SINGAPORE: DBS Bank is the most valuable brand in the annual Top 100 Singapore Brands ranking for a second year running. DBS grew its brand value by US$535 million to US$4.01 billion (S$5.0 billion) over the last year, said London-based consultancy, Brand Finance.
It helped the bank extend its lead over the Singapore Airlines (SIA) brand by US$761 million. DBS contributed more than 30 per cent of the total brand value increase of US$1.71 billion across the top 100 Singapore brands.
The bank has managed to nearly double its brand value in three years, from US$2.04 billion to US$4.01 billion and its brand value today is almost double that of other bank brands in Singapore.
"The fact that DBS has generated a significant lead over SIA in a very short period of time clearly communicates the importance and significance of a strong brand for DBS. It will likely stay at the No. 1 position for a few years unless there is a game-changing strategy amongst the other top five brands," said Mr Samir Dixit, Managing Director of Brand Finance Asia Pacific.
- CNA/kk
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SINGAPORE: Singapore private banks have enjoyed steady growth in their assets under management (AUM) over the last four years, despite rising competition from global firms.
ReplyDeleteTwo key players - DBS Private Bank and Bank of Singapore - have both outperformed the industry AUM growth rate in recent years, and look poised to capture a greater share of the pie in China and Southeast Asia.
A recent report by PwC estimated that AUM in the Asia-Pacific region will more than double, between 2012 and 2020, to hit more than US$16 trillion.
Meanwhile, DBS Bank's acquisition of Societe Generale's Asian private banking business will fuel its ambition to be a top private bank in the region.
The S$278-million deal could be completed by October.
Ms Tan said: "I hope with the deal it gives me more capacity both in terms of people, platform and product to grow quicker, to do more and to really create stickiness with our clients, and widen our client network. I hope that will enable us to become part of the big five soon."
According to industry data, DBS was three places off the top five in 2012. The top five private banks in Asia (except Japan) were UBS, Citi, HSBC, Credit Suisse and JP Morgan.
- CNA/xq