Do you know the DBS Full Form? Development Bank of Singapore, popularly known as DBS Bank, is a leading financial services provider known for its innovative solutions and commitment to customer satisfaction. DBS offers a wide range of financial products and services, including personal banking, business banking, investment banking, and wealth management.
DBS Bank, based in Marina Bay, Singapore, is a multinational banking and financial services corporation with a history dating back to 1968. Originally established as The Development Bank of Singapore Limited, the organization rebranded as its current name in 2003 to reflect its status. A leading bank. Today, DBS Bank has branches spread across Singapore and making it the largest bank in Southeast Asia and the largest Asian bank by capital, with liquid assets of $518 billion as of 31 December 2017.
DBS also offers a variety of online and mobile banking services, allowing customers to manage their accounts and conduct transactions on the go. With a network of over 300 branches and 1,250 ATMs in 18 markets, DBS serves approximately 12 million customers in Singapore and the surrounding region. The bank’s retail banking services include savings and checking accounts, credit cards, loans and insurance products.
The History of DBS
DBS has a rich history that dates back to the early 1960s. The concept was initially proposed in a report by the United Nations Industry Survey Mission, led by Dutch economist Albert Winsemius. The mission, which visited Singapore twice in 1960 and 1961, is credited with developing the idea of creating a business entity to oversee the nation’s industrialization efforts. This organization would manage industrial derivatives, provide financing for businesses, and attract international investment.
In April 1968, the Singaporean government announced plans to launch a development bank with public equity participation. The Economic Development Board (EDB) was established on August 1st, 1961, and the DBS was officially established and launched in July and September of 1968, respectively. The first president and chairman of the DBS was Hon Sui Sen, who had previously served as the EDB’s chairman until December 1968.
Throughout the years, DBS has engaged in a significant amount of acquisition and development work. In December 1971, it became the first company in Singapore to issue Asian dollar bonds. The bank opened its first location in Jurong, Singapore, and in the same year, established a branch in Tokyo, Japan to expand into the international market. In 2017, the bank had around 24,174 total employees, according to estimates. Today, DBS offers a wide range of services, including private banking, credit cards, retail banking, corporate finance, wealth management, investment banking, mortgage loans, and insurance.
How Many Banks are Acquisition in DBS?
DBS Bank has made several acquisitions over the years, but the exact number of banks that it has acquired may vary depending on the source and the criteria used to define an acquisition. Some notable acquisitions that DBS has made include:
- The POSB (Post Office Savings Bank), was established in 1877 and is one of the oldest banks in Singapore. It merged with DBS in 1998.
- The acquisition of Dao Heng Bank in 2001, made DBS the largest bank in Southeast Asia by assets.
- The Overseas Union Bank (OUB), was established in 1947 and was one of Singapore’s largest local banks before its merger with DBS in 2001.
- The PT Bank Danamon Indonesia Tbk was acquired by DBS in 2012.
- The ANZ’s wealth business in the five markets of Hong Kong, Singapore, China, Taiwan, and Indonesia, DBS Bank acquired in 2016.
- DBS Bank also acquired the Asian private banking business of Societe Generale in 2014.
- Apart from this, DBS Bank (India) acquired stakes in Lakshmi Vilas Bank (LVB).
DBS Bank Global Operations and Shareholder Information
The Development Bank of Singapore (DBS Full Form) has a wide presence globally with branches and offices in various countries including Hong Kong, China, Australia, Philippines, the United States, Indonesia, Vietnam, Japan, South Korea, India, Myanmar, Thailand, United Arab Emirates, Taiwan, and the United Kingdom.
The Development Bank of Singapore (DBS bank full form) has several significant shareholders, with Citibank Nominees Singapore Pte Ltd being the largest, owning nearly 20% of the bank’s total stakes. Maju Holdings, Pte Ltd holds 18% of the shares, while DBS Nominees Pte Ltd holds 17%. Temasek Holdings Private Limited, a company wholly owned by the Ministry of Finance of Singapore, holds 11% of DBS shares.
DBS’s presence in India with branch openings and bank mergers
The DBS has increased its presence in India by opening 12 branches in important cities like Mumbai, Chennai, Hyderabad, and Pune. The cricketer Sachin Tendulkar has been appointed the bank’s brand ambassador in India. Under the direction of the Reserve Bank of India, DBS and Laxmi Vilas Bank merged in November 2020, marking the first occasion a foreign bank was permitted to help a struggling Indian bank. In order to acquire a 51% stake in Laxmi Vilas Bank, the Indian subsidiary of DBS hoped to invest $335 million as part of the merger. DBS has partnered with Tata AIA Life, Birla Sun Life, and Aviva India Life to increase its business opportunities in India.
How Many Awards have been Received by DBS Bank?
The DBS bank has achieved the following achievements-
- The Global Brands Magazine presented a prize in Taiwan for the best customer service.
- Global bank of the year, by the Banker.
- Global Finance of New York named it the greatest bank in the world.
- Awarded the Best SME Banking Brand in Taiwan by Global Brand Magazine.
- Asia’s Best Bank For SMEs 2022.
Other DBS Full Forms List
Read all DBS Full Forms here-
| Term | Full Form | Category |
| DBS | Development Bank of Singapore | Banking |
| DBS | Dubois (id) | Airport Code |
| DBS | Department of Banking Supervision | Banking |
| DBS | Direct Broadcast Satellite | Computer and Networking |
| DBS | Dynamic Bass System | Electronics |
| DBS | Printer Description File (ms Word – Works) | File Type |
| DBS | Datafile (managing Your Money – Prodas – SQL Windows) | File Type |
| DBS | DOBBSPET | Indian Railway Station |
| DBS | Drunken Brainless Scum | Messaging |
| DBS | Double-blind Study | Maths |
| DBS | Division Battle Simulation | Military and Defence |
| DBS | Da Bomb Squad | Military and Defence |
| DBS | Direct Broadcast System | Military and Defence |
| DBS | Default Battle System | Military and Defence |
| DBS | Digitize Battle Skills | Military and Defence |
| DBS | Distributed Base Station | Networking |
| DBS | Data Base System | Space Science |
| DBS | Digital Broadcast Satellite | Space Science |
| DBS | Data Base Specification | Space Science |
FAQs – What is the DBS Full Form?
What is the DBS Bank Full Form?
The DBS Bank Full Form is the Development Bank of Singapore.
Who is the first president of DBS Bank?
Hon Sui Sen was the first Chairman and President of DBS.
When was the DBS bank established?
DBS Bank was established on 16 July 1968.
DBS acquired the shares of which bank in India?
DBS acquire a 51% stake in Laxmi Vilas Bank in India.
Who is the brand ambassador of DBS in India?
Sachin Tendulkar (Indian Cricketer) is the Brand Ambassador of DBS Bank India.
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