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DBS China to increase hiring by 25% this year
February 14, 2012, Tuesday
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DBS China, a subsidiary of Singaporean-based DBS Bank, plans to increase hiring by 25 percent this year after their profit doubled in 2011.
The bank will add 400 more staff in China this year to bring the total staff number to 2,000 as they continue expansion in China, said DBS China Chief Executive Officer Melvin Teo.
The majority of new staff will go to personal banking, and one third will go to corporate banking, he said.
Last year DBS China added 42 percent to its staff complement.
"Confident about the market in China, the DBS group will allocate more resources to support business growth in China," he said.
DBS China's revenues in 2011 increased 65 percent year on year to 1.9 billion yuan (US$300 million), making China the third largest contributor to group revenues after Singapore and Hong Kong, according to DBS China, which was incorporated in China in 2007.
DBS CEO Piyush Gupta said Greater China, including the Chinese mainland, Hong Kong and Taiwan, accounted for 29 percent of group total revenues last year.
"We expect the contribution of Greater China to group revenues will grow to 33 percent in the next few years," he said.
The bank will add 400 more staff in China this year to bring the total staff number to 2,000 as they continue expansion in China, said DBS China Chief Executive Officer Melvin Teo.
The majority of new staff will go to personal banking, and one third will go to corporate banking, he said.
Last year DBS China added 42 percent to its staff complement.
"Confident about the market in China, the DBS group will allocate more resources to support business growth in China," he said.
DBS China's revenues in 2011 increased 65 percent year on year to 1.9 billion yuan (US$300 million), making China the third largest contributor to group revenues after Singapore and Hong Kong, according to DBS China, which was incorporated in China in 2007.
DBS CEO Piyush Gupta said Greater China, including the Chinese mainland, Hong Kong and Taiwan, accounted for 29 percent of group total revenues last year.
"We expect the contribution of Greater China to group revenues will grow to 33 percent in the next few years," he said.
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