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Suzhou Branch of DBS Bank Approved by China Banking Supervisory Commission

DBS Bank obtained approval in March 2006 from China Banking Supervisory Commission to establish a branch in Suzhou, with the official name "Suzhou Branch of DBS Bank (Hong Kong) Co., Ltd." The approved business is mainly foreign exchange services, including accepting public loans, issuing short, middle, and long-term loans, cashing bills, government bonds transaction, financial bonds, transaction of securities with the exception of stocks, LC service and loan guarantee scheme, domestic account settlement, foreign exchange transaction, loan arrangement through banking institutions, bank card service, safety box service, credit rating investigation and inquiry, and other services approved by the Commission. Suzhou Branch of DBS Bank is located at 7/F, International Building, and its operating capital is 100 billion yuan RMB (approximately 2.49 million US dollars).

DBS Bank headquartered in Singapore is the largest financial services group in Asia, with 14 branches and 5 million customers. It is the largest bank in Singapore in terms of assets, and the fifth largest in Hong Kong, known for its outstanding performance in retail banking, asset market, asset management, security, stock, and bond fund raising market. Presently, DBS Bank has set up branches in Beijing, Guangzhou, Shanghai, and Shenzhen, and offices in Dongguan, Tianjin, and Hangzhou.

Apr. 10, 2006
   

   
 
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