DBS Bank
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Headquartered in Singapore, The Development Bank of Singapore Limited Template:Sgx {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)
Shareholders
The ten largest shareholders as of 11 March 2004 are:
- DBS Nominees Pte Ltd: 404,816,806, 27.17%
- Maju Holdings Pte Ltd: 234,497,040, 15.74%
- Raffles Nominees Pte Ltd: 212,828,534, 14.28%
- Temasek Holdings (Pte) Ltd: 185,673,795, 12.46%
- Citibank Nominees Singapore Pte Ltd: 107,237,883, 7.20%
- HSBC (Singapore) Nominees Pte Ltd: 94,487,525, 6.34%
- United Overseas Bank Nominees Pte Ltd: 47,286,452, 3.17%
- Morgan Stanley Asia (Singapore) Securities Pte Ltd: 13,737,844, 0.92%
- DB Nominees (S) Pte Ltd: 11,500,552, 0.77%
- 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.
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.
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.
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
External link
- Development Bank of Singapore (DBS) (http://www.dbs.com) Official sitezh:星展銀行