DBS Bank announced that it has been named the “Safest Bank in Asia” for the 12th consecutive year by New York-based trade publication Global Finance. DBS’ rankings as the fourth-safest commercial bank in the world and 14th safest bank globally remain unchanged from 2019 and 2018.
Joseph D. Giarraputo, Global Finance publisher and editorial director, said, “For most of 2020, the world has been lashed by the COVID-19 pandemic, a steep drop in economic activity and, in some cases, serious social unrest. Any of these developments could have significantly impacted banks’ credit worthiness. Surprisingly however, the relative position of the world’s largest banks on Global Finance’s World’s Safest Banks 2020 lists has been mostly stable. One can only speculate on when, or if, the changes will come. In the meantime, the rankings will be used by companies, investors and individuals to gauge the relative safety of the banks with which they choose to do business.”
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“In a year of major turbulence on several fronts, DBS is confirmed to be the safest bank in Asia for the 12th consecutive year and one of the World’s Safest Banks globally. It is a sign of the bank’s strength and resiliency, and the result of its strong presence in key markets across the region,” added Global Finance.
Said Chng Sok Hui, Chief Financial Officer of DBS Bank, “We are honoured that Global Finance has recognised us as the Safest Bank in Asia for the 12th consecutive year. During these challenging times, we remain committed to upholding the trust of our customers and ensuring that we continue to seamlessly provide for all their banking needs. While the environment is likely to remain uncertain, we are confident that our strong capital base, deep customer relationships and robust digital strategy will ensure that we are able to continue supporting our customers and communities.”
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