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“LIVE MORE, BANK LESS”

DBS Bank is a Singaporean multinational bank, which was set up by the Government of Singapore on 16 July 1968. DBS stands for the Development Bank of Singapore Limited. DBS is the second largest bank in Southeast Asia with total assets of $518 billion in 2017. After GIC, DBS is the second largest sovereign wealth fund in Singapore. It became the first bank to hold three of the most prestigious bank honours such as Euromoney, Global Finance and the Banker.



INTERNATIONAL BANKING


The DBS banking system has more than 100 branches all over the world. It opened its first branch in Jurong. The bank has its branches and offices in several countries such as China, India, Japan, Australia, South Korea, Myanmar, the Philippines, Thailand, the United Kingdom, Vietnam, Hong Kong, Indonesia, Malaysia, and the United States.


A PURPOSE-DRIVEN BANK


DBS opened its first branch in Jurong. Its aim was to provide loans and financial aid to the manufacturing industries in Singapore. It also helps to establish and upgrade industries in Singapore which is already in existence. As a “People’s Bank” DBS always believed in the significance of good citizenship. DBS continued to create a sustainable bank.

They focused on three sustainability pillars:

1. Responsible Banking

2. Responsible business practices

3. Creating Social impact.

They also use certain sustainable development goals which include gender equality (SDG 5), affordable and clean energy (SDG 7), Industry, Innovation and Infrastructure (SDG 9), responsible consumption and production (SDG 12), climate action (SDG 13).



SAFETY FACTOR


The DBS bank has been awarded as the safest bank in the world for 11 consecutive years. It is considered as the safest bank because of its good reputation as well as a stable business over the world. It has the strongest digital security system and also known as the Best digital Bank in World for its technological solutions in banking. It also has unveiled its latest campaign about safety and how a trusted partner can help find a safe solution even in the most difficult times.


“LIVE MORE, WORRY LESS”


INDIAN CAMPAIGN


India is one of the fastest growing country with a huge economy, which will be one among the top 5 economies of the world. Establishment of new brand companies or banks in India will lead to its biggest growth. Hence attracting Indians are the company’s achievement. India goes crazy for advertisements, especially for the conventional ones which are telecasted in televisions. DBS knowing the strategy well looked into the well known celebrity and chose Sachin Tendulkar, God of cricket as their brand ambassador which pulled lots of customers.

DBS bank roots in India from 1995 until 2020. This is a long presence for any organisation or banks to be in a country. In the last 25 years, this bank has seen 2 recessions and still survived in India. It has been aggressively growing in India by setting up its branch and operations from 12 cities to 20 cities within a year. DBS India accounts for around 5% do the bank’s global share. In India, the bank has invested around 7 crore and has 12 branches so far. It also plans to operate around 70 branches in the next 4 years. At present there are 1.2 million individual customers, which is a combination of saving accounts and wallets.



WORKING OF DBS BANK FROM SINGAPORE


While other banks still sticking to the conventional banking system, DBS bank took banking to the next level. It is completely digitalised and also they provide a safe experience to the customers. Unlike other banks, DigiBank is completely paperless which is eco-friendly. Some of the key features of this bank is that there’s no minimum balance requirements and it offers 7 % interest rate every 3months on the money the customers deposited. Since DigiBank is entirely application based, there is no physical existence. One or two branches in the city is for the sake of customer helplines. People can open an account just by downloading the app and start banking or closing an account can also be done through this application. Debit card will be sent to the address that you filled in the application at the time of opening of the account. DigiBank provides lots of offers and discounts also unlimited ATM transactions from any ATM are also strategies to attract many customers. DBS banking will create a revolution in the upcoming generation in banking sectors.







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