DBS named World's Best Bank by Euromoney magazine

DBS group chief executive Piyush Gupta receiving Euromoney's World's Best Bank award in London on July 10, 2019.
DBS group chief executive Piyush Gupta receiving Euromoney's World's Best Bank award in London on July 10, 2019.PHOTO: DBS

SINGAPORE - DBS has been named the World's Best Bank by Euromoney magazine in a first for an Asian bank.

Euromoney editor Clive Horwood said DBS represented what a bank today should look like: "No other institution has worked so hard to embrace and lead digital disruption."

The latest award follows two other honours DBS received last year.

Global Finance magazine named it Best Bank in the World in August and Financial Times publication The Banker named it Bank of the Year - Global three months later.

The award was presented to DBS group chief executive Piyush Gupta in London on Wednesday (July 10).

He said: "With this award, we are now the first bank ever to concurrently hold three of the most prestigious global best bank honours."

DBS Group Holdings' first-quarter net profit rose 9 per cent to $1.65 billion from $1.52 billion in the same period last year on the back of higher interest rates and growth in non-trade loans.