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Wednesday, 3 June 2015

DBS gets nod to set up branches in Australia, with first to open this month



By Rupali Karekar

SINGAPORE - DBS, Southeast Asia's largest bank, has received much-awaited regulatory approval to carry out banking activities in Australia, expanding its presence to 18 markets around the world.

The bank will open its first branch in Sydney later this month, which will be headed by DBS Australia Country Head Helen Yap, DBS announced in a filing with the Singapore Exchange on Wednesday. Ms Yap was formerly Australian general manager for OCBC Bank.

DBS is the only Singapore bank which does not have a presence in Australia. Rivals OCBC and United Overseas Bank have had branches in Australia for a while. OCBC has one in Sydney while UOB has a branch in Sydney and offices in Melbourne and Brisbane.

The new branch will provide corporate finance, trade finance, cash management and treasury solutions to Asian and international companies looking to expand Down Under or Australian companies looking for opportunities in Asia.


SINGAPORE - DBS, Southeast Asia's largest bank, has received much-awaited regulatory approval to carry out banking activities in Australia, expanding its presence to 18 markets around the world.
The bank will open its first branch in Sydney later this month, which will be headed by DBS Australia Country Head Helen Yap, DBS announced in a filing with the Singapore Exchange on Wednesday. Ms Yap was formerly Australian general manager for OCBC Bank.
DBS is the only Singapore bank which does not have a presence in Australia. Rivals OCBC and United Overseas Bank have had branches in Australia for a while. OCBC has one in Sydney while UOB has a branch in Sydney and offices in Melbourne and Brisbane.
The new branch will provide corporate finance, trade finance, cash management and treasury solutions to Asian and international companies looking to expand Down Under or Australian companies looking for opportunities in Asia.
- See more at: http://www.straitstimes.com/news/business/banking/story/dbs-gets-nod-set-branches-australia-20150603#sthash.hIaSqXtv.dpuf
Read? DBS gets nod to set up branches in Australia, with first to open this month

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