DBS has been named Global Bank of the Year 2025 by The Banker, part of the Financial Times Group, at the publication’s annual Bank of the Year awards announced on December 4. This is the bank’s third win in the category after 2018 and 2021.
The Singapore-headquartered lender also secured Asia Bank of the Year, Singapore Bank of the Year, Investment Bank of the Year – Asia, and Investment Bank of the Year for Financial Institutions Group. The awards were decided from submissions by 294 banks globally.
“Some of the most exciting technological applications in banking are often found in Asia — and frequently adopted by DBS. The lender’s investment in AI to protect customers from financial scams — a growing concern in Singapore — is noteworthy, as is its commitment to training staff on the new technology. Its work on smart contracts designed to deliver faster, smoother payments, including across jurisdictions, is another of the many initiatives that impressed our judging committee,” Silvia Pavoni, editor in chief at The Banker, said.
AI and ML integration
According to The Banker, DBS’ approach to applying AI, machine learning and digital infrastructure across operations and customer services was a key factor in the assessment. The publication highlighted the bank’s efforts to deploy generative AI tools for staff, real-time fraud detection systems scanning millions of digital transactions daily, and AI-enabled advisory tools in wealth management.
DBS Bank betting on new tech
DBS recently crossed $100 billion in market capitalisation in 2024, the first Singapore-listed company to do so, and passed $100 billion in June, reaching close to $120 billion as The Banker went to press. For FY24, the bank recorded 11% growth in net profit and 11% growth in Tier-1 capital, with return on equity at 18%, cost-to-income ratio at 39.9%, and non-performing loan ratio at 1.1%, The Banker said.
“We are honoured to be recognised as Global Bank of the Year by The Banker yet again. But we will remain hungry, humble and nimble. We will continue to push boundaries, embracing new technologies and sustainable practices to shape the future of banking.” Tan Su Shan, CEO of DBS, added.
This year’s awards also mark a restructuring of The Banker’s programme, combining previous standalone investment and transaction banking awards into a single evaluation process. Banks from 132 countries were recognised, as per The Banker.