DBS Bank Receives Final Approval to Incorporate Locally in China

DBS Bank Receives Final Approval to Incorporate Locally in China

May 21, 2007

    SINGAPORE, May 21 /Xinhua-PRNewswire/ -- DBS Bank Ltd
(DBS) announced today that it has received final approval
for local incorporation from the China Banking Regulatory
Commission (CBRC).  The new entity will be named DBS Bank
(China) Limited. 
    As a local subsidiary, DBS Bank (China) Limited will be
able to offer a comprehensive suite of RMB products and
services to local residents in China, subject to regulatory
approval.  DBS expects its local subsidiary to commence
business in the coming weeks.  
    More details will be announced in due course. 

    About DBS 
    Headquartered in Singapore, DBS is one of the largest
financial services groups in Asia with operations in 15
markets. The largest bank in Singapore as measured by
assets, and a leading bank in Hong Kong, DBS'
"AA-" and "Aa1" credit ratings are
among the highest in the Asia-Pacific region.  DBS has
leading positions in consumer banking, treasury and
markets, asset management, securities brokerage, equity and
debt fund raising.  Beyond the anchor markets of Singapore
and Hong Kong, DBS serves corporate, institutional and
retail customers through its operations in China, India,
Indonesia, Malaysia, Thailand and The Philippines. 

    About DBS China
    DBS first established its presence in China with a
representative office in Beijing in 1994.  In 1995, DBS
Shanghai Branch was one of the first 10 foregin banks to
obtain a Renminbi licence when the licences were issued in
1998.  
    Today, DBS has branches in Beijing, Shanghai, Suzhou,
Shenzhen and Guangzhou and representative offices in
Dongguan, Hangzhou, Fuzhou and Tianjin.  Prior to the local
incorporation in China, DBS branches have all the permitted
licences available to foreign banks in China, and service
corporate and institutional clients with a full range of
corporate and investment banking services.
    In 2005, DBS officially launched its consumer banking
business in Shenzhen, followed by the opening of a
sub-branch in Shanghai in May 2006. 
    More information about DBS Group Holdings and DBS Bank
can be obtained from our website http://www.dbs.com . 






    For more information, please contact:

     Eunice Woo
     Vice President
     Group Strategic Marketing & Communications
     DBS Bank
     Tel:    [phone]
     Mobile: [phone]
     Email:  [e-mail]

     Vicki Soh
     Assistant Vice President
     Group Strategic Marketing & Communications
     DBS Bank
     Tel:    [phone]
     Mobile: [phone]
     Email:  [e-mail]