· Strategy and resource allocation

  • Value creation
  • Materiality

Key observations:

In disclosing information about matters that substantively affect the organisation’s ability to create value over the short, medium and long term (International <IR> Framework, para. 3.17), DBS has included in its 2015 Annual Report a stand-alone section titled “Material Matters”. Firstly the “material matters identification process” is briefly illustrated through three main steps, that are “identification”, “prioritisation” and “integration” which is  in line with the “Materiality determination process” proposed in the International <IR> Framework (para. 3.18). Then, a table summarises the material areas for the organisation (namely, “People”, “Responsible Banking”, “Digital transformation”, “Operating environment”) and also the singular matters belonging to each area, together with the risks and opportunities associated to them. A final column sets out the actions that DBS is undertaking to face the risks and take the opportunities, by signposting to dedicated sections of the Report. Indeed, as proposed in the Framework, the materiality determination process “applies to both positive and negative matters, including risks and opportunities and favourable and unfavourable performance or prospects” (para. 3.19). Finally, it has to be pointed out that “relevant matters are integrated into the management process” (para 3.20) through the balanced scorecard.

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