Despite severe setbacks experienced by the financial sector during the COVID-19 pandemic, DBS Bank Taiwan (星展台灣) has overcome the odds and provided innovative services for standard-setting cases, and for the first time won a nomination for the Best International Bank award by the Asiamoney magazine, after it was included on Forbes magazine’s World’s Best Banks list.
Since establishing a presence in Taiwan in 1983, the bank has been gradually growing its scale and range of services through capital investment and buyouts, and has over the past few years dedicated efforts toward providing innovative digital services, DBS Taiwan general manager Lim Him-chuan (林鑫川) said.
DBS Taiwan is honored that its efforts have merited notice from the panel of judges at Asiamoney, Lim said, adding that it would continue to foster innovative finances and local talent, and support a sustainable development model.
Asiamoney said that DBS Taiwan utilizes its advantage of no time difference with DBS’ global headquarters in Singapore to provide adept financial services for its clients.
Ahead of its competitors in the region, DBS Taiwan provides its customers with a financial application programming interface and faster financing via blockchain technology. DBS Taiwan has also observed the needs of its clients and created a mobile banking service, Digibank.
Last year, DBS Taiwan was part of 11 syndicated loan cases to assist GlobalWafers Co (環球晶圓) with the buyout of Siltronic AG for 4.2 billion euros (US$5 billion at the current exchange rate), the largest buyout recorded to date in the Taiwanese technology industry, a demonstration of DBS Taiwan’s commitment to the domestic market and living up to its promises.
Asiamoney commended DBS Taiwan for its efforts in 2018 to expand and fine-tune the performance of Australia and New Zealand Banking Group Ltd’s wealth management and retail banking business in five regional markets — Taiwan, Singapore, Hong Kong, China and Indonesia.
Such efforts have helped make Taiwan’s wealth management sector the third-largest in the region, after Singapore and Hong Kong, Asiamoney said.
DBS Taiwan’s involvement in financing solar and off-shore wind energy has also won it four prizes in The Asset magazine’s Infrastructure Awards, including in the public-private partnership of the year, the battery storage deal of the year and the project house finance of the year categories.
In addition, DBS Taiwan has also been listed as one of the world’s best banks by Forbes magazine, a list created by the publication, and German market and consumer data company Statista.
Of the 10 Taiwanese banks on the list, DBS Taiwan is the only wholly international bank, a sign of the high praise that Taiwanese consumers pay toward DBS Taiwan.
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