DBS clinches regulator's nod to operate in Australia

Its first branch will open this month.

DBS has received regulatory approval to operate in Australia, expanding its presence to 18 markets around the world.

The licence allows DBS to conduct institutional banking activities. DBS said that it will support Australian companies looking to expand in Asia, as well as assist Asian and international companies looking to expand in Australia.

The bank’s first branch, in Sydney, will commence operations later this month and is headed by DBS Australia Country Head Helen Yap.

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