Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 15 markets including China. 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
China is an important market for DBS. In May 2007, we were the first Singapore bank to set up a locally-incorporated subsidiary in China, DBS Bank (China) Limited. In a little less than three years, we have grown our customer base in China by over four times, and nearly doubled our staff strength to 1,000. Expansion of our China network continues, and today we have eight branches and seven sub-branches across eight cities in China. 2010 marks a new milestone, as we moved into a new headquarters building, the DBS Bank Tower, located at the heart of Shanghai’s financial district.
DBS first set foot in China with the establishment of a representative office in Beijing in 1993. Set up in 1995, DBS Shanghai Branch was one of the first 10 foreign banks to obtain a RMB license when the licenses were issued in 1998.
In 2005, we expanded our business with the launch of priority banking and consumer banking business in Shenzhen. We marked another new milestone when we opened a sub-branch in Shanghai in 2006.
Our Network
Strategically located in the key trade and financial hubs of China, DBS has a network of full service branches in Beijing, Guangzhou, Shanghai, Shenzhen, Suzhou, Tianjin, Dongguan, Nanning and Hangzhou; and representative offices in Fuzhou which provide a comprehensive range of commercial and corporate banking services.
Milestones in China
2011
- Achieved Loan to Deposit ratio (LDR) of below 75% in March 2011, one of the first few foreign banks to meet this regulatory requirement in advance.
- Opened Hangzhou branch in February 2011. The branch broke even within four months, setting a new record not only for DBS China but also for foreign banks operating within Zhejiang Province in recent year.
- Launched inaugural DBS-Fudan Banking Programme jointly with Shanghai Fudan University in April 2011 to identify talent for the bank.
2010
- Continued to strengthen our regional connectivity by setting up a Singapore desk and a Taiwan desk in China, as well as a China desk in Singapore in December 2010. This is to better support Chinese MNCs’ expansion into Asia as well as our Asian customers’ foray into China.
- Entered into landmark strategic agreement with RBS to transfer its China retail and commercial banking customer base, business portfolios and related employees in Shanghai, Beijing and Shenzhen to DBS China in December 2010.
- Established a charity fund with Shanghai Charity Foundation to provide financial support to migrant children in China.
- One of the main sponsors of the Singapore Pavilion for the Shanghai World Expo in 2010.
- Inaugurated DBS Bank Tower, DBS’ first building in China in February 2010.
2009
- Launched RMB debit card in July 2009. The first Singapore bank to offer debit card in China.
- Established DBS Nanning branch in January 2009, the first branch in West China and in the major trading window between China and ASEAN countries. Nanning is expected to be a key spot for DBS China to grow its network in Southwest China.
2007
- Among the first few foreign banks and the first Singapore bank to incorporate in China. DBS Bank (China) Limited commenced business in May 2007.
2006
- Received approval from the China Banking Regulatory Commission in 2006 to provide time deposits of at least RMB 1 million to local residents at Beijing, Shanghai and Shenzhen branches.
- Opened flagship sub-branch in Shanghai Luwan in 2006 focusing on personal and priority banking services.
2005
- Launched consumer banking business in China with the consumer banking outlet in Shenzhen in 2005.
2003
- First established presence in South China with the set-up of Shenzhen Branch; One of the first foreign banks to focus on Small and Medium Enterprise (SME) business in the Pearl River Region.
2002
- First foreign bank to break into the RMB syndicated loans market in 2002.
1998
- Set up in 1995, DBS Shanghai Branch was one of the first 10 foreign banks to obtain a RMB license in 1998.
- DBS Beijing and DBS Shanghai Branches were the first Singapore bank branches to receive approval to provide foreign currency account conversion services to foreign enterprises.
1995
- First Singapore bank to receive QFII Custodian License from PBOC in 1995.
1993
- Established first China representative office in Beijing in 1993.