DBS Bank

We announced today that the Board had appointed Tan Su Shan as Deputy CEO, in addition to her present role as Group Head of Institutional Banking. She will succeed Piyush Gupta as CEO when he retires at the next AGM on 28 Mar 2025. Su Shan, 56, brings solid credentials to her new role, having had more than 35 years of experience in consumer banking, wealth management and institutional banking. Besides Singapore, she has worked in major financial centres such as Hong Kong, Tokyo and London. Su Shan joined DBS in 2010 and spent the first three years building the foundations of the Wealth Management business. She subsequently spent almost equal lengths of time managing the Consumer Banking / Wealth Management and the Institutional Banking businesses, which account for 90% of DBS’ income. Su Shan led the day-to-day efforts to operationalise the bank’s digitalisation strategy across the businesses she ran. She has been President Commissioner of DBS Indonesia since 2014. Her appointment is the culmination of a decade-long succession process where we benchmarked external candidates against a strong field of internal candidates. Following the evaluation, Su Shan was deemed the strongest of all the candidates. Said DBS Chairman Peter Seah, “Under Piyush’s leadership, DBS has been transformed into a high-performing, high-returns institution recognised simutaneously for stability and innovation. Su Shan’s strategic orientation, track record in building businesses, familiarity with technology, leadership ability as well as strong stakeholder management and communication skills make her the ideal successor. Importantly for us, she also embodies the DBS culture. I am pleased that a Singaporean with global experience has emerged as the best candidate to lead an iconic Singapore institution and build on the legacy that Piyush will leave us.” Said Piyush, “Su Shan has worked closely with me for more than a decade to bring the bank to where it is today. She was instrumental in building the Wealth Management, Consumer Banking and Institutional Banking businesses since she joined, and took personal ownership to operationalise our digitalisation strategy. With her appointment, we can be assured that the trajectory of DBS’ transformation will continue well into the future.” Said Su Shan, “I am deeply honoured to have been selected to succeed Piyush. Leading the continued transformation of DBS is a tremendous privilege and responsibility. Some months after Piyush joined as CEO, he called to persuade me to join DBS. I responded to that call and quit the foreign bank I was working at the next day. Joining DBS felt like a homecoming – it is the bank I grew up with, and also the company where I first interned. The last 14 years have been a tremendous ride. I am proud of the founding mission of DBS – financing Singapore’s growth – and will continue to ensure that it is a brand that stands tall not just in Asia but also the world stage.”

The annual meetings of the IMF and World Bank held last week were characterised by relief over global economic resiliency, juxtaposed by heightened concerns about a variety of risks. Global real GDP is expected to remain stable between 2024 and 2025 while concerns about inflation have receded, though it may be too early to declare victory. DBS Group Research expects the resilience of emerging markets to be tested by the outcome of the US elections. Meanwhile, the intersection of AI and capital markets is generating interest from regulators. What is our economist's take on the issues brought forward at the meeting? Find out at https://go.dbs.com/4foLBYp Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/3AiZl87 #investing #economy #economics #asiapacific #emergingmarkets #stockmarket #growth #future #technology #artificialintelligence

What’s one thing young employees can do to actively grow their career? “When you’re a rookie, spend time to cultivate mentors. Find sponsors who can support you in your career moves.” – Tan Su Shan, DBS’ Deputy CEO and Group Head of Institutional Banking According to Su Shan, it’s always good to seek out those who can help you work towards your career goals. And counter-intuitive as it may seem, she advises against asking your direct supervisor to be your mentor. “It is a conflict of interest,” said Su Shan. “Ask people from within the organisation, but other parts of the organisation. They are very independent of your career and can give you objective advice.” Su Shan also brings up other useful tips for anyone navigating the corporate world, such as insisting on regular check-ins with your boss, and finding ways to have more diverse streams of feedback from those more senior than you. On a personal level, Su Shan enjoys seeking out "reverse mentors", who are people possibly younger and/ or more junior than her, but have new perspectives and insights to share. Su Shan was speaking at a fireside chat organised by the Financial Women’s Association Singapore.

