“Decarbonising supply chains is never easy. But you know what? It's not impossible.” - Tan Su Shan, Group Head of Institutional Banking, DBS. We are proud to be the first partner bank in an industry-wide effort to accelerate decarbonisation in the fashion sector. The Future Supplier Initiative (FSI) empowers brands and suppliers to significantly reduce their carbon footprint through a combination of financial incentives and technical support. The initiative will launch in Bangladesh and aims to expand into other key apparel manufacturing regions, including Vietnam, India, China, Italy, and Turkey. Supported by global brands such as Bestseller, Gap, H&M Group, and Mango, its reach and impact are set to grow exponentially. Our involvement with FSI builds upon our announcement last November, when DBS partnered H&M Group and Guidehouse on a first successful transaction with a manufacturer in India. This proof-of-concept has yielded tangible results, with a notable 50% reduction in emissions achieved in the manufacturer’s factory operations. Read more here: https://go.dbs.com/4eiVJC5 #Sustainability
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“Crossing SGD 100 billion in market capitalisation is a seminal moment for DBS and Singapore. It is testament to the value we have been able to unlock through the multi-year structural transformation of our franchise. We are also proud to fly Singapore’s flag high on the international stage.” – Piyush Gupta, DBS CEO Recently, we had the honour of becoming the first Singapore-listed company to achieve SGD 100 billion in market capitalisation – the culmination of a multi-year structural transformation of our franchise. By taking the step to pursue a digitalisation strategy, we strengthened our deposit franchise. Together with high ROE businesses – wealth management, global transaction services and treasury market sales – as well as enhanced risk management, we’ve delivered a consistently strong financial performance. Our 2023 return on equity of 18% placed us in the top 10% of the world’s largest banks. And in Q1 2024, our ROE hit a new quarterly high of 19.4%. We’re thankful for the support of our customers and our employees. We remain committed to not only doing well, but also doing good. For instance, as a purpose-driven bank, we’ve committed up to SGD 1 billion over 10 years to support vulnerable communities. Read more about our journey in this article below.
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Chronic obstructive pulmonary disease (COPD) affects millions globally with a 5 year mortality rate of around 25%. The disease is characterised by lung damage and narrowed airways, leading to breathing difficulties. Dupilumab, a drug that can treat asthma, chronic rhinosinusitis, among other conditons, has shown superior results in enhancing lung function and reducing flare ups, relative to standard treatments. This could be a breakthrough for type 2 COPD treatment, pending approval from regulatory authorities in the US, EU, and China. DBS believes the likelihood of approval from the US, EU and China in 2H24 is high as the European Medicines Agency’s Committee for Medicinal Products has issued a positive opinion, which is a good sign. Which pharmaceutical companies could benefit? Find out what we think at https://go.dbs.com/3RPmzrP Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/3W8j7vi #investing #stockmarket #pharmaceuticals #healthcare #global #future #us #china #eu
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“Stopwatch in hand, camera mounted on tripod behind me (my second pair of eyes), I began collecting evidence… counting each loud thud that signaled bed linens dropping into an industrial-sized washing machine. As a project manager in my family’s commercial laundry business at the time, I was informed by a customer that our machines had unexpectedly processed fewer pieces than usual. I’d spent the weeks prior running every test imaginable to no solution… until the hour drew to a close and the bed linen count stood definitively at a lower-than-usual number. In that warm and humid room, punctuated by the sounds of clothes tumbling, water rushing and the mechanical whirring of machines, I breathed a sigh of relief as I finally found my answer: the machinery was fine – we just needed to optimise the workflow. Even though I’ve made a successful pivot from the commercial laundry industry, through the Institute of Banking and Finance’s Technology in Finance Immersion Programme (TFIP), to become a database engineer at DBS three years ago, I still rely on the same problem-solving mindset every day – but with software instead. Specifically, my team offers databases as a managed service to the various applications teams across the bank. Simply put, we offer databases pre-built according to requirements set by them. Since we still own and manage the databases, we’re able to cater to their requests, or solve any issues they may face. My mid-career switch from commercial laundry to banking and technology might sound out of left field – but I was a Computing graduate from the National University of Singapore (NUS). I’ve always known that I wanted to return to this industry, so I kept up to date with software engineering skills through alumni courses offered by NUS. That made the transition into my current role much easier – I was offered a full-time position in DBS just four months into the two-year programme. This was definitely thanks to all the seasoned leads and experienced members of the department who mentored me. Having gone through this career transition, I wanted to do something for others going down a similar path. When I was offered the opportunity to design and teach a crash course in various coding languages together with TFIP for future mid-career hopefuls, I jumped at the opportunity. Truth be told, it’s definitely a challenge to juggle work and teach these courses – I’ve taught three cohorts so far! But watching many of my students eventually clinch a role in DBS has honestly been a career highlight for me.” - Calvin Ng, Database as a service team #HumansofDBS #AllHandsOnDeck #TrustYourSpark
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Here's some trivia for #ThrowbackThursday: Did you know, in the early days of analog technology, our IT team used to code on punch cards, and they had to be painstakingly perfect. “If you find that the logic is wrong, we have to make the change. You find which card is wrong, pull it out, retype and get another card to replace it,” recounted Ms Cheong Yin Ping, one of the System Officers at DBS’ Computer Services Department then. To better serve customers, DBS launched our first-of-its-kind Autosave programme in 1980, and a year later, we rolled out our ATMs. In 1985, DBS was part of the consortium that set up the Network for Electronic Transfers (NETS), an electronic payment service provider. These milestones – and many others – would not have been possible without our first-ever IT team set up in the 70s, whose tenacity and drive laid the foundations for the banking innovations we have today. 🎙️Keen to hear more? Head over to our podcast channel, where former employees share the moments that defined these early days of banking: https://go.dbs.com/3XHHl0C #TrustYourSpark
