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Saturday, 22 March 2014

DBS looking to capitalise on emerging markets to grow SME Banking business

DBS Bank is looking at opportunities in emerging markets such as China, India, Indonesia and Taiwan to grow its small- and medium-sized enterprise (SME) Banking business.

 
 
 
SINGAPORE: DBS Bank is looking at opportunities in emerging markets such as China, India, Indonesia and Taiwan to grow its small- and medium-sized enterprise (SME) Banking business.

The lender is hoping that in time, these markets will make up one-third of its SME Banking's takings, up from one-fifth currently.

Currently, Singapore and Hong Kong make up four-fifths of DBS' SME Banking income.

Last month, DBS reported that its SME business grew 11 per cent in 2013 to hit a record S$1.37 billion.

It expects performance this year to keep pace with or outdo last year’s record, although it is also cautious about the global outlook.

Lim Chu Chong, managing director and regional head of SME Banking at DBS Bank, said: "Because of the macroeconomic headwinds we see in some of these markets like India, Indonesia, and China, we do not expect loan growth to be as high. That's because we need to ensure that we manage our loan quality as we ride through the cycle. However, we will still expand our customer franchise by picking out good clients."

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