DBS Ranked As ‘Best Bank’ Not Just in Asia But in the World

As you’ve probably read in news reports, Singapore is the leading country when it comes to quite a few things.

This includes our airport, our Chicken Rice (yes, Malaysia, I said it), and our ability to sniff out the opening of a new fast-food restaurant before it’s even announced.

Honourable mentions include our low crime rate (low crime doesn’t mean no crime) and being able to drink alarming amounts of bubble tea without dying.

Now, yet another thing has been added to that list, and it’s one of the last things you’d expect.

DBS Ranked As ‘Best Bank’ Not Just in Asia But in the World

DBS has been named the “Best Bank in the World” by New York-based financial publication Global Finance (GF), according to TODAY.

This is the second time in three years that DBS has been recognised as the world’s best bank in GF’s World’s Best Global Banks 2020 Awards.

If you’re too busy trying to wrap your head around the fact that there are awards for banks to appreciate the honour, you’re not the only one.

But there are reportedly many of these awards, and DBS has won several of them.

In 2018, it was named “Global Bank of the Year” by The Banker, and the “World’s Best Bank” by Euromoney magazine in 2019.

For the latest award, DBS was lauded for their investment in digital banking, allowing them to continuously serve customers even with the Covid-19 pandemic and the spike in demand for digital banking services.

DBS’s CEO, Piyush Gupta, said the bank was humbled by the achievement.

“Without a doubt, Covid-19 is the crisis of our generation. In this extraordinarily difficult time, we recognise the integral role that banks play in supporting employees, customers and the wider community

“We are humbled by the acknowledgement of our efforts on this front, particularly how our investments in digital, and our culture of inclusivity, have enabled us to serve customers in their time of need”, he said.

Offered Free Insurance Coverage for Covid-19

Considering how the bank has served its customers during the coronavirus pandemic, it’s no wonder why they attained this prestigious award.

Back in Feb, when the coronavirus first started ravaging the country, causing everyone to panic-buy toilet paper, DBS announced it would offer its 5 million DBS and POSB customers 30 days of free Covid-19 coverage.

They later extended the enrolment deadline by one month.

Those who signed up for the coverage will receive S$100 per day of hospitalisation and a lump sum of S$1,000 if they are admitted to the intensive care unit.

They would also receive worldwide coverage if they travelled during the period of coverage.

As to why they introduced the scheme, Shee Tse Koon, DBS Singapore’s country head, said they hoped the coverage would “help to further cushion affected patients’ healthcare expenses during a difficult period”.

Moreover, in May, the bank announced it would be hiring over 2,000 people in Singapore this year in a bid to protect jobs amidst the pandemic.

Now you know why they’re the best in the business.