DBS Bank and Agricultural Bank of China ink MOU at the “OBOR Summit”

Singapore, China.15 May 2017

MOU enhances existing partnership in support of OBOR


Singapore, China, 15 May 2017 - Agricultural Bank of China (ABC) and DBS Bank (DBS) today signed an MOU at the “Belt and Road Forum for International Cooperation”, committing to strengthen and further the long-term comprehensive partnership between the two banks.

Photo caption: (L-R) Zhou Mubing, chairman of Agricultural Bank of China and DBS CEO Piyush Gupta signing an enhanced MOU at the “Belt and Road Forum for International Cooperation”.

According to the MOU, both parties will work together to explore ways to improve cooperation in a number of areas including international and domestic trade finance and settlement, custody, global financial markets, asset management, capital markets, liquidity support and training of staff. This latest MOU builds on an earlier one signed by both banks in 2009 to enhance collaboration across different businesses.

DBS has been in China for over two decades, and is committed to supporting China’s business and economic development. In relation to OBOR, DBS believes it is able to leverage its Asia connectivity, strong product capability, service innovation, as well as access to capital markets and funding, to help clients and partners succeed in winning infrastructure projects.

Said DBS Group CEO Piyush Gupta, “I am delighted to participate in the ‘Belt and Road Forum’ and to deepen DBS’ partnership with Agricultural Bank of China through the signing of this enhanced MOU. By strengthening our cooperation with China’s financial institutions, I believe DBS will be able to contribute further to the business and financial framework for OBOR, and support more Chinese clients in their international expansion.”

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About DBS
DBS is a leading financial services group in Asia, with over 280 branches across 18 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 "AA-" and "Aa1" credit ratings, is among the highest in the world.

DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.

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 of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.