DBS Bank

Yesterday, Tan Su Shan officially took over the baton from Piyush Gupta as CEO of DBS at our Annual General Meeting. Speaking to over 1,500 shareholders present, Su Shan laid out her priorities for the road ahead. 1) Continue to be a transformative organisation, while managing risks and ensuring resiliency 2) Drive high-ROE businesses 3) Unlock growth through deeper connectivity across markets and segments 4) Tackle key societal issues including ageing, inequality, climate change and trust “The biggest way for us to honour his (Piyush's) legacy is to continue on this culture of transformation, this culture of purpose, this culture of client centricity and connectivity," said Su Shan. Her remarks were echoed in a statement by Temasek’s Executive Director and CEO, Dilhan Pillay, which was read out at the AGM: “It is commonly thought that a listed company should either be a dividend yield company or a growth company, but during this period DBS has proven that you can be both. We know that DBS continues to be in the good hands of Chairman Peter Seah and Tan Su Shan. We are confident that they will continue to drive DBS’ relentless focus on excellence for value to all its stakeholders.”

We are honoured to receive the Wellbeing Innovation Award and be recognised as one of the Top 25 Impact Employers in Singapore at the WorkWell Leaders Awards 2025! This win reaffirms our commitment to prioritising the wellbeing and mental health of our employees, so our people can live fulfilling lives in and out of the office. We received the Wellbeing Innovation Award for iHealth Wallet – a holistic wellbeing platform that provides personalised health insights, nudging employees toward healthier habits, and providing actionable tips to help them take charge of their health. More than just a career, it is the way we live that shapes our DBS culture: https://go.dbs.com/3GvJF49 #LiveFulfilled #LifeAtDBS

This #ThrowbackThursday, we’re revisiting a quiet but meaningful moment from our archives — a story that speaks to the resilience and teamwork that continue to shape who we are. In 1985, a group of DBS colleagues set out to climb Mount Kinabalu. At 4,095m, it’s Southeast Asia’s highest peak — a steep, demanding trail with freezing winds and no modern hiking gear. Just ponchos, persistence, and a shared goal. They weren’t trained climbers. They came from different departments across the bank. But they supported one another, stayed steady through discomfort, and took each step together. Their journey began at 1,500m, winding through thick cloud forest. By late afternoon, they reached Panar Laban at 3,350m. Too cold to sleep, they huddled in mountain huts, waiting for the final push. At 3am, they set off in darkness and biting wind. They climbed past twisted rock formations with names like Donkey’s Ears and Ugly Sisters, gripping ropes along the bare granite. By 7.15am, they reached Low’s Peak — just as the first light broke across the horizon. One climber, James Ng, later wrote in a DBS newsletter, “The pain on our well-cladded bodies was like that felt by runners hitting the wall. The view was awesome and magnificent. The Singapore flag and DBS banner fluttered in the wind. We had achieved our goal.” #LifeAtDBS #DBShistory #SG60

What does it take to make a workplace truly joyful? For Jia Yi, it’s not just design – it’s behavioural science. As a workplace experience designer at DBS, she observes how we move, interact, and transition through our day, then transforms that into spaces that spark connection, creativity, and joy. Discover how her people-first approach is reimagining office spaces where employees can thrive and in turn, deliver even greater outcomes for our customers. #LifeAtDBS #FutureOfWork

