DBS unveils 11th branch in China

The new branch is in the eastern coastal city of Qingdao.

DBS Bank (China) Limited (DBS China) officially opened a branch in the eastern coastal city of Qingdao. In conjunction with the branch opening, the bank also held a “DBS Connecting Asia” seminar for clients from all over Shandong and North China. At the seminar, participants discussed the strategic role that Qingdao plays in supporting China’s “One Belt, One Road” initiatives, and how DBS can help enterprises in their overseas expansion.

As DBS China’s first branch in the Shandong province, the Qingdao branch will provide a wide range of corporate banking services for Shandong clients, including deposit facilities, loans, trade financing, cash management and treasury market services.

Qingdao is located at the centre of two significant initiatives, namely, the Silk Road Economic Belt and 21st Century Maritime Silk Road - or the “One Belt, One Road” initiatives - to increase trade and cooperation across Europe, the Middle East, Southeast Asia and East Asia. DBS’ Qingdao branch will strongly support Shandong’s economic growth. Leveraging the bank’s deep market insights and extensive network in Asia, the branch will provide comprehensive financial services to clients going aboard, connecting them to Asia and helping them better seize market opportunities both in the Bohai coastal region and overseas.

At the opening ceremony, Peter Seah, Chairman of DBS Group Holdings said, “The opening of our first branch in Qingdao demonstrates our strong confidence and continued investments in China. We believe our Qingdao branch will provide local clients with more financing channels for their cross-border RMB business, as well as a wider range of financial services to meet their overseas expansion needs. We hope to help our clients better seize opportunities presented by China’s One Belt, One Road initiatives.”

Neil Ge, CEO of DBS China said, “Qingdao is our 11th branch and 34th banking outlet in China, and represents yet another milestone in the growth of DBS China’s franchise. With our new branch, we look forward to enhancing services for clients in Shandong and the Bohai coastal region. For example, the “Connecting Asia Seminar” we held today attracted many clients interested in hearing about our latest market insights on Asia. This is testament to the value our clients see in the proprietary insights we offer on Asia’s financial market.”