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Upholding a common set of values
GOOD leadership is one of the key factors contributing to DBS Bank's achieving overall business excellence.
DBS is a people-driven business and believes in building its own culture in order to stand tall as a leading financial services group in Asia. Headquartered and listed in Singapore, the bank is a market leader in the city with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, South-east Asia and South Asia.
"We know the principles we stand for and this will drive a common set of behaviours based on the values we uphold," says Sim S. Lim, Singapore country head, DBS Bank. Notably, with over 280 branches across 18 markets in Asia, DBS is the largest bank in Singapore and South-east Asia.
He says: "First of all, we have good leadership. Our chief executive officer (Piyush Gupta) has great vision and he has the support of the board of directors to pursue it. We have a clear vision of what we want to achieve and the value this will bring to our customers.
"Secondly, Piyush has outlined strategic priorities that all employees in the bank can collectively strive to achieve, such as embracing a digital strategy and embedding ourselves in the customer journey. . . We know the principles we stand for and this will drive a common set of behaviours based on the values we uphold. Hence, the third factor that has contributed to our success would be getting our employees to embrace and live our corporate PRIDE! values." (sidebar)
Mr Lim says: "We differentiate ourselves from the global banks by banking the Asian way. As a bank born and bred in Asia, we're able to marry the professionalism of a best-in-class bank with an understanding of Asia's cultural nuances and the intricacies of doing business in the region. . . We strive to build lasting relationships with our customers as we view such relationships holistically, recognising that every relationship has swings and roundabouts."
Crucially, at DBS, digital technology is embraced at every stage of the customer journey. He adds: "Our goal is to seamlessly integrate banking into our customers' everyday lives, so that banking becomes simpler and they have more time to spend on people and the things they care about."
Pride in their work
DBS Bank's corporate values are represented with the word PRIDE, which stands for:
- Purpose-driven - creating impact beyond banking;
- Relationship-led - building long-lasting relationships and teams;
- Innovative - embracing change to add value;
- Decisive - our people have the freedom to think, act and own;
- E! - Everything Fun! We believe in having fun and celebrating successes together.