DBS Group Research believes market scepticism over AI device penetration, due to niche applications and uncertain specifications, should dissipate with Apple's upcoming in-house AI suite. Meanwhile, Android competitors like Xiaomi, with the XM15’s next-gen Snapdragon AI SoC and Google’s AI suite Gemini, are also poised to drive AI adoption forward. PCs powered by Intel’s first AI-optimised CPU are also expected to establish a new standard for AI PCs, unleashing pent-up demand. AI PC adoption, especially in the commercial segment, is expected to accelerate in 2025. With PC and smartphone shipments set to increase next year, find out which leading hardware vendors are well positioned to benefit: https://go.dbs.com/4hf0X3b Follow DBS Insights Direct on Telegram for daily investment ideas! https://go.dbs.com/40gehhN #investing #technology #future #ai #artificialintelligence #innovation

We are pleased to share that DBS has been named Safest Bank in Asia by Global Finance for the 16th year running! The bank has also maintained 2nd position in the World’s 50 Safest Commercial Banks list and the World’s 50 Safest Banks list for the 3rd consecutive year. We are incredibly humbled and grateful with these recognitions, which are testament to DBS' commitment to safeguard our customers' trust and financial well-being with the highest standards of security and reliability. Said Chng Sok Hui, Chief Financial Officer of DBS Bank, “It is an honour to be recognised by Global Finance as Safest Bank in Asia yet again. In a world marked by increasing geopolitical and economic uncertainties, DBS’ strength as a trusted banking partner continues to set us apart. With our resilient franchise – underpinned by a strong balance sheet, robust controls and sound risk management practices – we support our customers through market cycles, and give them peace of mind when they bank with us.” Thank you to everyone at DBS who helped make this possible, and to our customers and partners for your continued trust and support.

“DBS has been a place of continuous learning and growth for me. The bank values data-driven decision-making, and stays ahead of the curve by leveraging the latest emerging tech such as Generative AI, which aligns with my skillset and interests. I joined DBS through the Management Associate (MA) Programme in 2014 and from day one, I had the privilege of tackling real-world challenges and working alongside talented individuals from diverse backgrounds. This experience not only accelerated my career but also helped me build a valuable network. With structured learning, mentorship, and training in big data analysis and visualisation, I gained the skills and confidence to drive meaningful contributions. After starting in the Consumer Banking Group’s Payments and Platforms team, I had the chance to enhance employee experiences in Human Resources by developing a predictive model for attrition. It is the supportive and collaborative environment at DBS, as well as its commitment to employee well-being and development, that have encouraged me to build my career here, for the long term. I'm excited to see what the future holds at DBS and continue contributing to the organisation's success through leading data-driven initiatives.” - Wilson Hong, Data Scientist and 2014 Singapore Programme Alumni Accelerate your career with the DBS Management Associate Programme: https://go.dbs.com/3zXsi9s

Last Sunday, we celebrated some encouraging early outcomes of the POSB Support Our Heartland initiative, which offers over two million cashback rewards and discounts for purchases at more than 22,000 heartland shops, wet markets, hawker stalls, as well as at Sheng Siong supermarkets. The initiative is part of our commitment to supporting the needs of our local communities and helping heartland businesses thrive and grow. Since its launch in August 2024, heartland businesses have reported a 40% boost in weekend earnings, with wet market stallholders seeing a three-fold increase in customer numbers and twice the number of total customer spend through PayLah! transactions. Of the one million cashback rewards and discounts redeemed, 39% went to senior citizens and/ or those earning under SGD 2,500. "We’re very encouraged by the early results of the Support Our Heartlands initiative. Many customers – including seniors and low-income individuals – have benefitted, while heartland merchants and wet markets have also seen a boost to their businesses," said Kwee Juan Han, DBS Singapore Country Head. “POSB Support Our Heartlands offers more than cashback rewards — it’s about rallying support for heartland businesses and fostering a stronger sense of community. We remain committed to finding more ways to enhance the vibrancy of our neighbourhoods.” At the same time, we’re also encouraging more heartland merchants to adopt digital payments by piloting a door-to-door merchant outreach programme in selected neighbourhoods. Over the past month, three sessions were held, with around 50 volunteers from the bank reaching out to engage more than 100 merchants on digital literacy topics. We plan to reach out to more neighbourhoods next year, to help more small businesses thrive in an increasingly digital economy. Learn more about the POSB Support Our Heartlands initiative: https://go.dbs.com/48blGRu

