DBS LAUNCHES CREDIT CARD FOR OWNERS OF LEADING SMEs
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DBS World Business Card targeted at business leaders to help them navigate
global economic turbulence
Singapore, 3 November 2008 - DBS Bank today launched a premium credit card targeted at owners and senior executives of leading small and medium-sized enterprises (SMEs). The DBS World Business Card recognises their success, gives them unparalled peace of mind during travelling and card-loss emergencies and helps them navigate challenges presented by the current global economic turbulence more easily.
Edwin Khoo, Managing Director and Head of Enterprise Banking, said: "Although Asia has been affected by the US sub-prime crisis, leading SMEs continue to see opportunities in adversity. As a bank that keeps faith with our customers through good times and bad, we believe in providing a full suite of banking solutions to meet all of their banking needs."
DBS said that in spite of the challenging operating environment, leading SMEs are resilient and continue to invest in business-building activities, while looking at ways to reduce and streamline expenses. For example, many SME bosses have regional-expansion ambitions, but are also increasingly conscious of the need for more cost-effective travel. Others are looking at ways to wine and dine clients on a reduced entertainment budget but without sacrificing clientele experience. Peace of mind, comfort and convenience are also key considerations.
In recognition of this, the DBS World Business Card offers a slew of benefits - including unique industry features - which are designed to help successful entrepreneurs to continue their business building activities, without the need for drastic cutbacks or changes.
Among the benefits, the DBS World Business Card is the first business card in Singapore to offer unlimited free access to more than 300 airport lounges globally. This enables SME bosses who used to travel Business Class but are now flying Economy Class to continue to enjoy airport lounge privileges and the comfort they offer, at no extra cost.
To enable SME leaders to wine and dine customers at affordable prices, the credit card comes with the "A-la-carte" partner dining card, which offers generous discounts at renowned restaurants locally and overseas.
DBS said that in the current business climate, SME bosses are keenly aware of the need to track their expenses, and want to have the ability to view their corporate expenditures in a single monthly statement. The DBS World Business Card makes this possible by offering a credit line tailored to their spending, enabling card-holders to consolidate their expenses on one card, and manage their spending better.
In addition, the DBS World Business Card is the only business card that offers loss card insurance up to SGD 10,000, giving the card-holder peace of mind in the event that the card is lost or stolen. Card-holders are also assured of complimentary medical emergency assistance if they meet with any mishaps or fall ill when travelling overseas - a privilege usually accorded only to employees of large multinational companies.
Said Mr. Khoo: "When the dust finally settles and global markets bounce back, Asia will play a more prominent role on the world stage. Similarly, SMEs in Singapore will emerge from this current downturn fitter and stronger. Launching the DBS World Business Card now is a testimony to DBS' commitment to offering banking solutions that give our clients value, comfort and convenience, regardless of where we are in the business cycle."
About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is the largest bank in the country 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.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expand its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 15,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.