|
|
|
|
|
Ref No: 15/2007
DBS CHINA RECEIVES APPROVAL TO
CONDUCT RMB BUSINESS WITH CHINESE RESIDENTS
SINGAPORE, 29 AUGUST 2007 - DBS Bank (China) Limited (DBS China), a
fully-owned subsidiary of Singapore's DBS Bank Ltd, today announced that it has
received approval from the China Banking Regulatory Commission (CBRC) to offer
RMB products and services to local Chinese residents.
More details on the DBS RMB products and services for the Chinese residents will be announced in due course.
About DBS
Headquartered in Singapore, DBS is one of the largest financial
services groups in Asia with operations in 15 markets. The
largest bank in Singapore as measured by assets, and a leading
bank in Hong Kong, DBS' "AA-" and "Aa1"
credit ratings are among the highest in the Asia-Pacific region.
DBS has leading positions in
corporate, SME and
consumer banking, treasury and
markets,
wealth
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 China, India, Indonesia,
Malaysia, Thailand and The Philippines. More information about
DBS Group Holdings and DBS Bank can be obtained from our website
www.dbs.com.
About DBS China
DBS is one of the first few foreign banks and the first Singapore bank to incorporate in China. The subsidiary, DBS Bank (China) Limited, is headquartered in Shanghai
and commenced business on 28 May 2007 with a registered capital of
RMB4 billion (USD523 million).
DBS first established its presence in China with a representative office in Beijing in
1993. In 2005, DBS officially launched its consumer banking business in Shenzhen,
followed by the opening of a sub-branch in Shanghai in May 2006.
Today, DBS has branches in Beijing, Shanghai, Shenzhen, Suzhou and Guangzhou
and representative offices in Dongguan, Fuzhou, Hangzhou, and Tianjin.
More information on DBS China can be obtained from www.dbs.com/cn/
|
|
|
|
 |
|
|
|
|