News

Financial Services

Staff Reporter

, Singapore

Published:

14 years ago

DBS interested in investing in Chinese bank

Possible investment in a mainland lender is part of DBS' aggressive expansion plan.

DBS Chairman of the Board Koh Boon Hwee said the bank is open for the investment move but has yet to decide the target.

Likewise, DBS intends to issue RMB-denominated bonds in China, executive president of DBS Bank China Ltd said. He said he expects to hold talks with Chinese regulators on this matter, according to a report in China Knowledge.

Earlier, DBS revealed plans to increase the size of its workforce in mainland China by 20 percent to 30 percent this year to further boost its presence in China. DBS filed applications with the mainland regulator to set up new branches and sub-branches.

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