“Twenty names on screen. No cameras on except mine and my co-manager’s. That was my first meeting with the team I was about to co-lead two years ago – and my first leadership role at DBS. I smiled, asked how everyone was doing. Silence. I introduced myself, reassured them my door was open, and wrapped up the call. As I exited the call, I couldn’t help but wonder if I’d made the right move. After all, this was the boldest leap of my career – leaving behind the contact centre where I’d spent nearly a decade talking directly to customers, to co-managing a team of 20 who processed account opening applications. But I’d always dreamt of stepping into leadership. And when the opportunity came, DBS gave me room to grow into it. I was given access to multiple leadership courses, and a few months of on-the-job training to observe, ask questions and get to know the team and the work. I was also assigned a mentor – my line manager – who I still look up to today. He’s everything I envisioned a leader to be: calm, concise, clear-headed and fair. I still learn from him every day. Shortly after that first team call, the pings started. One by one, messages trickled in – comments, frustrations, even a few quiet thank-yous. That’s when it hit me: they weren’t cold or disengaged. They just didn’t know me yet. So I got to work. I studied the details of every process, asked questions, and spent time learning how each person operated – what they liked, what got on their nerves, and what they needed to do their best work. I knew I couldn’t force camaraderie, so I began to overcommunicate – anything I planned or even had in mind, I’d share openly. In our weekly huddles, I’d tackle the difficult questions head on, speaking first so no one had to feel exposed. What I really wanted was to build a culture of psychological safety – where people felt seen, heard and supported enough to be themselves. Two years on, our huddles look very different. Cameras are on, and conversations are flowing. We don’t always agree, but we listen. We grow, and we back each other up. What have I learnt? Leadership isn’t just about being in charge. It’s about being someone others can rely on. Someone they are proud of.” - Haikal Hamzah, Consumer Banking Operations #HumansofDBS

As global trade tensions evolve, what scenarios should leaders be preparing for? “What we're going through right now is very dark and grim,” said DBS Chief Economist Taimur Baig, acknowledging that the current moment feels heavy. However, he added that “this is not the permanent state of affairs”. In fact, a silver lining may lie in how the rest of the world responds. As the US rethinks its role in shaping global trade norms, other regions, including Asia, have the opportunity to step up, collaborate, and define new rules of trade and commerce. “It’s a big world. You can prosper in that,” said Taimur. Taimur was speaking at a 17 April dialogue we organised for DBS clients, where DBS CEO Tan Su Shan and Deputy Prime Minister Gan Kim Yong also shared their perspectives on the shifting global trade landscape. In his address, Taimur broke down four possible outcomes — from fragmentation to fragile resets — offering a strategic lens through which to understand what’s at stake. Learn more about what he said in the infographic below.

We recently had the privilege of hosting an insightful DBS Leadership Perspectives session with Dr. David Rock, co-founder and CEO of the NeuroLeadership Institute. Together with Him Chuan LIM, Singapore Country Head, and Joanne Hor, our Chief Learning Officer, who moderated the discussion, we explored how embracing a growth mindset can ignite impactful transformation in leadership and culture. Growth mindset is the belief that skills can be improved over time rather than being something we’re born “good” or “bad” at. It's about shifting our thinking from “I can’t do this” to “I can’t do this… yet.” At DBS, we’re committed to nurturing a culture where challenges are seen as opportunities, setbacks spark learning, and growth is a continuous journey. Because when we cultivate a growth mindset, we don’t just develop skills — we build long-term careers, strengthen confidence, and empower one another to live fulfilled, both at work and beyond. #LifeatDBS #LiveFulfilled

As geopolitical tensions rise and the US-China trade war evolves, global trade, as we know it, is being reshaped. In a 17 April dialogue organised by DBS for our clients, DBS Chief Economist Taimur Baig offered a sharp and unflinching view of what’s at stake and what might lie ahead. From the historic patterns of economic inwardness to the fragmentation of global trade rules, Taimur laid out the possible paths the world could take: 1. TOTUS: Trade Outside the US (TOTUS) becomes an operating model. Under this, one manufactures in the US to sell in the US. Separate rules and agreements for the rest of the world. 2. Geoeconomic escalation: Tariff and nontariff measures intensify. Secondary tariffs are imposed on selected countries. Dollar usage is weaponised further. 3. Worst case scenario: China sees adversarial actions by the US as existential and the risk of kinetic war rises. 4. A grand bargain: China and US find ways to operate in a separate but equal co-existence. Watch his full address for a deeper dive into each scenario and how the global trade landscape may evolve.

