Piyush Gupta, chief executive officer of DBS Group, has been named the Singapore Business Leader of the Year.

Gupta was heralded for his vision and talent, which helped build his company into a leading financial services group in Asia, at this year's CNBC Asia Business Leaders Awards.

“With its headquarters in Singapore, DBS is a market leader in the country with over four million customers and a network of more than 2,300 branches, ATMs and self-service banking machines,” CNBC stated in a press release.

“And with Mr. Gupta's excellent leadership, the company expects to continue to thrive not only in Singapore, but expects significant growth in Greater China, Southeast Asia and South Asia.”

Prijono Sugiarto, president director of Astra International, earned the title of Asia Business Leader of the Year, thanks to his exceptional leadership skills, innovative strategies and focus on long-term growth.

Group chief executive and president of AIA Group Ltd, Mark Tucker, was awarded the Asia Innovator of the Year award.

He was commended on his inventive thinking in business and going beyond the traditional product development approach to innovation that helped steer growth for his company across the region.

The region's top business leaders

Asia Business Leader of the Year: Prijono Sugiarto, President Director, Astra International

Asia Innovator of the Year: Mark Tucker, Group Chief Executive and President, AIA Group

Asia Talent Management: Justo A. Ortiz, chairman and CEO, UnionBank of the Philippines

Corporate Social Responsibility: Candra Ciputra, president director, PT Ciputra Development

Lifetime Achievement Award: Henry Sy Sr., founder and chairman, SM Investments

Singapore Business Leader of the Year: Piyush Gupta, CEO, DBS Group