DBS Opens Singapore's First Two
Supermarket POSB Centres

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POSB customers now have more access and
convenience with supermarket banking

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DBS to open a total of six POSB centres before year end

SINGAPORE, JULY 26 - DBS Bank today opened Singapore's first two supermarket banking centres, POSB@Hougang and POSB@Sengkang. Another four POSB centres at NTUC FairPrice outlets will be opened by end of this year. DBS also aims to have ATMs at all FairPrice supermarkets throughout Singapore by year end.

"We put our customers at the centre of everything we do. We want to enhance the convenience that NTUC FairPrice is already bringing into the lives of our customers. By situating our POSB centres exactly where they are, we give them the access to our facilities, and convenience of banking services. That is what we call easy banking," said Philippe Paillart, DBS' Chief Executive.

DBS said the quick turn-around time with the opening of the new POSB centres exemplifies its commitment to expand customer touch-points and distribution channels to make banking as convenient and accessible for its customers.

Each POSB centre will have a suite of self-service banking facilities such as ATMs, cash deposit machines with passbook-updating facilities and a telephone that links customers directly to the Bank's Call Centre. Staff stationed at the centres full time from 11am to 7pm will assist and encourage customers to use the self-service machines, as well as to answer customers' questions on products and services.

"We believe in meeting our customers where they need us most. We have engaged staff as service ambassadors to guide and encourage our customers to adopt innovations in banking facilities such as our new cash deposit machines," said Mr Paillart. "We are delighted to know that our customers are adapting to new approaches in basic banking well. Since April, we have seen an increase of almost 30 percent in our cash deposit machines," Mr Paillart added.

DBS' ATM transactions are currently tracking at 12 million transactions per month, while phone banking and internet banking are about 1.3 million and 1.6 million transactions per month respectively. Its cash deposit machines, introduced early this year, now handles more than 300,000 cash deposit transactions on average each month.

To assist the Bank's senior customers, it has several experienced service ambassadors who speak a combination of English, Malay, Mandarin and Chinese dialects. This follows feedback from customers that they preferred to interact with staff of the same generation.

DBS reaffirmed its commitment that POSB remains the friendly community bank, offering convenient, basic and affordable banking services. Customers who want a wider array of financial choices to manage their money can continue to visit DBS branches.

To celebrate the opening of these two POSB centres, DBS has organised a series of family activities for the residents in the vicinity of Hougang and Sengkang during the weekend of July 28 - 29. Residents will be encouraged to use the new cash deposit and passbook updating machines, as well as the user-friendly cash withdrawal functions at the ATMs.

Apart from adding this new supermarket banking channel, DBS will be improving its existing POSB branches. A POSB Model branch in Yishun will be ready by end of this year. Following which, over the next 24 months, all POSB branches will be renovated to make them vibrant, and more practical and efficient for customers.

Speaking at the official opening of the new POSB centre at Hougang Festival Market, NTUC's secretary-general and Minister Without Portfolio, Lim Boon Heng said: "The launch of this supermarket banking facility today will bring conveniences to the public and workers. Customers will be able to access ATMs and perform basic banking transactions, with the convenience of doing their grocery shopping, all under one roof."

"I am happy that DBS remains committed to providing services to the small depositors. This ensures that low-income Singaporeans will continue to have their basic banking needs met," Mr Lim said.

NTUC FairPrice's Chairman S Chandra Das said he is confident the supermarket banking concept will be popular among FairPrice's customers as they will now enjoy the convenience of performing basic banking transactions while doing their grocery shopping.

"Shoppers value convenience today. Having a banking service outlet in the supermarket is a value-added service that will bring great convenience to our customers," Mr Das said.

DBS said the strategic partnership with NTUC FairPrice supports their common ground and a shared vision to bring greater convenience and accessibility to customers.

Besides the two centres at Hougang and Sengkang, the four other centres will be located at Tampines Mall, Bukit Ho Swee, Geylang East and Taman Jurong.

For the convenience of its customers, DBS Bank has the largest banking network in Singapore with 105 branches, 26 Electronic Banking Centres, 117 Cash Deposit Machines, and about 900 ATMs.

DBS Bank is the flagship bank of DBS Group Holdings in Singapore. It is ranked among the top banks in Asia, and is the 70th largest in the world. A recognised leader in Internet banking and e-commerce, DBS is the market leader in Singapore-dollar loans and deposits, and equity fund raising. Beyond Singapore, DBS Group serves corporate, institutional and retail customers through subsidiaries in Hong Kong, The Philippines, Indonesia and Thailand, and international banking services through a network of 13 overseas branches and offices.