DBS BANK OPENS FIRST SUB-BRANCH AND
DBS TREASURES PRIORITY BANKING CENTRE IN BEIJING
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Another new branch to open in Nanning
Beijing, Singapore, Hong Kong, Taiwan, 18 November 2008 - DBS Bank (China) Limited ('DBS China') officially opened its first DBS Treasures priority banking centre in the Chinese capital at the newly relocated DBS China Beijing Branch, and Gemdale Plaza Sub-branch, its first sub-branch in Beijing.
The expanded network in Beijing demonstrated DBS' commitment to China. This is part of its plans to offer a comprehensive suite of services to better serve the needs of its corporate and individual customers in China. Earlier this year, DBS upgraded its Tianjin representative office to a full service branch and also opened a sub-branch in Suzhou Ganjiang Dong Road.
The bank is looking forward to opening another new branch by the end of the year. It is currently awaiting the approval from the China Banking Regulatory Commission to proceed with the opening of a branch in Nanning, Southern China.
Today also marks Richard Stanley's first official visit to Beijing since his appointment as DBS Group Holdings CEO on 1 May 2008.
Mr Stanley said: "I spent the last eight years of my career in China and experienced first hand, the country's meteoric rise. It is evident that the Chinese authorities are intent on further developing the banking and financial services industry. I feel privileged to have worked with them and have no doubt that China will play an increasingly important role in the global arena.
"We expect the operating environment to become increasingly challenging. With our strong capital and liquidity positions, we believe DBS is well positioned to emerge stronger as Greater China continues to be an integral part of DBS' ambition to become a leading bank in Asia. Our growing presence in China is a demonstration of our firm commitment to this region."
In August this year, DBS China Beijing Branch relocated to a more spacious and convenient location at the Winland International Finance Center, No 7, Financial Street, West City District of Beijing. It offers a comprehensive range of products and services including enterprise and corporate banking, consumer banking and private banking. With the establishment of the DBS Treasures Centre, DBS China Beijing Branch can now better serve the priority banking customers in Beijing.
DBS first set foot in China with the opening of its Beijing Representative Office in 1993. Four years later in 1997, DBS upgraded the representative office to a branch when it became the first Singapore bank to receive a branch licence in the capital. Last year, DBS was the first Singapore bank, and among the first few foreign banks, to incorporate in China.
Currently, DBS has six branches in Beijing, Shanghai, Suzhou, Guangzhou, Shenzhen and Tianjin and five sub-branches in Beijing, Shanghai and Suzhou. In addition, DBS also has representative offices in Hangzhou, Fuzhou and Dongguan.
In September this year, DBS officially launched its expanded 40-branch network in Taiwan. The bank will leverage its enhanced presence in China and Taiwan and extensive footprint in Hong Kong to better serve its customers in the Greater China region as well as other parts of Asia.
About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, 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 expanding 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 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.