Hong Kong's best international bank 2023: DBS Bank
Over the past year, DBS Bank (Hong Kong) Limited has strengthened its position as a leader in the Hong Kong banking sector, demonstrating impressive growth, strategic innovation and unwavering commitment to sustainability. These attributes have attracted attention, with the bank receiving Asiamoney’s best international bank award for Hong Kong this year.
DBS's financial performance in 2022, under the leadership of Hong Kong CEO Sebastian Paredes, was remarkable. The bank’s total income climbed 16% to HK$16.6 billion ($2.12 billion), net interest income increased 30% to HK$10.5 billion, while net profit rose 19%, reverting to pre-pandemic highs and demonstrating the bank’s resilience and effective management at a time of global economic uncertainty.
DBS also maintained robust asset quality throughout this period, further solidifying its financial standing.
An integral part of DBS's success has been its strategic focus on digital transformation and innovation. The bank implemented a seamless digital account-opening experience using electronic identity verification (eIDV) technology, which is more convenient for customers and speeds up the banking process.