DBS named Asia’s safest bank for seventh year running

It moved up one spot on the global rankings.

DBS continued to defend its spot as Asia’s safest bank for the seventh consecutive year, according to rankings published by Global Finance.

The bank also moved up one place to the 11th spot on the global list of safest banks. DBS also retained its 2nd place position on the list of World’s Safest Commercial Banks, which comprises financial institutions which are not backed by government guarantees.

“The past year has been a rollercoaster for companies and investors, as some of the region’s biggest markets have seen intense volatility and major market changes,” said Joseph Giarraputo of Global Finance.

The rankings, first established in 1992, covered the world’s 500 largest banks.

The banks were selected through an evaluation of long-term credit ratings – from Moody’s, Standard & Poor’s and Fitch Ratings.