DBS unveils maiden branch in Australia

It’s now present in 18 markets.

DBS has officially launched operations in Australia with the formal opening of its first branch in Sydney.

DBS received regulatory approval in June this year to conduct institutional banking activities, such as corporate finance, trade finance, cash management and treasury solutions, out of its Sydney branch.

The bank aims to better facilitate business and investment flows between Australia and Asia with the opening of its new branch.

Prior to setting up a physical presence in Australia, DBS covered the region out of its Singapore office, banking blue-chip Asian and Australian corporates as well as financing many infrastructure transactions including various Public-Private Partnership projects.

“Eight of Australia’s 12 largest trading partners are within Asia, reflecting Australia’s strategic location and increased economic participation with its Asian partners. With our growing footprint in Greater China, Southeast Asia and South Asia, we are better able to connect clients in Australia with Asia and vice-versa,” said DBS Chief Executive Officer Piyush Gupta.