DBS BANK LTD. Business Review
Trust level is highly likely to be safe
Business Overview
TrustScore
DBS BANK LTD.
UEN:196800306E
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TrustScore Analysis
DBS BANK LTD. has a TrustScore of 100. Businesses in this category exhibit exceptional reliability and credibility. They are highly trusted within their respective industries and provide a secure environment for transactions and engagements.
Our preliminary analysis has revealed key insights about DBS BANK LTD.'s performance and market presence. Here‘s a summary of our findings:
Positive highlights
Has been operational for several years
Official business profile found on major search engines
Has accessible contact information online
Negative highlights
- No employer brand presence on career platforms
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Corporate Information for DBS BANK LTD.
THE DEVELOPMENT BANK OF SINGAPORE
Contact Information for DBS BANK LTD.
Associated News for DBS BANK LTD.
MAS suspends DBS from new business ventures, reducing branch and ATM networks over disruptions
For six months, DBS Bank will have to suspend non-essential changes to its IT systems, and will not be allowed to take on new business ventures, said the Monetary Authority of Singapore (MAS) on Wednesday. During this period, only IT system changes related to security, regulatory compliance and risk management will be allowed, said MAS. “This is to ensure that the bank dedicates the needed resources and attention to strengthen its technology risk management systems and controls,” it said. DBS will also not be allowed to reduce the number of its branches and automated teller machines (ATMs).
1 November 2023
MAS Report on Potential Uses of a Purpose-Bound Digital Singapore Dollar
Government Vouchers: At the 2022 Singapore FinTech Festival (SFF 2022), DBS Bank Ltd (DBS) and GovTech’s Open Government Products Division (OGP) will test the use of PBM for disbursements to selected individuals. Trial participants can use RedeemSG [4] vouchers at participating food and beverage outlets [5] , and merchants will directly receive the underlying digital SGD for the vouchers redeemed.
Trafigura closes USD2.4bn-equivalent Syndicated Revolving Credit Facility and Term Loan Facilities
Trafigura mandated DBS Bank Ltd. (“DBS”), Standard Chartered Bank (Singapore) Limited (“SCB”) and Sumitomo Mitsui Banking Corporation Singapore Branch (“SMBC”) as the Mandated Lead Arrangers and Bookrunners. DBS also acted as Global Coordinator of the transaction. In total, twenty-two financial institutions joined the USD tranches of the Facilities during syndication. Agricultural Bank of China Shanghai Huangpu Branch (“ABC”), Bank of Communications Shanghai Putuo Sub-branch (“BoComm”), China Construction Bank Shanghai Pudong Sub-branch (“CCB”) and the Export-Import Bank of China (“China EXIM”) were the Mandated Lead Arrangers and Bookrunners in connection with the CNH syndication of the Facilities. In total, ten financial institutions joined the CNH tranche during syndication.
DBS raises fixed rate home loan offerings to 3.5% after latest revision
S Bank, Singapore’s largest lender, has raised the rates on its fixed rate home loans to 3.5 per cent per annum. A check on its website on Tuesday (Oct 4) morning showed four fixed rate packages available, ranging from two to five years. All four are set at 3.5 per cent per annum. DBS had previously removed all fixed rate mortgages from its website, as it conducted a review following another steep interest rate hike by the US Federal Reserve last month. The same fixed rate of 3.5 per cent also applies to its two-in-one home loans, which allows borrowers to structure up to half of their loan amount in fixed rates and the remainder under a floating rate package.
4 October 2022
DBS announced that it has completed its first live transaction on the Singapore Trade Data Exchange (SGTraDex) – a digital data exchange that facilitates trusted and secure sharing of data between supply chain ecosystem partners. The transaction was done by way of an electronic bunker delivery note (BDN). The maiden transaction was completed with leading bunker player Kenoil Marine Services (Kenoil), in collaboration with mass flow meter data logger service provider Brightree. By digitalising the bunker delivery note, DBS, Kenoil and its counterparties are able to ascertain the trade data at source to validate the transaction details in a timely manner. This fosters greater trust and transparency across the trade ecosystem. The objective is to provide bunker players faster access to working capital and enhance their cash flow management, while providing a trusted and secure environment for banks and participants operating in the ecosystem.
DBS announced that it has completed its first live transaction on the Singapore Trade Data Exchange (SGTraDex) – a digital data exchange that facilitates trusted and secure sharing of data between supply chain ecosystem partners. The transaction was done by way of an electronic bunker delivery note (BDN). The maiden transaction was completed with leading bunker player Kenoil Marine Services (Kenoil), in collaboration with mass flow meter data logger service provider Brightree. By digitalising the bunker delivery note, DBS, Kenoil and its counterparties are able to ascertain the trade data at source to validate the transaction details in a timely manner. This fosters greater trust and transparency across the trade ecosystem. The objective is to provide bunker players faster access to working capital and enhance their cash flow management, while providing a trusted and secure environment for banks and participants operating in the ecosystem.
Company Industry
Singapore Standard Industrial Classification (SSIC)
64120
Full banks
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Scam.SG's TrustScore is an AI-driven engine that evaluates a business's trustworthiness by analysing data such as customer feedback, behavioral patterns, and compliance records. This comprehensive assessment results in a numerical score reflecting the entity's reliability.
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