DBS, Singapore’s largest bank, has announced its sponsorship of a new Dragon Boat Race, the first of its kind held in the city-state for over a decade.

The inaugural DBS Marina Regatta, a new international competition for the Asian sport of dragon boating, will be held annually in partnership with the Singapore Dragon Boat Association. It will be held from 4 to 6 of May 2012 and races are divided into international and local categories. Registration opens this month.

The regatta will take place in the Marina Reservoir – against the backdrop of the new Marina Bay city skyline and on the doorstep of DBS’ new headquarters at Marina Bay Financial Centre Tower 3.

DBS will oversee marketing and branding and is providing S$70,000 ($56,000) in cash prizes for the overall winners of four of the races.

“Dragon boating, with its long Asian heritage and pan-Asian appeal, is a key part of our Asian culture. This is a great opportunity for DBS to play a part in supporting the development of the international dragon boat sporting scene and broadening the spectator appeal of the sport,” said Sim Lim, country head for Singapore.

Dragon boating has grown to become a widely-recognised sport present in more than 70 countries including DBS’ six key markets in Singapore, Hong Kong, China, India, Indonesia and Taiwan.