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We’re always asking ourselves: how can we do better? One of the ways we continue to push the envelope is through embracing and leveraging new technology to serve and engage our customers. DBS Bank was recently named the Most Innovative Bank in the Asia Pacific region at the Global Finance Innovators 2024 Awards! We were recognised for several innovations, including the use of gen AI in a fraud detection tool to raise our precision and capture rate by 50%. Other innovations that contributed to our win include our cross-border QR payments and digital liquidity management solutions. Thank you to everyone (within and beyond DBS) who contributed to this success. We will continue to deliver our best, reimagining banking of the future. #banking #technology #fintech #innovation
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From Australia to India, Singapore, and the US, the much-feared property market adjustment under the weight of some of the highest rates seen in decades has not materialised. In many industrial economies, deleveraging since the Global Financial Crisis has pushed down household debt to GDP ratios substantially, making debt service more manageable. Furthermore, with a tight labour market and booming equities, income growth has been strong, giving some the confidence to take on higher rates. In some countries, a pick-up in immigration has helped boost demand for housing. Tight housing inventory is also compounding the supply side of the narrative. Are these favourable dynamics here to stay? Find out what our economists think at https://go.dbs.com/4eyGFjX Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/3VEYIwk #investing #economy #realestate #property #stockmarket #jobs #financial #global #asiapacific #singapore
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“When I was growing up, a big part of me wanted to do meaningful work. I even briefly considered teaching! I didn’t exactly expect myself to join banking. Though that changed over time, my guiding ethos has always been constant in the choices I’ve made in my career. Today, I am glad to say I find fulfilment in my work at DBS. I started out as an Associate with DBS in the Cards & Unsecured Loans team. The pace of transformation and impact that Consumer Banking had on its customers intrigued me. This aligned with my purpose of doing impactful work, and I was glad that I was able to collaborate closely with government agencies to support national agendas, with my contributions helping to serve a big proportion of the Singaporean population. The great thing about being in a large department like Consumer Banking, and an even larger organisation like DBS, is being empowered with opportunities to explore various roles across the bank over the years. From starting out in Cards & Secured Loans, I moved across to different functions like distribution in the POSB Franchise & Strategy, followed by Deposits & Secured Lending, and thereafter Retirement Planning. I am now with Consumer Banking SG Ecosystems & Cross-Border Transfers, where we work with stakeholders to develop differentiated value propositions for our customers and address their cross-border payment needs. Every move was a humbling experience. Just when I thought I had gotten a decent grasp, moving to a new role reminded me of how much more there was to learn. The more you know, the more you realise you don’t know. I’m glad to have a career in DBS that gives me the opportunity to have internal moves, allowing me to have these learning experiences while doing work that gives me a sense of fulfilment and purpose.” – Diane Chang, SG Ecosystems, Consumer Banking Group Interested in building a long term career in DBS? Find out more here: https://go.dbs.com/3XxwfLA #LifeAtDBS #LiveFulfilled
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“Knee-deep in the lapping waves along the shores of East Coast Park, I relied on muscle memory from years of weekly practice to steady the sailboat against the calm tide. It was 1pm on a sweltering Saturday, and the beginning of six hours of sailing training. I did a final scan of the sail-ties that secured the sail to the mast, slotted in the daggerboard and fixed the rudder, before launching the boat off the slippery ramp… for my nine-year-old son. I watched him sail into the distance, before returning on the shore to my other two children, aged six and four, who were happily playing with their friends. My wife had also just returned from dropping our 12-year-old daughter, a more seasoned sailor (yes, we have four kids) off at the National Sailing Centre. With the two young ones in tow, we’d then run our weekly errands over the next few hours, before returning to pick up our two sailors. This is how we’ve spent our weekends – yep, both days – for the last two years since my daughter first found her passion in the sport. Apart from the weekends, my wife and father-in-law take turns to send them for training an additional one to two times a week. Our daughter has tried her hand at the ballet, gymnastics, athletics, piano and drawing, but nothing took off as much as sailing did. I know exactly what it’s like when you find a passion that sticks. It took me seven years and five different roles in various companies before I found my place at DBS – and I’ve been here for the last 17 years. At DBS, I’m in the business of facilitating transformation. I’ve been involved in the various programmes that has made DBS the customer-obsessed, data driven and agile organisation it is today. These days, I support various performance cells, which comprise cross-functional members across the bank, to continuously improve the way they collaborate to deliver their customers journeys. As a coach, I listen, observe and understand each team’s context and challenges, before working with them to explore and experiment with relevant practices. It has been such a rewarding journey so far. Beyond helping the teams to continuously improve, I’ve also gained much – from getting a better understanding of various businesses, to forming new relationships with folks from different parts of the organisation. Whether it's supporting my colleagues in reaching their business goals or encouraging my children to follow their passion, I am truly blessed and grateful for the opportunities and trust placed in me." - Soh Cheow Tuan, Group Strategy, Transformation, Analytics & Research #HumansofDBS #TrustYourSpark
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We are honoured to be recognised as one of Singapore’s 100 Leading Graduate Employers – placing 1st for the 11th year running in Banking & Financial Services, 2nd in Investment Banking & Investment Management, and 5th overall in the top 100. This win reaffirms our commitment to deliver an attractive employee value proposition that addresses the interests of graduates today, one in which we invest in their growth and build their long term careers. More than just a career, it is the way we work, our culture and purpose that makes the DBS experience fulfilling: https://go.dbs.com/3yYVIDe #LiveFulfilled #LifeAtDBS
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