Brand value of USD 5.4 billion gives it significant lead over Singapore's No. 2 brand
DBS Bank continues to be Singapore's Most Valuable Brand, according to Brand Finance's annual 'Top 100 Singapore Brands' report. With a brand value of USD 5.4 billion, this is the fifth consecutive year the bank has retained its leadership position in Singapore.
According to Brand Finance, DBS has a significant lead vis a vis the rest of the pack, with close to USD 1.8 billion of brand value between itself and the second-most valuable brand. Given this strength, it is 'unlikely that DBS… will be dethroned from the top of the Brand Finance Top 100 Most Valuable Singapore Brands table', the London-based consultancy added.
Samir Dixit, Managing Director of Brand Finance Asia Pacific said, 'DBS is in a very strong position and it will continue to grow its brand strength and brand value given the ANZ acquisition. The strong and stable brand strength indicates that DBS is highly focused on their brand growth and makes concentrated efforts to build their brand and not just products to differentiate themselves. A strong brand further allows them to be competitive regionally and not just locally.'
He added, 'What made Singapore Airlines the #1 brand for several years and now DBS the #1 brand for five years is their ability to drive the strength of their brand. Both are AAA rated brands, clearly indicating that their brand is driving the business.'
In October last year, DBS announced the acquisition of ANZ's wealth and retail banking business in five markets, namely Singapore, Hong Kong, China, Taiwan and Indonesia. The transaction cements the bank's position as a leading wealth player in Asia, and also enables a rapid scale-up of its digital strategy in Indonesia and Taiwan.
Karen Ngui, Head of Group Strategic Marketing & Communications, DBS Bank said, 'While banking as an industry is being disrupted, we have sought in recent years to embrace these changes by reimagining banking and the way we do marketing. We are delighted that these efforts have been recognised time and again, with DBS having been named World's Best Digital Bank last year, and now, Singapore's most valuable brand for the fifth year. We will continue to embed ourselves in the customer's journey and to operate like a 22,000-person startup, delivering digitally innovative solutions so as to make banking simpler and faster.'
London-based Brand Finance is an independent brand strategy and valuation consultancy. The Singapore Top 100 Brands report is published annually and incorporates data from all listed companies. Each brand is accorded a brand rating: a benchmarking study of the strength, risk and future potential of a brand relative to its competitor set; and a brand value, which is a summary measure of the financial strength of the brand.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's 'AA-' and 'Aa1' credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named 'World's Best Digital Bank' by Euromoney. The bank has also been recognised for its leadership in the region, having been named 'Asia's Best Bank' by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named 'Safest Bank in Asia' by Global Finance for eight consecutive years from 2009 to 2016.
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 a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
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 of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
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