured that Global Finance has recognised us as the Safest Bank in Asia for the 11th year running. Our consistently strong placement in these rankings is testament to our long-standing customer relationships, earnings power and solid capital base. As we continue to define the future of banking, we remain committed to upholding the trust that our stakeholders have come to expect of us.”
Global Finance’s annual ranking of the World’s 50 Safest Banks has been the recognised and trusted standard of financial counterparty safety for a quarter-century. Winners were selected through an evaluation of long-term foreign currency ratings — from Moody’s, Standard & Poor’s and Fitch — of the 500 largest banks worldwide.
This year, DBS has also been recognised by Euromoney as the World’s Best Bank. This follows similar recognition in 2018 from Global Finance and The Banker, who named the bank the “Best Bank in the World” and “Bank of the Year – Global”, respectively, making DBS the first bank in the world to hold all three titles at the same time.