Solid franchise in the core Singapore market, Improving asset quality and operating performance, and Diversified earnings base. Competitive pricing pressure. The ratings on DBS Bank Ltd. reflect the bank's solid franchise in the Singapore market, where it is the largest bank in terms of consolidated assets. DBS Bank's robust risk management systems support its strong financial profile, particularly asset quality and operating performance. The ratings also incorporate our expectations that the bank will benefit from better top-line growth and sustainable nonlending income, especially from wealth management. DBS Bank has a significant presence in Hong Kong, where it is the sixth-largest bank. This geographical and earnings diversity helps to reduce the bank's exposure to domestic credit cycles. In addition, its solid
