DBS Group Holdings Ltd.

Singapore, Singapore

DBS Group is a leading financial services group in Asia, offering a wide range of products and services including personal banking, wealth management, corporate banking, investment banking, and brokerage services. It is known for its innovative approach to banking, leveraging technology to enhance customer experiences and streamline operations.

CCI Score

1.11

May 31

Latest Event

DBS Involved in Human Rights Complaint Over ESG Controversy

On April 4, 2025, indigenous Australian groups filed a complaint in Australia urging banks, including DBS which contributed US$60 million to a US$1 billion syndicated loan, to withdraw funding from the controversial Santos project due to alleged human rights and environmental harms. DBS clarified that its financing did not directly fund the project, but its involvement has raised ESG litigation concerns.

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OBJECTOR

DBS Group Holdings Ltd. is currently rated as an Objector.

0 to +9 CCI Score

These companies deliberately avoid direct involvement with authoritarian practices. While they do not actively challenge oppressive regimes, they maintain a neutral stance to ensure they are not complicit in supporting such systems.

Latest Events

APR

04

2025

DBS Involved in Human Rights Complaint Over ESG Controversy
-39.37

On April 4, 2025, indigenous Australian groups filed a complaint in Australia urging banks, including DBS which contributed US$60 million to a US$1 billion syndicated loan, to withdraw funding from the controversial Santos project due to alleged human rights and environmental harms. DBS clarified that its financing did not directly fund the project, but its involvement has raised ESG litigation concerns.
-40

Labor Relations and Human Rights Practices

May 16

The complaint highlights concerns that DBS’s funding, even if indirectly connected, may support projects with adverse human rights and environmental impacts on marginalized indigenous communities. This involvement, irrespective of DBS's clarifications, raises significant ESG litigation risks and questions about the bank's adherence to ethical financing and human rights practices.

DBS’ inclusion in Australian human rights complaint spotlights banks’ rising ESG litigation risks
MAR

12

2025

Incoming DBS CEO Reaffirms ESG and DEI Commitments Amid Political Pressure
78.25

At the CONVERGE LIVE session, DBS Deputy CEO Tan Su Shan, set to be the bank's first female CEO, urged companies to adhere firmly to their ESG and DEI commitments rather than altering policies to appease shifting political trends. This stance underscores a commitment to progressive corporate ethics and resistance to politically motivated policy reversals.
+80

Executive Political Engagement

May 16

The statement by the incoming CEO reflects a strong anti-authoritarian stance by resisting pressure to change ESG and DEI commitments for political convenience. By emphasizing ethical leadership and progressive policies, DBS positions itself against corporate practices that compromise social responsibility under political influence.

Companies should resist political pressures and stick to ESG, DEI commitments: Incoming DBS CEO
NOV

22

2024

Human Rights Complaint Over Loan to Controversial Gas Project
-66.43

Indigenous groups have filed human rights complaints against DBS Group for its role in financing Santos' Barossa gas project, which they claim threatens indigenous lands, traditional practices, and the environment.
-70

Labor Relations and Human Rights Practices

May 16

The complaint alleges that DBS Group’s financing of the controversial gas project endangers the human rights and cultural heritage of indigenous communities. Such funding practices demonstrate a disregard for ethical business practices and contribute to systemic harms, making this a significant negative action from the perspective of labor and human rights practices.

DBS among international banks to get human rights complaints over loan to gas company
MAY

02

2024

DBS Launches Digital Banking Reforms after Regulatory Sanctions
35.90

Following severe regulatory sanctions due to last year's operational disruptions, DBS Group Holdings is undertaking digital banking reforms to improve service availability and rebuild trust, as stated by CEO Piyush Gupta during the first-quarter earnings briefing.
+40

Business Practices and Ethical Responsibility

May 16

DBS is responding to regulatory punishment by implementing comprehensive digital banking reforms aimed at improving service availability and restoring consumer trust. This corrective action reflects a commitment to better business practices and ethical responsibility, which aligns with progressive, anti-authoritarian principles by prioritizing accountability and improved service reliability.

Singapore's DBS fights for trust after regulatory sanctions
OCT

24

2023

DBS Digital Banking Outage and Regulatory Investigation
-25.55

The Monetary Authority of Singapore has ordered DBS Group Holdings Ltd. to conduct a thorough investigation after a 10‐hour digital banking outage, marking the bank’s second major disruption in under two years. The regulator criticized DBS for failing to meet high system availability standards, and warned of commensurate supervisory action.
-30

Business Practices and Ethical Responsibility

May 16

The digital outage reflects a significant lapse in DBS's business practices and ethical responsibility. The failure to maintain critical IT systems not only jeopardizes customer trust but also exposes vulnerabilities in serving a diverse customer base, including marginalized groups. The regulatory backlash underscores the need for more robust management practices, which is essential to prevent potential misuse of financial services in a broader authoritarian or repressive context.

Singapore regulator blasts DBS digital banking outage as 'unacceptable'
FEB

13

2023

MAS Imposes Acquisition Ban on DBS Amid Digital Outages
23.84

Singapore’s Monetary Authority of Singapore (MAS) has directed DBS Group Holdings Ltd. to halt new acquisitions for six months following a series of digital banking service outages. The regulator’s decision includes holding senior management accountable and mandates that DBS set aside S$80 million to enhance system resiliency.
+30

Business Practices and Ethical Responsibility

May 16

The regulatory mandate from MAS forces DBS to address its digital service failures by halting acquisitions and enhancing infrastructure, thereby promoting better accountability and ethical business practices. This enforced improvement in operational resilience protects consumers and reinforces proper business ethics.

Singapore directs DBS to halt acquisitions on outage fallout