[update][3] It also holds market-dominant positions in consumer banking, treasury and markets, securities brokerage, equity and debt fund-raising in other regions aside from Singapore, including in China, Hong Kong, Taiwan and Indonesia.
[10] 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 L.P. Gender-Equality Index (GEI) that was published in 2018.
The establishment of the DBS marked the first time the private sector was allowed to fully participate in the financing of manufacturing and other industrial projects in Singapore.
Set against a white backdrop, the mark consisted of a cluster of four inward-pointing red arrows shaped after the caissons of its former headquarters – DBS Building on Shenton Way.
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.
[21][22] On 14 September 2015, DBS Bank announced that it will progressively cease IB Asia as it was not able to achieve economies of scale when operated as a single entity.
In 2012, DBS introduced a New Generation IB Secure Device as part of the financial industry-wide initiative for an even safer online banking experience.
It allows customers to view their banking and credit card accounts, transfer funds and pay bills via their mobile phones.
[27] In 2014, CEO Piyush Gupta and his leadership team launched a digital transformation programme intended to "Make Banking Joyful".
[32] At the bank's annual general meeting held on 31 March 2023, CEO Piyush Gupta apologised for the service outage that had occurred earlier in the month.
Chairman Peter Seah announced that a special board committee had been set up to investigate the incident and that external experts would be brought in to assist the bank.
[35] On 1 November 2023, in response to the incidents, the MAS imposed restrictions on DBS: prohibiting it from acquiring any new business ventures and requiring it to pause all non-essential IT changes for 6 months.
CEO Piyush Gupta apologised for the disruption and stated that the bank will set aside a special budget of S$80 million to enhance system resiliency.
DBS has set aside a special budget of S$80 million to enhance system resiliency and hopes to have a more robust recovery process in place by the end of Q1 2024.
The bank now has a network of 530+ branches across 19 states in India[39] with presence in cities such as Bangalore, Chennai, Cuddalore, Calicut, Kochi, Hyderabad, Kolhapur, Kolkata, Coimbatore, Moradabad, Indore, Mumbai (Andheri, Nariman Point), Nashik, New Delhi, Noida, Gurugram, Pune, Salem, Surat and Vadodara.
[42][43] 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.
[44] On 31 July 2013, DBS announced that it had allowed the Bank Danamon bid to lapse, but that they remained committed to Indonesia and will continue to invest and grow the franchise.
In January 2022, DBS announced the acquisition of Citigroup’s consumer banking business in Taiwan, paying a premium of S$930 million (NT$22 billion) at the close of the deal.
[52] DBS had failed to maintain relevant and up-to-date due diligence information on the customers’ beneficial ownerships, and to update their risk ratings for money laundering and terrorism financing.
DBS Bank (Hong Kong) failed to continuously monitor business relationships and conduct enhanced due diligence in high risk situations.