DBS: A purpose-driven and innovation-led bank for Asia

In 1968, as Singapore was just finding its feet as an independent republic, a bank was established to finance the future of a young nation.

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The Development Bank of Singapore, as it was then known, DBS was tasked with nation-building, underwriting the industrialisation of a city that dared to dream. Nearly six decades on, DBS has not only become Southeast Asia's largest bank by assets but has also been recognised as the World's Best Bank multiple times by leading global publications. Yet, its identity remains deeply interwoven with Singapore's own journey.

"These developmental roots speak to our culture of purpose in nation-building and helping our clients on their growth paths," says DBS CEO Tan Su Shan.

From shaping skylines to seeding industries, DBS in its early years played a central role in Singapore's rise. Its involvement in strategic industrial projects laid the groundwork for Singapore's future in many sectors, including high-tech industries. It also helped develop pivotal real estate projects, including the Raffles City Convention Centre, then the largest commercial property development in Singapore. These projects not only transformed the cityscape but also sparked economic activity that propelled the country forward.

As Singapore developed, DBS evolved from a state-led development institution into a full-fledged commercial bank. It played a crucial role in establishing Singapore's financial infrastructure with pioneering innovations. The bank launched Autosave, Singapore's first interest-bearing current account, in 1980 and introduced PayLah! in 2014, driving digital payment adoption well ahead of the national PayNow system.

In addition, DBS helped catalyse the development of Singapore's fledgling capital market, leading the stock market listings of iconic brands like Singapore Airlines and SingTel. The bank enabled participation of retail investors in new listings via ATMs—a global first.