Singapore’s DBS fights for trust after regulatory sanctions

SINGAPORE — Southeast Asia’s largest lender by assets, DBS Group Holdings, is fighting to demonstrate the results of its digital banking reform after last year’s severe disruptions, which drew punishment from Singapore’s financial regulator.

“We have focused on improving service availability,” CEO Piyush Gupta said during the first-quarter earnings briefing on Thursday. “We have done a lot of the heavy lifting, but in truth, we still have more work to do.”