Largest bank in Southeast Asia and the market leader in Singapore. Strong deposit funding, resulting in higher margins amid rising interest rates. Improved asset quality buffer in a turning credit cycle. Sizable direct exposure to Greater China, where economic prospects have become less certain and credit risk is rising. The stable outlook on DBS Bank Ltd. reflects our expectation that the bank will maintain its high systemic importance in Singapore and that its stand-alone credit profile (SACP) will remain 'a' over the next one to two years. We believe both positive and negative rating actions are unlikely over the next one to two years because the bank's SACP needs to decline by at least two notches before the rating is