【Maggie-pedia – Episode 3 of “Leadership Unplugged – The Frontline Experience”】 18 QRC DBS Treasures Centre is no new place to Managing Director and Treasures & Distribution Head, Consumer Banking Group and Wealth Management of #DBSHongKong, Maggie Yung, but serving customers directly was a brand-new experience far outside her daily rituals. Like an actress thrust onto the stage with no script, watch Maggie takes on a new role thinking fast outside her wheelhouse! Get up to date with earlier episodes here: - “Ajay Meets and Ajay Greets”: https://go.dbs.com/4dLCtMb - “Emily in Lending”: https://go.dbs.com/3U5oA4A #DBSHK #LivemoreBankless #LeadershipUnplugged #Empathy #ServewithHeartandEmpathy #ExceptionalCustomerService #CustomerExperience

We are honoured to have hosted over 1,000 esteemed clients at our inaugural DBS Treasures Wealth Symposium, titled Navigating Wealth, Building Blocks for Success, earlier this month. It was a dynamic gathering with Tse Koon Shee, DBS Group Head of Consumer Banking Group and Wealth Management, kicking things off by sharing how DBS is uniquely positioned to cater to the holistic wealth needs of high-net-worth individuals. Following his address, DBS Chief Investment Officer Wey Fook Hou delivered a keynote on the 4Q24 Market Outlook, highlighting opportunities from the Fed's rate cuts that could lead to a soft landing, which is constructive for risk assets. A dynamic panel discussion featuring industry titans followed, offering invaluable perspectives on today’s investment landscape and emerging trends. The symposium showcased nine dynamic breakout sessions, offering in depth discussions on a wide array of wealth topics, including portfolio diversification, alternative investments, legacy planning and property market. Attendees also had the opportunity to engage with our Wealth Discovery Booths, in collaboration with our leading partners, where they explored bespoke wealth solutions and expert insights. Thank you to all our partners and clients who joined us and contributed to the highly engaging sessions that sparked inspiration and offered fresh perspectives. This event reflects DBS Treasures’ continued commitment to engage, enrich and empower our clients as we strive to deliver distinctive and impactful experiences on their wealth management journeys. Gain further insights on the markets in our Chief Investment Office’s latest Q4 Market Outlook: In a Sweet Spot: https://lnkd.in/gwnn6S_5. #DBSTreasures #WealthSymposium #CIOInsights #WealthCreation #InvestmentStrategies #MarketOutlook

"We face a complex world with a myriad of challenges... But I sensed a great commitment to keep pushing forward on the global sustainability agenda throughout Climate Week NYC from major actors." - Helge Muenkel, CFA, Chief Sustainability Officer, DBS. Business leaders have a critical role in shaping a sustainable future. The stakes are massive – USD38 trillion in costs by 2050 if we don’t act – but the opportunities are even greater. Everyone talks about it, but UN Trade and Development (UNCTAD), Network for Greening the Financial System (NGFS), and McKinsey have laid out a roadmap with hard data that quantifies the socioeconomic impacts of climate action. At DBS, we’re supporting SMEs in decarbonising supply chains through initiatives like the Future Supplier Initiative (https://go.dbs.com/3A3srIv), to working alongside global partners on frameworks for circularity and transition finance. Swipe through the images for five key takeaways from Helge, who recently attended Climate Week NYC 2024. #ClimateWeekNYC #Sustainability #CircularEconomy