DBS Bank
Encyclopedia
DBS Bank Ltd is a bank
incorporated in Singapore
. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank.
The bank was set up in 1968 as a development-financing institution led by the Singapore government. Today, its branches numbering more than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia
. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong
.
, giving it a dominant market share with over four million customers.
Temasek Holdings (Pte) Ltd
, a company wholly owned by Minister for Finance (Incorporated), is deemed interested in the 234,497,040 shares held by Maju Holdings Pte Ltd, which is a wholly owned subsidiary of Temasek Holdings (Pte) Ltd.
, Dubai
, Hong Kong
, India
, Indonesia
, Japan
, South Korea
, Malaysia, Myanmar
, Philippines
, Taiwan
, Thailand
, Vietnam
, United Kingdom
and United States
.
in 1999 by acquiring Kwong On Bank
from Leung's family & Japanese-based Fuji Bank
, and renamed it as DBS Kwong On Bank. It acquired Dao Heng Bank
(and its subsidiary Overseas Trust Bank
) in 2001. The three banks were later merged under the trading name of DBS.
, Guangzhou
, Shanghai
, Shenzhen
, Suzhou
, Fuzhou
, Hangzhou
, Tianjin
and Dongguan
. In December 2006, DBS Bank received approval from the China Banking Regulatory Commission (CBRC) to prepare for local incorporation in China. DBS is the only Singapore bank among nine foreign banks to receive this approval. In 2010, it also became the first Singapore bank to issue UnionPay debit cards in China.
.
, Bangalore
, Mumbai
, Kolhapur, Nashik, Cuddalore, Moradabad, Pune
, Salem, Surat and Delhi
. http://www.dbs.com.sg/in/offices/Pages/default.aspx DBS India had a 37.5% stake in DBS Cholamandalam Finance, a non-bank financial institution
, in April 2009, it transferred its shares to the parent company Tubes Investments of India Limited thus it terminated its shared holder agreement in Cholamandalam DBS .
for a full bank licence. IB Asia's founding shareholders include majority stakeholder DBS and 34 Middle Eastern investors from prominent families and industrial groups from Gulf Cooperation Council (GCC) countries.
attacks. The DBS iB Secure Device is a hardware device with a key fob form factor that generates a password
that is linked to the log-on name. The password changes every sixty seconds and once used is no longer valid. The institution Code for DBS is 7171.
mBanking was already soft-launched on both DBS and POSB websites on 10 April 2010 with more than 2,300 downloads.
Customers using mBanking will be protected by DBS Bank's 'money-safe' guarantee. The bank promised reimbursements if there are any unauthorised transactions.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
incorporated in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank.
The bank was set up in 1968 as a development-financing institution led by the Singapore government. Today, its branches numbering more than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
Acquisition of POSBank
In 1998, DBS Bank merged with POSBankPOSBank
POSBank is a brand of consumer banking services offered by DBS Bank in Singapore, after it was acquired by the latter in November 1998. Prior to this, it was a major public bank which began life as the Post Office Savings Bank, offering low-cost banking services to Singaporeans...
, giving it a dominant market share with over four million customers.
Shareholders
The largest shareholders as of 10 February 2006 are:- DBS Nominees Pte Ltd: 357,492,056, 23.86%
- Raffles Nominees Pte Ltd: 263,390,352, 17.58%
- Maju Holdings Pte Ltd: 234,497,040, 15.65%
- Temasek Holdings (Pte) LtdTemasek HoldingsTemasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
: 185,673,795, 12.39% - Citibank Nominees Singapore Pte Ltd: 110,584,014, 7.38%
- HSBC (Singapore) Nominees Pte Ltd: 107,052,860, 7.14%
Temasek Holdings (Pte) Ltd
Temasek Holdings
Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
, a company wholly owned by Minister for Finance (Incorporated), is deemed interested in the 234,497,040 shares held by Maju Holdings Pte Ltd, which is a wholly owned subsidiary of Temasek Holdings (Pte) Ltd.
International Operations
DBS has branches and offices in ChinaChina
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, Malaysia, Myanmar
Myanmar
Burma , officially the Republic of the Union of Myanmar , is a country in Southeast Asia. Burma is bordered by China on the northeast, Laos on the east, Thailand on the southeast, Bangladesh on the west, India on the northwest, the Bay of Bengal to the southwest, and the Andaman Sea on the south....
, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Taiwan
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
, Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
, Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
Hong Kong
DBS started its operations in Hong KongHong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
in 1999 by acquiring Kwong On Bank
Kwong On Bank
Kwong On Bank Limited was a Hong Kong-based bank. It was established in 1935 and owned by Dr. Leung Ding Bong family, the President of the former Urban Council of Hong Kong, and Japan-based Fuji Bank. It is acquired and privatized by DBS Bank and renamed as DBS Kwong On Bank Limited in 1999...
from Leung's family & Japanese-based Fuji Bank
Fuji Bank
The was one of Japan's major banks during the post-World War II era. It combined with Dai-Ichi Kangyo Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group, and changed its name to Mizuho Corporate Bank in 2002 after transferring its retail banking operations to Mizuho...
, and renamed it as DBS Kwong On Bank. It acquired Dao Heng Bank
Dao Heng Bank
Dao Heng Bank Group Limited was a bank in Hong Kong and it had two subsidiaries before acquisition, Dao Heng Bank Limited and Overseas Trust Bank Limited....
