DBS Is "Best Bank in Singapore" in Euromoney's Awards For Excellence 2001

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Competed against all global, regional and local banks in Singapore to win award

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DBS Continues To Direct All Efforts On Building The Best Bank In Asia

SINGAPORE, JULY 22 - Euromoney, the pre-eminent magazine of the world's capital, equity and money markets, has named DBS the "Best Bank in Singapore" for the second consecutive year in the Euromoney's Awards for Excellence 2001.

The award is based on the Bank's capabilities and overall outstanding performance in all areas, from Retail Banking, Wholesale Lending, Trade Finance, Treasury, Cash Management to Custody and Payments. Euromoney arrived at this conclusion after evaluating the performances of all global, regional and local banks in Singapore for the year and interviewing multinational corporations, institutional investors and financial institutions around the world.

Said Mr Simon Brady, Managing Director of Euromoney Magazine, who was recently in Singapore to present the award: " We have removed domestic bank categories from the Awards from this year. Despite being pit against the foreign banks who traditionally dominate the awards scenes, DBS has performed very well." He added: " The Bank has proven that besides having the best retail and local currency wholesale operations in the country, it also offers the best in cross-border financing and transaction services, which is often the forte of foreign institutions."

Mr Philippe Paillart, Vice Chairman and CEO of DBS, sees this award as a demonstration of DBS' commitment to build the best bank in Asia. " We are honoured to receive this award for the second year. It strengthens our commitment to focus on serving individuals and corporates better, locally and across the borders. We will continue to invest in technology, human capital and expand product offerings to further enhance our market position at home and reinforce our regional bank stature overseas."

Euromoney is the pre-eminent global financial publication covering the world's capital, equity and money markets. It is the flagship publication of Euromoney Institutional Investor Plc, one of Europe's largest financial communications companies. The authority and prestige of the magazine are immense. According to an independent research survey, the 2000 Global Capital Markets Survey, corporate, banking and investment specialists regard Euromoney as the best financial magazine in the world. Euromoney's Awards for Excellence is in its 10th year and has over the years set the standards for banking and capital market excellence amongst the top ranking financial institutions around the world.

DBS Bank is the flagship bank of DBS Group Holdings in Singapore. It is ranked among the top banks in Asia, the 70th largest in the world, a recognised leader in Internet banking, e-commerce and the market leader in Singapore-dollar loans and deposits, and equity-fund raising. Beyond Singapore, DBS Group serves corporate, institutional and retail customers through subsidiaries in Hong Kong, The Philippines, Indonesia and Thailand and international banking services through a network of 13 overseas branches and offices.