DBS completes first RMB FX derivatives transactions under new SAFE rules | 简体

Singapore, China, 04 Aug 2014 - DBS Bank (China) Limited (DBS China) announced that it has completed a series of renminbi foreign currency derivatives transactions for corporate clients across China from August 1. The bank is among the first to undertake such market innovations under new measures by China’s State Administration of Foreign Exchange (SAFE).

SAFE has announced a new framework effective from August 1 to allow banks to offer renminbi and foreign currency derivative products to corporate customers to enable them to hedge against potential currency volatility of their businesses. On the first day of the new rulings, DBS China successfully executed a series of renminbi foreign currency derivatives, including European-style option transactions for clients based in eastern and southern China, as well as a renminbi cross currency swap for a client headquartered in northern China.   Jacky Tai, Managing Director and Head of Treasury and Markets at DBS China said, “As RMB internationalisation progresses, two-way renminbi fluctuation has become the new normal hence companies need effective tools to help lower overall currency risks. Many customers have expressed interest in new derivatives instruments since the announcement of the new measures. As a leading foreign exchange solutions provider in Asia, we are honoured to offer a wider range of trading strategies in support of our customers’ needs to hedge foreign exchange exposure.”   Leveraging the bank’s experience and network in Asia’s two developed financial markets Singapore and Hong Kong, DBS China is developing more RMB/FX risk management solutions, to provide clients with greater flexibility to increase capital efficiency as well as to contribute to the development of China’s financial market.

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DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for four consecutive years, from 2009 to 2012. In 2012, DBS was named Asia's Best Bank by The Banker, a member of the Financial Times group, and Derivatives House of the Year, Asia ex-Japan, by Asia Risk.

DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.

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 18,000 staff, representing over 30 nationalities.  For more information, please visit www.dbs.com.