DBS tops Forbes 'World's Best Banks' list in India

Retains leading position for the second consecutive year

MUMBAI, India, June 9, 2021 /PRNewswire/ -- DBS has been named by Forbes in their list of World's Best Banks 2021. DBS was ranked #1 out of 30 domestic and international banks in India for the second consecutive year.

This is the third edition of the 'World's Best Banks' list by Forbes, conducted in partnership with market research firm Statista. Over 43,000 banking customers across the globe were surveyed on their current and former banking relationships. The customer survey rated banks on general satisfaction and key attributes like trust, digital services, financial advice, and fees.

"This year's list includes a record number of award winners, reflecting consumers' increasing confidence in their banks," revealed Forbes in its official announcement.

Commenting on the recognition, Surojit Shome, Managing Director and CEO, DBS Bank India, said, "We are humbled and proud to be featured on the 'World's Best Banks' list for the second consecutive year. Over the years, we have built a strong customer-centric franchise, and this recognition shines the light on the resilience and a strong sense of purpose demonstrated by our employees to support customers amid the global crisis. We will continue to deepen customer relationships and build journeys that proactively address their needs."

Felix Kapel, Lead Analyst at Statista for the World's Best Banks project, said, "DBS India excels in multiple sub-dimensions. The general satisfaction and customer recommendation of DBS is great. These factors have helped DBS retain the No.1 spot in India."

Recently, DBS Bank India was recognised as 'India's Best International Bank 2021' by Asiamoney. DBS was named 'Safest Bank in Asia' for the 12th consecutive year by New York-based trade publication Global Finance in 2020. The bank was also Global Finance's pick for 'Best Bank in the World' in the same year, making it the third consecutive global Best Bank accolade received by DBS. Previously, DBS was named 'World's Best Bank' by leading financial publication Euromoney in 2019.

DBS Bank has been present in India for 26 years and has grown consistently by strengthening its small and medium-sized enterprise business and consumer lending operations to build scale and become a full-service bank. Further, it has showcased a long-term commitment to India with the establishment of its local wholly-owned subsidiary, DBS Bank India Limited (DBIL) and the recent acquisition of Lakshmi Vilas Bank. The amalgamation of Lakshmi Vilas Bank with DBIL in November 2020 bolstered the bank's physical presence in the country. DBS now has a network of nearly 600 branches across 19 states in India.

To view the complete Forbes list, visit https://www.forbes.com/worlds-best-banks/#5c1a16312951

About DBS

DBS is a leading financial services group in Asia with a presence in 18 markets. Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Banks of the Year" by The Banker and "Best Bank in the World" by Global Finance. DBS was also ranked No 1 in India by Forbes in its 2020 list of the World's Best Banks.

DBS Bank has been present in India for 26 years, having opened its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India's first mobile-only bank - digibank, which now has ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of nearly 600 branches across 19 states in India.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises as it banks the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 30,000+ staff representing over 40 nationalities. For more information, please visit http://www.dbs.com.