2007'09.02.Sun
DBS china receives approval to Conduct rmb business with chinese residents
August 29, 2007
SINGAPORE, Aug. 29 /Xinhua-PRNewswire/ -- DBS Bank
(China) Limited (DBS China), a fully-owned subsidiary of
Singapore's DBS Bank Ltd, today announced that it has
received approval from the China Banking Regulatory
Commission (CBRC) to offer RMB products and services to
local Chinese residents.
Mored details on the DBS RMB products and services for
the Chinese residents will be announced in due course.
About DBS
Headquartered in Singapore, DBS is one of the largest
financial services groups in Asia with operations in 15
markets. The largest bank in Singapore as measured by
assets, and a leading bank in Hong Kong, DBS'
"AA-" and "Aa1" credit ratings are
among the highest in the Asia-Pacific region. DBS has
leading positions in corporate, SME and consumer banking,
treasury and markets, wealth management, securities
brokerage, equity and debt fund raising. Beyond the anchor
markets of Singapore and Hong Kong, DBS serves corporate,
institutional and retail customers through its operations
in China, India, Indonesia, Malaysia, Thailand and The
Philippines. More information about DBS Group Holdings and
DBS Bank can be obtained from our website
http://www.dbs.com .
About DBS China
DBS is one of the first few foreign banks and the first
Singapore bank to incorporate in China. The subsidiary, DBS
Bank (China) Limited, is headquartered in Shanghai and
commenced business on 28 May 2007 with a registered capital
of RMB4 billion (USD523 million).
DBS first established its presence in China with a
representative office in Beijing in 1993. In 2005, DBS
officially launched its consumer banking business in
Shenzhen, followed by the opening of a sub-branch in
Shanghai in May 2006.
Today, DBS has branches in Beijing, Shanghai, Shenzhen,
Suzhou and Guangzhou and representative offices in Dongguan,
Fuzhou, Hangzhou, and Tianjin.
More information on DBS China can be obtained from
http://www.dbs.com/cn/
For more information, please contact:
Jenny Lee
Vice President
Group Strategic Marketing & Communications
DBS Bank
Tel: +65-6878-8849
Mobile: +65-9733-5757
Email: jennylee@dbs.com
Vicki Soh
Assistant Vice President
Group Strategic Marketing & CommunicationsDBS Bank
Tel: +65-6878-2272
Mobile: +65-9066-3663
Email: vickisoh@dbs.com
PR
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