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Home / Sff / Singapore Economy

DBS outgrows peers and global banks in the past 15 years

Singapore economy

DBS outgrows peers and global banks in the past 15 years

Goola Warden Published on Thu, Aug 07, 2025 / 12:14 PM GMT+8 / Updated 8 days ago

Since 2009, DBS has returned 240% in share price alone and 567% or 12.9% a year in total shareholder returns - THE EDGE SINGAPORE

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DBS Group Holdings has had a spectacular run since 2009, when Piyush Gupta took over as group CEO. DBS was founded in 1968 and acquired POSB Bank in 1998. POSB was founded in 1877, making it Singapore’s oldest homegrown financial services company, pre-dating Great Eastern Holdings.

The acquisition of POSB had to be approved by parliament. The transaction was announced in July 1998 and approved by parliament that October. The merger was part of the Singapore government’s policy to encourage local banks to consolidate and become stronger competitors versus international banks.

“While we open up the financial sector to greater competition, we should also build up our domestic institutions. Strong local banks are important to the stability of our banking system. They should hold their own in the domestic market, even when this becomes more open. Some should become significant players in the region. We would not be happy with what the Japanese ruefully describe as a Wimbledon outcome. In Wimbledon, the tennis courts are British, but the winners are all foreign. This is what happened in Mexico and Argentina, when they opened up their banking industries after their economies ran into crises,” then deputy prime minister Lee Hsien Loong said in 1998.

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DBS outgrows peers and global banks in the past 15 years

Singapore economy

DBS outgrows peers and global banks in the past 15 years

Primary tabs

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DBS outgrows peers and global banks in the past 15 years

Singapore economy

DBS outgrows peers and global banks in the past 15 years

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