ENP Newswire - 06 February 2014 Release date- 05022014 - Brand value rises 15% over the year to USD 4.01 billion . DBS Bank has been ranked as Singapore's most valuable banking brand and as the top banking brand in ASEAN. The bank is also one of the top 10 banking brands in Asia . In The Banker /BrandFinance Banking 500 study released today, it was also revealed that DBS' exceptional growth in brand value allowed the bank to maintain its leading position in Singapore and ASEAN while improving its global ranking by four places from 58th to 54th place. Said Samir Dixit , Managing Director of BrandFinance Asia Pacific, 'DBS leads the pack for another year with a brand value of USD 4.01 billion . This is up 15.3% on 2013, an increase of over half a billion dollars. This puts DBS just outside the global top 50, but with such impressive growth it is likely to break into the prestigious top 50 group next year. DBS is in a strong position to be in the top 50 banking brands globally and challenge some of the Australian banks'. He added, 'As earnings remain threatened in the ASEAN region including Singapore, the strength of bank brands will be tested significantly in 2014. Also, constant downgrades to GDP estimates coupled with the slowdown in mortgages will likely create some business downside in the next few quarters. This is where a strong brand will play a significant role to help retain customers, reduce churn, build customer confidence and improve profitability.' BrandFinance noted that even with just three banks on the global 500 rankings, banks from Singapore represented the greatest total brand value of any ASEAN country, with a combined brand value of USD 8.5 billion , an increase of 17% on last year's total of USD 7.3 billion . DBS contributed to almost half of the 2014 value. Said Karen Ngui , Head of Group Strategic Marketing & Communications at DBS Bank , 'DBS is honoured to be recognised as the most valuable bank brand in Singapore yet again. It is heartening to note that our brand value now exceeds USD 4 billion and that we are also the most valuable bank brand in ASEAN. We remain committed to shaping the future of banking and redefining the customer experience, as we execute on strategy and make significant strides in Singapore and across the region. ' The Banker/BrandFinance Banking 500 is an annual study conducted by BrandFinance, the world's leading brand valuation consultancy, and published in 'The Banker' magazine. In the study, the world's biggest banks are ranked by their brand value, with the results reflecting industry trends and indicating future developments. About DBS DBS - Living, Breathing Asia DBS is a leading financial services group in Asia , with over 250 branches across 16 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China , Southeast Asia and South Asia . The bank's capital position, as well as 'AA-' and 'Aa1' credit ratings, is among the highest in Asia-Pacific . DBS has been recognised as ' Asia's Best Bank' by The Banker, a member of the Financial Times group, and 'Best Managed Bank in Asia-Pacific ' by The Asian Banker. The bank has also been named 'Safest Bank in Asia ' by Global Finance for five consecutive years from 2009 to 2013. DBS provides a full range of services in consumer, SME and corporate banking activities across Asia . As a bank born and bred in Asia , DBS understands the intricacies of doing business in the region's most dynamic markets. These market insights and regional connectivity have helped to drive the bank's growth as it sets out to be the Asian bank of choice. DBS is also committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 19,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com .
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Quiznos Files for Chapter 11