Banking with a sense of purpose
Despite being the region's leading bank, DBS is committed to the social role it was set up to play almost 50 years ago
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FROM using a squirrel mascot to encourage saving to financing iconic structures such as Raffles City, DBS and POSB have played a key role in Singapore's transformation into a sophisticated metropolis. Indeed, the former Development Bank of Singapore was established in 1968 by the Singapore government with the mission of supporting the economic growth of the then-fledgling city-state.
With that goal in mind, it helped accelerate Singapore's industrialisation efforts in the decades following independence by funding businesses and supporting the growth of new industries.
"The developmental nature of the DBS franchise has been paramount. We have financed many SMEs, and been involved in large transactions that supported the corporate sector in the 1970s and 1980s," says Piyush Gupta, DBS Bank CEO.
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