DBS Bank SWOT & PESTLE Analysis
COMPANY PROFILE -DBS Bank
Business Sector :Banking and Financial Services
Operating Geography :Asia, Singapore
About DBS Bank :
DBS is one of the largest financial services group in Asia and the biggest commercial banking group of Southeast Asia. Headquartered in Marina Bay, Singapore, it was established in 1968 and was earlier known as The Development Bank of Singapore. The Group offers a range of services that include Personal Banking, Wealth Management and Business Banking. DBS has an employee base of over 28000 and is present in 18 markets globally, including six priority markets in Asia as of early 2020. The Group is one of the leading adopters of digital technology globally and brands itself as the ‘The Digital Bank of Singapore’. It has also been placed upon the Dow Jones Sustainability Asia Pacific Index since 2018, making DBS the first Southeast Asian bank to receive the distinction.Its mission statement reads 'As we continue to expand, our goal is to embed a set of firm values into the organization so that we will develop a distinctive DBS performance culture with PRIDE!. We want our people in DBS to be known for their commitment, innovation and sense of empowerment.' with a vision of “Make Banking Joyful”.
DBS Bank Revenue :
SGD 14.54 billion – FY ended 31 December 2019 (y-o-y growth 10.3%)
SGD 13.18 billion – FY ended 31 December 2018
Competitive Analysis of DBS Bank
| 1. Leading banking player in Asia with diversified portfolio 2. Forefront in leveraging digital technology in financial services 3. Consistently delivering strong performance 4. Strong CSR Initiatives 5. Robust risk management and mitigation framework | 1. NPA for DBS Group in oil and gas exposures |
| 1. Expansion plans in India and Middle East 2. Forecasted increase of intra-regional trade 3. Opportunities in emerging markets such as India 4. Developing the Phy-gital Experience | 1. Large "platform" companies and emerging fintech startups to challenge established players 2. Increased competition 3. Trade war due to protectionism policies |
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Detailed SWOT Analysis of DBS Bank
Strength
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Weakness
1. NPA in oil and gas exposures: DBS bank has been plagued by major exposure to weak oil and gas services. The bank had a total of SGD 5.1 billion of exposure in the sector as of 2017 of which it has recognized SGD 3.0 billion as non-performing on a conservative basis. In 2017 bank took the step to accelerate the recognition of residual weak oil and gas support service exposures as non-performing to remove uncertainty regarding its asset quality. As of 2020, the oil prices have collapsed amidst the Covid-19 pandemic and OPEC-Russia fallout and this will further impact DBS’s residual exposure in the sector.
Opportunity
1. Expansion plans in India and Middle East: DBS rolled out its wholly-owned subsidiary DBS Bank India Ltd in March 2019. Spread across the next 1.5 years, DBS plans to launch 100+ customer touch-points in 25 cities as it has presence in India for over quarter of a century. DBS bank India has acquired around 2.5 million digital customers wherein more than half of them have engaged through a savings account with the bank. DBS will aim at collaborating with industry leaders such as BigBasket, the largest online grocery market in India and Paisabazaar, the biggest loans and cards marketplace in India; Plans to launch digi Insurance and digi Loans to make deeper inroads into India, are also on the cards. In November 2018, DBS declared its five-year expansion plan in the Middle East. The Company plans to make its Dubai office a strategic hub for the GCC clientele who want to have access to the wider Asian market. Over the last seven years, DBS Private Bank has accomplished a fiscal growth rate of 20% in total revenues and is aiming to triple its revenues over the next five years. The bank will focus on ultra-high net worth individuals, family offices, and sovereign wealth funds with whom DBS can offer bespoke investment products.
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Threat
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References used in DBS Bank Analysis Report
1. DBS Group Holdings Ltd Annual Report 2019 - https://www.dbs.com/iwov-resources/images/investors/annual-report/dbs-annual-report-2019.pdf?pid=sg-group-pweb-investors-pdf-2019-pursuing-the-greater-good
2. DBS Group Holdings Ltd Annual Report 2018 - 2019https://www.dbs.com/annualreports/2018/downloads/dbs-annual-report-2018.pdf
3. Singapore's DBS 'cleans' its oil and gas loan book: https://asia.nikkei.com/Business/Singapore-s-DBS-cleans-its-oil-and-gas-loan-book
4. DBS Group Company Profile - https://www.vault.com/company-profiles/commercial-banking-and-investment-banking/dbs-group
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DBS Bank SWOT & PESTLE Analysis - SWOT & PESTLE.COM
SWOT & PESTLE.com (2020). DBS Bank SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/dbs-bank/ [Accessed 31 May, 2020].
In-text: (SWOT & PESTLE.com, 2020)
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DBS Bank SWOT and PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.
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