DBS Bank

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DBS_Bank

Image:Dbs bank.png

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Info

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Template:Infobox Company

Headquartered in Singapore, The Development Bank of Singapore Limited (SGX: D05) {Mandarin: 新加坡发展銀行), changed its legal name to DBS Bank Limited (星展銀行), in July 2003. The bank was set up in 1968 as a development financing institution led by the Singapore government. Today, its branches numbering more than 100 can be found island-wide. DBSBank is the largest bank in South East Asia by assets and one of the larger Asian banks.

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Acquisition of POSBank

In 1998, DBS Bank merged with POSBank, giving it a dominant market share with over 4 million customers.

(to be expanded)

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Shareholders

The ten largest shareholders as of 11 March 2004 are:

  1. DBS Nominees Pte Ltd: 404,816,806, 27.17%
  2. Maju Holdings Pte Ltd: 234,497,040, 15.74%
  3. Raffles Nominees Pte Ltd: 212,828,534, 14.28%
  4. Temasek Holdings (Pte) Ltd: 185,673,795, 12.46%
  5. Citibank Nominees Singapore Pte Ltd: 107,237,883, 7.20%
  6. HSBC (Singapore) Nominees Pte Ltd: 94,487,525, 6.34%
  7. United Overseas Bank Nominees Pte Ltd: 47,286,452, 3.17%
  8. Morgan Stanley Asia (Singapore) Securities Pte Ltd: 13,737,844, 0.92%
  9. DB Nominees (S) Pte Ltd: 11,500,552, 0.77%
  10. DBS Vickers Securities (Singapore) Pte Ltd: 9,710,968, 0.65%

Temasek Holdings, the investment arm of the Singapore government, is the largest shareholder, effectively owning 420,170,835 shares (or 28.2%) as Maju Holdings is a wholly-owned subsidiary of Temasek Holdings.

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International Operations

DBS operates not only locally in Singapore, but also has branches and offices in China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, South Korea, Taiwan, Thailand, the United Kingdom and the United States.

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Operations in Hong Kong

Main article: DBS Bank (Hong Kong) Limited

DBS started its operations in Hong Kong in 1999 by acquiring Kwong On Bank from Japanese-based Fuji Bank, and renamed it as DBS Kwong On Bank. It acquired Dao Heng Bank (and its subsidiary Overseas Trust Bank) in 2001. The three banks were later merged under the trading name of DBS, and 星展銀行 in Chinese.

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Events in 2005

Singapore's largest bank, DBS Bank, has embarked on an expansion of its operations in India. It is entering into investment banking services, opening its second branch and doubling its employee strength, following a capital infusion of $105 million in 2004. The bank has got a license from the Reserve Bank of India for a branch in New Delhi. The bank plans to open the branch in the July-September 2005 quarter and has plans to recruit about 20 staff members to man the operations.The total headcount for DBS in India will double to over 120 by the end of the year from 62 at present. Presently its only other branch is in Mumbai

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External link

News

  • Tata AIG Life ties up with DBS Bank - Sify
  • DBS Bank to explore Asian growth despite failure in KEB bid - Channel News Asia
  • Tata AIG Life Insurance Company Limited ties up with DBS Bank - Moneycontrol.com
  • KEB’s Union Supports DBS Bank - Korea Times
  • DBS Bank Research upgrades M'sia to overweight - The Edge Daily
  • Dragonair and DBS Bank launch FFP Visa card - Thewisemarketer.com (subscription)
  • China set to become world’s largest foreign reserves holder - Money News Asia
  • DBS Bank Seeks Majority Stake in KEB - Korea Times
  • INDIA PRESS: DBS Holdings Buys Stake In HDFC Bank - Yahoo! News
  • DBS pursuing Thai Military Bank deal - Bangkok Post
  • ... more news

Blogs

  • My Money
  • SIRIUS DBS
  • We never had it so good
  • The Combine was a grueling week for NFL coaches, s...
  • Chase Manhattan Bank
  • StockNews - OCBC to buy 10% stake in Vietnam Bank
  • India's Central Bank Is Prudent, Not Miserly
  • India's Central Bank Is Prudent, Not Miserly
  • Southeast Asia - Thai Ctrl Bk Gov: Shin-Temasek Deal Likely To Proceed 
  • Southeast Asia - Singapore’s Temasek says to go ahead with Thai deal 

Related articles

Image:Wikipedia-small.png Wikipedia article about DBS Bank (search). This article uses material from that article.
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