Since the establishment of its wholly-owned subsidiary, DBS Bank India Limited (DBIL) in 2019, the bank has built a greater scale in India by adopting a ‘phygital’ model. It has rapidly grown the branch network in the country and is now present in 25 cities with 35 branches.
Commenting on the launch, Prashant Joshi, Managing Director and Head of National Distribution said, “We are delighted to offer our banking products and services through our branch in Bhubaneswar. It is an integral part of our expansion strategy and we look forward to strengthening our relationships with customers in the market. The city has evolved as a hub for IT, manufacturing and industrial projects over the past few years. With the market poised to grow further, we are bullish on the opportunities ahead.”
DBS introduced digibank in 2016, and has acquired 2.6 million retail banking customers since its launch. In addition to savings accounts, digibank provides unsecured loans and is the first to offer paperless onboarding for mutual fund investments from multiple fund houses. DBS also offers a compelling suite of services and wealth solutions through DBS Treasures. These include accelerated account opening services globally, an all-in-one digital banking and wealth management platform, remittance services and 40+ exclusive signature experiences and bespoke privileges to its customers.
DBS Bank has designed solutions to cater to customers across their banking lifecycle making banking simpler for time-strapped business owners. Some of the key solutions include, Express Business Account opening, DBS Digital Business Loans and a range of collection solutions including UPI Collect and NACH Debit Collections. The bank’s customised offerings are complemented by the digital transaction platforms, such as IDEAL, for regular banking transactions and trade requirements, DealOnline, for online forex trading and Loan Servicing Portal, for enquires and status updates. DBS Bank offers an array of working capital and trade finance options, including FCY Term Loan, Packing Credit, Bank Guarantee, Letter of Credit, Foreign Currency Hedging, etc.
DBS, which was named ‘Safest Bank in Asia’ for eleven consecutive years[1], has been on an ongoing journey to shape the future of banking. It has designed end-to-end digitised solutions to seamlessly interweave banking into a customer’s everyday life, by making it a part of their ecosystem.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
DBS Bank has been present in India for 26 years, having opened its first office in Mumbai in 1994. DBS Bank India Limited is first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. DBS provides the entire range of banking services for large, medium and small enterprises and to individual consumers in India. In 2016, DBS launched India’s first, mobile-only bank – digibank, which now has over 2.6 million customers. Currently present across 25 cities, the Bank has been expanding its presence across India since converting to a wholly owned subsidiary.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. 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 our 29,000 staff representing over 40 nationalities. For more information, please visit www.dbs.com.
For more information, contact:
Anand Mugad
DBS Bank India Limited
Email: anandmugad@dbs.com
Mobile: +91 - 97733 99244
Ankit Nanavati
Email: ankitnanavati@dbs.com
Mobile: +91 - 9920058800
[1] DBS was named ‘Safest Bank in Asia’ by Global Finance
