What Markets Value: Inside DBS’s Multi-Year Journey of Digitalisation
How do organisations create value that markets can clearly see, understand and reward?
This IVSC Professional Insights paper explores that question through the lens of DBS Bank, drawing on a keynote address delivered by DBS Group Chief Financial Officer, Mrs Chng Sok Hui, at the IVAS–IVSC Business Valuation Conference in Singapore.
The paper offers a rare, first-hand account of how a major global bank has approached value creation over more than a decade of sustained transformation — not as a single initiative, but as an integrated, multi-year journey.
Key themes explored in the paper include:
- Digitalisation as a driver of value
DBS’s experience shows how being “digital to the core” goes far beyond front-end technology. The paper explains how digital infrastructure, data capabilities and measurable performance indicators can be translated into financial outcomes that markets can incorporate into valuation models. - Culture and organisational design
Technology alone does not create value. The paper highlights the role of deliberate cultural change, customer-centric design and cross-functional ways of working in supporting sustainable performance and long-term value creation. - Capturing value where it matters most
The paper examines how DBS identified and grew high-return businesses, and how this focus contributed to stronger returns on equity and improved market perceptions over time. - Resilience and transparency in volatile environments
In an increasingly uncertain global landscape, the ability to navigate downside risk is as important as capturing upside opportunities. The paper explores how resilience, clear capital management frameworks and effective communication with markets can protect and unlock value. - Implications for valuation professionals and valuation users
While grounded in the banking sector, the insights shared are relevant across industries. The paper provides practical reflections on how value is created, evidenced and communicated — offering useful context for those involved in valuation, financial reporting, investment decision-making and capital allocation.