Meet Syaza Abidin and Suan Heok – a multigenerational team at DBS Group Operations who rally colleagues to befriend lower-income seniors at risk of social isolation. Through monthly volunteering, they’re showing that age is no barrier when purpose drives people to build lasting bonds – both at work and in the community. *** Every month, a bus pulls up outside a Lions Befrienders Active Ageing Centre. Seniors climb aboard, some with walking sticks, others supported by volunteers – excited for what feels like a day trip. In truth, it’s a “grocery excursion” led by Syaza Abidin, a People Engagement Specialist at DBS. “They love it – it gives them the feeling they’re going out for a treat,” she says. These fully sponsored outings pair DBS People of Purpose volunteers with seniors – many of whom live alone in Singapore’s rental flats and are at risk of isolation. The mission? Help them shop for up to SGD 50 in groceries while sharing simple tips on nutrition and scam prevention. “I always tell volunteers, treat them like your own grandparents,” says Syaza. “Some only eat plain rice daily. A balanced meal can mean everything.” Over the years, she’s mastered the art of gentle persuasion. “This coffee’s popular among seniors here,” she’ll say brightly, pointing to a lower-sugar option. Or, “Try the brown rice – we’ve got people to carry it home for you.” Her upbeat, heartfelt nudges often win them over. At a recent outing, Syaza and a colleague were paired with 67-year-old Uncle Francis. He began with a pack of toilet rolls, then loaded his cart with yoghurt cups. “My wife loves yoghurt,” he said, reaching for flavours at the back of the chiller. “We have it every day – it’s good with digestion!” he grinned. The initiative is part of DBS’ commitment to help seniors age with purpose, dignity and joy. Syaza rallies colleagues to volunteer together on weekends, driving greater cross-team collaboration while supporting the community. Backing her is Tan Suan Heok, her manager and the programme’s founder. Suan Heok, who has been in DBS for 36 years, set up this initiative in 2014, creating long-term community partnerships such as with Lions Befrienders, and a network of “People Champions” to drive volunteering across departments. Despite a two-decade age gap, the duo are united by shared values and a deep belief in giving back. Syaza, supported by scholarships growing up, sees this as her way of paying it forward. Suan Heok recounts being raised by a mother who always shared food with neighbours despite having little. In 2024, the pair were recognised at the DBS People of Purpose Awards for contributing some of the highest volunteering hours in DBS Singapore. Syaza was lauded for rallying colleagues to clock over 5,000 hours – all with a shared goal: helping seniors live healthier, more connected lives. More on our commitment to tackle the challenges of ageing societies: https://go.dbs.com/3Rx17Yh #LifeatDBS #DBSPeopleofPurpose

"No matter the crisis, it always comes back to the fundamentals of business leadership." – Ze Ling Chen, DBS Group Head of Corporate and SME Banking As global uncertainty grows, business resilience requires transformation – and steady, pragmatic leadership. At a recent closed-door panel on the impact of US tariffs to businesses, Ze Ling outlined two critical dimensions: managing near-term risks and tracking long-term trade shifts. In the near-term, market risks remain a key pressure point – driven by volatility in foreign exchange, commodity prices and interest rates. These fluctuations can quickly erode margins and disrupt day-to-day operations. Liquidity is another key concern, especially amid supply chain disruptions. His advice: engage your bank early and they can help you with your business needs, like extending trade terms or expanding working capital lines. At the same time, businesses must take a long view on shifting trade flows. Intra-Asia and Intra-ASEAN trade is deepening, and new corridors are emerging like the Middle East. Coupled with government support, the key to long-term staying power lies in a business's ability to navigate uncertainty, manage risk, and remain anchored to sound fundamentals. The panel, “US Tariffs: Make Sense, Take Action, Plan Ahead,” was organised by the Singapore Business Federation’s Centre for the Future of Trade and Investment, with support from Enterprise Singapore. It brought together over 400 business leaders and featured a fireside chat with Minister for Transport and Second Minister for Finance, Mr Chee Hong Tat, followed by a robust panel discussion. #macroeconomics #geopolitics