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SINGAPORE,CHINA,27 October 2014 -

DBS Bank (China) Limited (“DBS China”) has been appointed one of the first market makers for direct trading of the Renminbi (RMB) and Singapore dollar (SGD) in China's interbank foreign exchange market. With the appointment by the People’s Bank of China, from tomorrow, DBS China will provide competitive RMB-SGD two-way quotations in the interbank market as a market maker.

DBS China is one of the most active participants of China’s inter-bank foreign exchange market. In addition to the latest appointment, DBS China is the only Singapore bank to be appointed as the official RMB-USD FX spot, forward and swap market maker in China. DBS China has been actively participating in China’s interbank foreign exchange market as a market maker to provide market liquidity. DBS China’s Treasury and Markets team will leverage its extensive experience in foreign currency derivatives products innovation to help clients and other financial institutions effectively manage their RMB/SGD currency risks, reduce currency hedging cost as well as promote the development of the foreign exchange market in China.

DBS China Chief Executive Officer Neil Ge said, “DBS is very honoured to be appointed as one of the first market makers for direct trading of the RMB and SGD. This is a key milestone and significant step forward for RMB internationalisation and China’s financial markets reform. Given that China is Singapore’s largest trading partner and Singapore is China’s largest foreign direct investor, more robust RMB trading and liquidity will further boost two-way trade and investments. With its roots as the Development Bank of Singapore, DBS has been at the forefront of RMB internationalisation and is a market leader in Singapore, Hong Kong and Taiwan’s offshore RMB market. The bank is committed to leverage our regional network as well as product innovation experience to contribute to RMB internationalisation.”

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About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 250 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 20,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com

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