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The First Singapore-funded Bank Opens in Suzhou

DBS Suzhou Branch held an opening ceremony in SIP on May 31. Among the 100 guests of honor present at the ceremony were: Wang Jinhua, Deputy Secretary of CPC Suzhou Municipal Committee and Secretary of SIP Party Working Committee, Cao Fuxing, Member of Standing Committee of CPC Suzhou Municipal Committee and Executive Vice Mayor of Suzhou, Ma Minglong, Director of Sipac, Mr Koh Boon Hwee, Chairman of DBS Group Holdings Limited, Mr Frank Wong, Vice Chairman of DBS Bank Ltd and Chief Operating Officer, Ms Cindy Wee, Vice Consul General, Singapore Consulate-General in Shanghai, leaders of Jiangsu Provincial Banking Supervisory Bureau, Suzhou Municipal Banking Supervisory Bureau, Suzhou Central Branch of the People’s Bank of China, corporate customers, and relevant departments of Sipac, etc.

DBS was established in 1968, and it is now the largest banking corporation in Singapore, as well as the largest banking group in southeast Asia, with remarkable achievements in  businesses of retail banking, asset market, asset management, investment, and securities. Its business network covers Europe, America, and Asia with over 5 million clients.

DBS Suzhou Branch, the fifth branch of DBS in China, is located at 7th floor of International Building, SIP. The entry of DBS in SIP not only signifies the result of China-Singapore cooperation for the past 12 years, but also opens up a bright prospect for business opportunities in the fast-growing economy of the Yangtze delta region.

June 1, 2006

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