DBS Bank China All Set to Commence Business

DBS Bank China All Set to Commence Business

May 25, 2007

Presence and Staff Force to be Enlarged Over Next 5 Years


    SINGAPORE, May 25 /Xinhua-PRNewswire/ -- DBS Bank Ltd
(DBS) announced today that its local subsidiary in China,
DBS Bank (China) Limited (DBS Bank China), will commence
business on Monday, 28 May 2007, a week after it received
final approval to incorporate locally from the China
Banking Regulatory Commission (CBRC).  

    A fully-owned subsidiary of DBS and headquartered in
Shanghai, DBS Bank China was incorporated yesterday with a
registered capital of RMB4 billion (USD523 million).  DBS
is one of the first few foreign banks, and the first
Singapore bank, to incorporate in China.

    "We are a bank that is born and bred in Asia.  Our
new status as a locally incorporated bank in China extends
DBS' ambition to be an Asia banking specialist and enables
us to better serve our customers in and outside China. 
Through DBS Bank China, we hope to share DBS' diversity,
corporate governance and risk management capabilities. 
These elements underpin our "AA-" and "Aa1
" credit ratings which are among the highest in
Asia", said Jackson Tai, Vice Chairman and CEO of DBS
Group Holdings and Supervisor of DBS Bank China.

    Frank Wong, Vice Chairman of DBS Bank and Chairman of
DBS Bank (Hong Kong) Limited, has been appointed Chairman
of DBS Bank China.  He said: "Today marks a new
milestone for DBS in China.  We would like to express our
heartfelt appreciation to the CBRC and other regulators for
their support.  The establishment of DBS Bank China
underscores our long-term commitment to this market.  We
are confident that with our Asia banking expertise and
local insights, DBS Bank China is well placed to meet the
banking needs of companies as well as individuals." 

    Teresa Lin, DBS' Managing Director and Joint Group Head
of Corporate & Investment Banking, a veteran banker with
over 30 years' experience, will also assume the role of Vice
Chairman and CEO, DBS Bank China.  Lin joined DBS in 2001
and has been instrumental in growing DBS' corporate and
enterprise banking business across Asia.  

    The inaugural board meeting of DBS Bank China will be
held later today.  The board will be chaired by Frank Wong
and the other directors are:

    -- Mr. John Alan Ross, former Corporate Chief Operating
Officer of the 
       Deutsche Bank Group, and a board member of DBS Group
Holdings 
    -- Mr. Christopher Cheng, Chairman of USI Holdings
Limited, and a board 
       member of DBS Bank (Hong Kong) Limited
    -- Prof. Lu Xiongwen, Dean of the School of Management
of Shanghai Fudan 
       University
    -- Mrs. Teresa Lin, Vice Chairman and CEO, DBS Bank
China
    -- Mr. Jethro Lau, Deputy CEO, DBS Bank China
    -- Mr. Andy So, Head of Risk Management - Greater
China, DBS Bank 
       (Hong Kong) Limited

    DBS Bank China will strengthen its presence in Mega
Beijing cluster, Yangtze River Delta, Fu-Xia Cluster and
the Pearl River Delta over the next few years.  It will
expand its existing branch network in Shanghai, Suzhou,
Beijing, Shenzhen and Guangzhou into an integrated branch
network that offers enterprise banking, corporate banking,
investment banking and consumer banking services.  The bank
also intends to upgrade its representative offices to
branches as soon as possible, subject to regulatory
approval.    

    Lin said: "At DBS, we recognise that banking is a
people business.  To offer quality service to our
customers, we plan a five-fold increase in staff strength
to 2,000 over the next five years.  We will continue to
invest aggressively in staff training programmes so that
our customers in China can count on our expertise,
professionalism and efficiency when banking with
DBS."

    "We will adopt a holistic approach to meeting and
responding to customer needs.  We will complement our
brick-and-mortar touch points with phone banking, internet
banking and customer service centres.  In addition, we will
develop strategic alliances to bring our partners' resources
to our customers", added Lin.

    DBS will leverage its Asia banking expertise and
experience in corporate banking, consumer banking and
wealth management to meet the increasingly sophisticated
financial needs of customers in China.  Upon approval from
the regulators, DBS Bank China plans to roll out a
comprehensive range of RMB services. 

    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 1993.  In 2005, DBS
officially launched its consumer banking business in
Shenzhen, followed by the opening of a sub-branch in
Shanghai in May 2006. 

    Today, DBS has branches in Beijing, Shanghai, Suzhou,
Shenzhen and Guangzhou and representative offices in
Dongguan, Hangzhou, Fuzhou and Tianjin.  

    More information on DBS can be obtained from
http://www.dbs.com . 


    For more information, please contact:

    Karen Ngui 
     Managing Director & Head
     Group Strategic Marketing & Communications
     DBS Bank
     Tel:   [phone]
     Email: [e-mail]

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