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.dpufThe 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.
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