DBS named best Asia-Pacific bank

DBS Bank is the best bank in the Asia-Pacific region, according to Global Finance magazine's World's Best Banks 2014 Awards. The annual listing includes the best bank worldwide for corporate, consumer and private banking, emerging markets, frontier markets, Islamic finance, asset management, global custody, investment banking, cash management, trade finance, foreign exchange, sub-custody and supply chain finance.

New York-headquartered Citi clinched the global awards for best corporate bank, emerging markets, cash management, trade finance and subcustody. Boston-based Santander was the global winner for consumer bank, Canada's RBC Wealth Management for best private bank, Kuwait Finance House for best Islamic financial institution, and Bank of America Merrill Lynch for best investment bank.

Winners were selected based on their performance over the past year and other subjective criteria including reputation and management excellence. Global Finance made the selections after extensive consultations with bankers, corporate financial executives and analysts throughout the world.