Strategy

DBS Bank Eyes Chinese Corporates, HNWIs, To Grow Business

Vanessa Doctor Asia Editor 11 July 2010

DBS Bank Eyes Chinese Corporates, HNWIs, To Grow Business

Singapore's DBS Bank says it is looking forward to expanding its Asian franchise by partnering with China-based firms trying to grow their businesses.

The increased global interest in Chinese companies seeking access to international markets creates an opportunity for DBS to further strengthen its operations, the company said in a statement. DBS estimates that among initial public offerings under $200 million in Asia, Chinese companies account for almost 80 per cent of Hong Kong-raised funds. Singapore accounts for around 60 per cent.

"We're taking a lot of our Singapore corporates, Hong Kong corporates as well as our Taiwanese corporates, Indian and Indonesian corporates into China, so it's both outbound as well as inbound business," said Jeanette Wong, the group executive for DBS' institutional banking group.

Beyond corporates, however, the company noted that it is also looking to tap China's high net worth demographic to build its private banking business, adding that careful research is required to get into the industry and ensure clients' needs are met.

"This is so that we better understand the risks, what they need to do in terms of diversification, and what they need to do in planning and building the foundation for their family members and their future generations," said Su Shan Tan, the head of private banking for DBS.

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