DBS Bank opens branch in B'lore

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Bangalore, Sep 9 (UNI) Singapore-based DBS Bank today announced the opening of its branch in the city and said it would expand its network across the country.

This opening comes after the launch of the latest DBS branches in Kolkata and Chennai. It had received approvals for opening new branches in Moradabad, Nasik, Pune, Salem and Surat. Prior to this, the bank had two branches in New Delhi and Mumbai.

Talking to reporters here, DBS Bank India CEO Pranam Wahi said the bank was one of the largest financial groups in Asia with operations spanning across 16 markets.

The bank held a leading position in corporate sector, SME sector, consumer banking, treasury and markets, wealth management, securities brokerage, equity and debt fund raising.

''India is one of the fastest growing economies in Asia and an important growth market for DBS. We are, therefore, looking for larger and deeper banking network,'' he said.

This branch would enable the bank to do business in tier II cities in the South which was a lucrative market in view of the increased presence of multinational companies, he added.

''The bank's key value proposition lies in its ability to provide an Asia-specific focus to its products and services. As a bank with growing pan-Asian footprint, we will leverage our deep understanding of the region, local culture and insights to serve and build relationships,'' he said.

The city branch would specialise in foreign exchange and trade flow services. It would also offer a range of corporate banking products and wealth management products like NRI services and DBS Treasures Priority Banking to its customers.

UNI RS SJ 1533

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