(and its subsidiary Overseas Trust Bank
Overseas Trust Bank
Overseas Trust Bank Limited was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972...
) in 2001. The three banks were later merged under the trading name of DBS.
China
DBS has 8 branches and 7 sub-branches in China. These are located across the country in BeijingBeijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, Guangzhou
Guangzhou
Guangzhou , known historically as Canton or Kwangchow, is the capital and largest city of the Guangdong province in the People's Republic of China. Located in southern China on the Pearl River, about north-northwest of Hong Kong, Guangzhou is a key national transportation hub and trading port...
, Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, Shenzhen
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
, Suzhou
Suzhou
Suzhou , previously transliterated as Su-chou, Suchow, and Soochow, is a major city located in the southeast of Jiangsu Province in Eastern China, located adjacent to Shanghai Municipality. The city is situated on the lower reaches of the Yangtze River and on the shores of Taihu Lake and is a part...
, Fuzhou
Fuzhou
Fuzhou is the capital and one of the largest cities in Fujian Province, People's Republic of China. Along with the many counties of Ningde, those of Fuzhou are considered to constitute the Mindong linguistic and cultural area....
, Hangzhou
Hangzhou
Hangzhou , formerly transliterated as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China. Governed as a sub-provincial city, and as of 2010, its entire administrative division or prefecture had a registered population of 8.7 million people...
, Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
and Dongguan
Dongguan
Dongguan is a prefecture-level city in central Guangdong province, People's Republic of China.An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to...
. In December 2006, DBS Bank received approval from the China Banking Regulatory Commission (CBRC) to prepare for local incorporation in China. DBS is the only Singapore bank among nine foreign banks to receive this approval. In 2010, it also became the first Singapore bank to issue UnionPay debit cards in China.
Taiwan
In May 2008, DBS integrated Taiwan's Bowa Bank into its operations after acquiring the "good bank assets" in February. There are 40 distribution outlets across the country, half of which are based in TaipeiTaipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...
.
India
As of Nov 2010, DBS has 12 branches in India, located at cities like ChennaiChennai
Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
, Bangalore
Bangalore
Bengaluru , formerly called Bengaluru is the capital of the Indian state of Karnataka. Bangalore is nicknamed the Garden City and was once called a pensioner's paradise. Located on the Deccan Plateau in the south-eastern part of Karnataka, Bangalore is India's third most populous city and...
, Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, Kolhapur, Nashik, Cuddalore, Moradabad, Pune
Pune
Pune , is the eighth largest metropolis in India, the second largest in the state of Maharashtra after Mumbai, and the largest city in the Western Ghats. Once the centre of power of the Maratha Empire, it is situated 560 metres above sea level on the Deccan plateau at the confluence of the Mula ...
, Salem, Surat and Delhi
Delhi
Delhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
. http://www.dbs.com.sg/in/offices/Pages/default.aspx DBS India had a 37.5% stake in DBS Cholamandalam Finance, a non-bank financial institution
Non-bank financial institution
A non-bank financial institution is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFIs facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market...
, in April 2009, it transferred its shares to the parent company Tubes Investments of India Limited thus it terminated its shared holder agreement in Cholamandalam DBS .
Indonesia
DBS has a 99%-owned subsidiary, PT Bank DBS Indonesia, with 39 branches and sub-branches in 11 cities.The Islamic Bank of Asia
DBS Bank launched The Islamic Bank of Asia (IB Asia) on May 7, 2007 after receiving official approval from the Monetary Authority of SingaporeMonetary Authority of Singapore
The Monetary Authority of Singapore is Singapore's central bank and financial regulatory authority...
for a full bank licence. IB Asia's founding shareholders include majority stakeholder DBS and 34 Middle Eastern investors from prominent families and industrial groups from Gulf Cooperation Council (GCC) countries.
DBS iB Secure Device and Internet Banking
Starting in late 2006, the bank began releasing to its Internet banking customers a Dual Factor Authentication device to assist in thwarting phishingPhishing
Phishing is a way of attempting to acquire information such as usernames, passwords, and credit card details by masquerading as a trustworthy entity in an electronic communication. Communications purporting to be from popular social web sites, auction sites, online payment processors or IT...
attacks. The DBS iB Secure Device is a hardware device with a key fob form factor that generates a password
Password
A password is a secret word or string of characters that is used for authentication, to prove identity or gain access to a resource . The password should be kept secret from those not allowed access....
that is linked to the log-on name. The password changes every sixty seconds and once used is no longer valid. The institution Code for DBS is 7171.
Mobile Banking
On 15 April 2010, DBS Bank launched mobile banking service, mBanking, to both DBS and POSB customers. It allows customers to view their banking and credit card accounts, transfer funds and pay bills via their mobile phones. Customers will need to download an application from the company website to use this servicemBanking was already soft-launched on both DBS and POSB websites on 10 April 2010 with more than 2,300 downloads.
Customers using mBanking will be protected by DBS Bank's 'money-safe' guarantee. The bank promised reimbursements if there are any unauthorised transactions.
External links
- Development Bank of Singapore (DBS) Official site
- DBS Hong Kong
- Cholamandalam DBS Official site