DBS

DBS: DBS has relocated its Taiwan headquarters to Taiwan’s financial district Shin Kong Xinyi Financial Center as an indication of its commitment of building its presence there. It is expected that DBS Taiwan which has approx 40 branches will be locally incorporated by Sep 2011, providing consumer, corporate and wealth management services. DBS plans to increase the capital in DBS Taiwan to NTD22b from NTD7b this year…

… DBS Taiwan reported pre-tax profits of NTD317m in 2009 and as at end of July 2010, pre-tax profit was already at NTD421m. Mr Piyush Gupta has also expressed interest in acquiring stakes in Indonesia banks to boost DBS’s presence in SEA. He remarked that DBS would not acquire any Chinese banks until regulations change and allow for majority stakes. 1 SGD: 23.7 Taiwan Dollar approx as of today.