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DBS Bank Ltd.
Singapore’s banking giant, DBS Bank Ltd., is the new name of previously Development Bank of Singapore Limited. Adoption of this new name in 2003 was meant to define its role for regional operation.
The Singaporean government established this bank in the form of development-financing firm in 1968. This bank expanded fast over the period with branches crossing 100 today. It has distinction to become largest South East Asian bank in terms of holding assets as Asia’s larger bank.
Major operations of DBS Bank Ltd., are in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fundraising in both Singapore and Hong Kong regions.
It was in 1998 that DBS Bank Ltd., and POSBank merged for further dominance in banking sector. This bank has crossed boundaries and has operational branches in China, Dubai, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, Philippines, Taiwan, Thailand, Vietnam, United Kingdom and United States amongst others.
DBS Bank Ltd., has launched the Islamic Bank of Asia (IB Asia) on May 7, 2007. This bank acquired Kwong On Bank in Hong Kong in 1999. It has successful operation in China with 8 branches. Recent initiative of DBS Bank Ltd., was taking over Bowa Bank of Taiwan to start operation there. It has 12 branches in Indian subcontinent in its metro cities.
Dbs Bank Ltd Details:
IFSC Code of Banks In India