| Ref No: 34/2005
DBS officially opens newly renovated DBS Treasures Centre and Branch in Raffles Place
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SINGAPORE, NOVEMBER 28 2005 - DBS Treasures Priority Banking will be progressively opening its doors to its clients in various parts of Singapore at or near DBS branches, bringing a new level of convenience and customer experience to clients.
Today, it officially opened the newly renovated DBS Treasures 'Raffles Place' Centre and Branch, located within the Raffles Place CBD area.
This is the second DBS Treasures Centre/Branch to be opened following some recently completed renovations to existing DBS branch sites. The newly renovated Parkway Parade Branch with a separate DBS Treasures Centre was opened on October 20 this year.
The two centres bring the total number of DBS Treasures Centres in the DBS franchise to five across the island.
The new DBS Treasures Centres at Raffles Place and Parkway Parade
flag off the new concept for the DBS Treasures franchise to go beyond
the provision of accessible and basic wealth management banking services.
They offer a wide range of services and products to meet the changing
needs of customers, covering theirs and their families' complete life
cycles.
The centre is dedicated to serve priority banking customers that work
around Raffles Place, mainly upwardly-mobile and career-oriented professionals
whose growing wealth will require more advisory and investment services,
and who want not only to plan for the future but also to have someone
help them manage their wealth so that they can enjoy the fruits of their
labour.
The priority banking segment is among the fastest-growing in Singapore, with
a potential of 236,000 customers with an AUM of between S$200,000 to
S$1 million by 2008 based on recent research. Currently, DBS has 21
% of this pie. DBS defines priority banking customers as those who have
assets under management or AUM of greater than $200,000.
Ms Pearlyn Phau, Senior Vice-President and Head of DBS Treasures
Priority Banking Singapore said: "We are confident to grow this
pie, even if we are starting from a smaller base. With a wide network,
a good proposition and genuine desire to help our customers manage,
grow and preserve their wealth, these newly renovated centres will
bring our services closer to them.
"As the largest bank in Singapore and Southeast Asia, customers understand that we are here to stay with them through thick and thin and that says a lot when considering a financial partner for life."
With its modern decor, Raffles Place DBS Treasures Centre boasts
a spacious customer area within its 260sqm premises. A DBS Treasures
Customer Service Officer stationed at the branch entrance greets
customers, handles general enquiries and directs them to the appropriate
Relationship Managers. 3,400 treasures customers working in the
area are tagged for the Raffles Place DBS Treasures Centre and these
customers are served by a team of professionals comprising a dedicated
Treasures Relationship Manager, a Treasures Service Manager, Mortgage
Specialist, Treasury Specialist and Insurance Planners.
Mr Edmund Koh, DBS' Managing Director and Head of Consumer Banking Group Singapore, commented on the renewed focus in the DBS Treasures concept and infrastructure in recent months as it seeks to serve a growing group of affluent customers who want to stay on with the bank as their financial needs grow in scope and sophistication.
Mr Koh said: "DBS Treasures Priority Banking is the flagship franchise for the DBS Group and will be a key engine of growth and expansion for the bank both locally as well as in Asia.
"We will be doubling efforts in the coming months to reinforce our franchise value with our customers by focusing on improving our customer interaction model, our value proposition in terms of product solutions, rewards and privileges and in enhancing our dedicated touch points, be it our branch networks, our website or our hotline.
"The affluent segment is a very important customer segment for us and we believe in providing the best for our customers."
About DBS
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in Thailand, Malaysia, Indonesia, India and The Philippines. In China, the bank has branches and representative offices in Shanghai, Beijing, Guangzhou, Shenzhen, Fuzhou, Tianjin and Dongguan. The Bank's "AA-" and "Aa2" credit ratings are among the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.
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