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| DBS Bank India opens 10th branch in Salem, Tamil Nadu |
| Announcement / Corporate Jun 10, 2009, 18:03 IST |
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DBS Bank India today announced the opening of its 10th branch in Salem, the fifth largest and ‘steel city’ of Tamil Nadu. Through this branch, DBS will provide a holistic portfolio of corporate and enterprise banking services to cater to the evolving banking needs of the large number of enterprises operating in and around Salem.
Salem is home to several automotive, jewellery and textile manufacturing enterprises and DBS will offer them a comprehensive suite of financial products and services, including cash management, trade finance, treasury services, deposit products, international banking supported by best-in-class service. Experienced relationship managers with intimate knowledge of Asian market trends and strong contacts across industries will provide the SME clients in Salem with market insights and innovative financial solutions to expand their business.
In the retail banking domain, DBS offers a wide range of wealth management products to suit the myriad and ever-changing needs of discerning customers. This includes “non-resident Indian” (NRI) Services, with products tailored to suit the banking needs of clients working or living outside India, and “DBS Treasures”, an exclusive wealth management service offered to the bank’s most valued clients to help meet their financial aspirations.
Inaugurating the branch, Sanjiv Bhasin, Chief Executive Officer of DBS Bank India, said, “With the opening of our 3rd branch in South India, we are now better equipped to take care of the banking needs of our growing clientele in the region. We are committed to offering the best of financial products and services and look forward to establishing deep and mutually beneficial, long term relationships with our clients here.”
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. It has operations spanning across 16 markets, including China, Hong Kong, India, Indonesia and Taiwan. The bank holds leading positions in Corporate, Small and Medium-sized Enterprises (SME) financing, Consumer Banking, Treasury & Markets, Wealth Management, Securities Brokerage, Equity and Debt fund raising.
“DBS has deep understanding of the region, local culture and insights to partner clients as they look beyond the Indian borders in their quest for new markets and opportunities in Asia. Our key value proposition is our ability to provide Asia-specific focus to products, services and outlook,” Bhasin added.
About DBS India
DBS is the first and the largest Singapore bank in India with branches across 10 cities - Bengaluru, Chennai, Kolkata, Moradabad, Mumbai, Nashik, New Delhi, Pune, Surat and Salem. It provides innovative financial solutions to individual clients, small and medium-sized enteprises (SMEs) and a number of blue-chip corporates. With a strong Asia franchise, DBS provides a region specific focus in banking and outlook to clients. It offers retail wealth management solutions through its “DBS Treasures” proposition, and provides a wide range of enterprise banking services, including corporate lending, treasury services, transaction services and mergers and acquisitions (M&A) advisory. DBS has a staff strength of over 370 people in India and is actively involved with local communities through its association with established charitable organizations. DBS plans to roll out several new initiatives and is committed to building a universal banking franchise in India.
DBS also holds a 37.48% stake in Cholamandalam Investment and Finance Co. Ltd, a non-bank financial services firm with interests in consumer finance, asset management and securities. For more information, please visit www.dbs.com/in
About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan- Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.
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