DBS Bank India is poised for growth as it is set to leverage opportunities from its expanded footprint and customer base through a unique phy-gital (physical plus digital) model. The Bank has a network of ~530 branches across 19 states and 350 locations, with 22 branches in North India.
Commenting on the launch, Bharath Mani, Executive Director & Head – National Distribution, DBS Bank India, “North India is an integral market for us, and we look forward to strengthening our relationships with customers in the region. Chandigarh had topped Niti Aayog’s India Innovation Index in 2021 and we believe the region holds tremendous growth potential. We are bullish on the opportunities ahead and are well-positioned to serve customers through our strong digital proposition and physical footprint. We will continue to offer products & solutions that embed banking in the everyday lives of customers and empower them to Live more, Bank less”.
Shri Nitin Yadav, Home Secretary- Chandigarh added, “I congratulate DBS Bank India for opening a new branch in Chandigarh and wish them the best for their future endeavours”
DBS Bank India delivers superior solutions to its customers that make banking intelligent, intuitive, and effortless, frequently partnering with industry leaders in the ecosystem. It addresses everyday banking requirements through its innovative suite of offerings.
The Bank offers an industry-leading interest rate of 7% per annum on savings account balances above Rs 3 lakh up to Rs 5 lakh. Customers can also earn attractive interest rates on their fixed deposits, with a 7.50% per annum interest on fixed deposits and 8% per annum interest for senior citizens on deposits from 30 to 36 months.
Through its premium banking and wealth management proposition, Treasures, the bank offers an array investment options (mutual funds, portfolio management services, alternate funds etc.), insurance, NRI banking, FX, and asset solutions, developed in partnership with leading market players.
Additionally, DBS Bank India has curated a range of services for large, medium, and small enterprises in the country. The Bank offers an online credit solutions platform, "DBS Digital Business Loans," which ensures easy access to business credit for the entire spectrum of micro, small, and medium-sized enterprises, offering up to Rs 20 crore in credit. DBS Bank India leverages the power of ecosystems and technology to help clients connect across the value chain and provide enabling solutions that drive efficiency and synergies for growth.
The Bank is also working towards strengthening its product portfolio, geographic focus, pricing, and customer segmentation. It aims to scale up its retail and SME lending businesses in the next five years, targeting 40% of its overall revenues from large corporates and 60% from its consumer banking and SME banking business.
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About DBS:DBS is a leading financial services group in Asia across 19 markets. DBS is known for its global leadership, being recognised as the “World’s Best Bank” thrice by Global Finance since 2018. DBS was also recognised as the “World’s Best Bank” by Euromoney in 2021 for the second time in three years and “Global Bank of the Year” by The Banker in 2021. The bank is at the forefront of leveraging digital technology to shape the future of banking with its recognition as the “World’s Best Digital Bank” by Euromoney in 2021 and the world's “Most Innovative in Digital Banking” by The Banker in the same year. Apart from these accolades, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 14 consecutive years from 2009 to 2022. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.
DBS Bank has been present in India for 28 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the 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 a range of banking services for large, medium, and small enterprises and individual consumers in India. In 2016, DBS launched India's first mobile-only bank, digibank, which now has ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. The bank now has a network of ~530 branches in 19 Indian states.
DBS provides a full range of consumer, SME, and corporate banking services. As a bank born and bred in Asia, DBS understands the intricacies of business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities. It established an SGD 50 million foundation to strengthen its corporate social responsibility efforts across Asia by supporting social enterprises: businesses with a double bottom line of profit and social and environmental impact. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste. In 2022, DBS committed an additional SGD 100 million to deepen the ability to create an impact beyond banking, catalysing the bank's various philanthropic and crisis relief measures.
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 of our 30,000+ staff representing over 40 nationalities. For more information, please visit: www.dbs.com/India.
