DBS sees expansion in China to continue
By Zhang Fengming |
February 7, 2012, Tuesday
|
Print Edition
Print Edition
SINGAPORE'S DBS will grow its business in China, including recruiting more staff on the Chinese mainland, as it seeks to further tap the rising cross-Strait business, senior bankers said yesterday.
The bank, Southeast Asia's largest lender, does not intend to cut staff in Hong Kong and Taiwan. It will hire hundreds of people on the mainland each year as well as seeking to open 10 new outlets annually to support its expansion.
As part of the bank's ''multi-local'' strategy it opened a Taiwan subsidiary yesterday to take advantage of rising cross-Strait trade.
''It marks a very important milestone for us,'' said Piyush Gupta, chief executive officer of DBS Group Holdings and DBS Bank Ltd. ''It further shows our multi-local strategy to put roots in each of our strategic markets with integration across Asia.''
The Taipei-based subsidiary underlines the bank's commitment to tap the increasing business, trade and investment flows between the mainland, Hong Kong and Taiwan, it said.
The bank, Southeast Asia's largest lender, does not intend to cut staff in Hong Kong and Taiwan. It will hire hundreds of people on the mainland each year as well as seeking to open 10 new outlets annually to support its expansion.
As part of the bank's ''multi-local'' strategy it opened a Taiwan subsidiary yesterday to take advantage of rising cross-Strait trade.
''It marks a very important milestone for us,'' said Piyush Gupta, chief executive officer of DBS Group Holdings and DBS Bank Ltd. ''It further shows our multi-local strategy to put roots in each of our strategic markets with integration across Asia.''
The Taipei-based subsidiary underlines the bank's commitment to tap the increasing business, trade and investment flows between the mainland, Hong Kong and Taiwan, it said.
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