DBS NAMED SAFEST BANK IN ASIA FOR THE 16TH CONSECUTIVE YEAR BY GLOBAL FINANCE

DBS ranked 2ndon the 50 Safest Commercial Banks list for the third consecutive year

SINGAPORE,Oct. 18, 2024/PRNewswire/ -- DBS Bank today announced that it has been named"Safest Bank inAsia"byNew York-based trade publication Global Finance. This is the 16thconsecutive year that DBS has been recognised with this accolade, extending a track record dating back to 2009. The bank also maintained its 2ndposition in the'World's 50 Safest Commercial Banks'list and ranked 12thin the'World's 50 Safest Banks'list, holding both positions for the 3rdconsecutive year.

The Global Finance annual rankings of the World's Safest Banks have been the recognised and trusted standard of financial counterparty safety for more than three decades. 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.

Joseph D. Giarraputo, Global Finance founder and editorial director, said,"Amid ongoing economic volatility and increasing scrutiny of digital currencies, financial institutions must contend with an ever-growing number of risks. DBS continues to be resilient in its risk management across their network and a bedrock of banking services for its clients inAsia."

Said Chng Sok Hui, Chief Financial Officer of DBS Bank,"It is an honour to be recognised by Global Finance as Safest Bank inAsiayet again. In a world marked by increasing geopolitical and economic uncertainties, DBS'resilient franchise and strong credit ratings – underpinned by a solid balance sheet, robust controls and sound risk management practices – instils confidence from our stakeholders. This accolade is a testament to our financial strength, upon which we continue to fortify our role as a trusted partner to our customers and the community."

DBS has received global recognition from several prestigious financial publications, having been named"World's Best Bank"multiple times by Euromoney, Global Finance and The Banker, and"World's Best Bank for Corporate Responsibility"and"World's Best Digital Bank"by Euromoney. Additionally, DBS has been featured in numerous case studies, with the latest byHarvard Business School, published in 2024, accessiblehere.

About DBS

DBS is a leading financial services group inAsiawith a presence in 19 markets. Headquartered and listed inSingapore, DBS is in the three key Asian axes of growth:Greater China,Southeast AsiaandSouth Asia. The bank's"AA-"and"Aa1"credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named"World's Best Bank" by Global Finance,"World's Best Bank" by Euromoney and"Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named"World's Best Digital Bank" by Euromoney and the world's"Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the"Safest Bank inAsia" award by Global Finance for 16 consecutive years from 2009 to 2024.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred inAsia, DBS understands the intricacies of doing business in the region's most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations inAsiaand emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visitwww.dbs.com.

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SOURCE DBS BANK LTD