DBS takes aim at intra-Asian fund flows

It aims to increase offshore renminbi loan books in Hong Kong by 10%.

DBS plans to increase its offshore renminbi loan books in Hong Kong by 10%. Its Hong Kong branch, DBS Bank (Hong Kong) Ltd, derives about 17% of its revenue from renminbi-related business.

DBS Hong Kong CEO Sebastian Paredes said the Hong Kong presence allows it to capture China’s international flows. He said China allows DBS China, DBS Hong Kong and Singapore as well as Taiwan to capture these inter-Asian and global flows coming in and out of China.

The bank is also improving its cross-border corporate banking business. Its pool of China state-owned enterprise and private-owned enterprise customers has increased by 35% compared to a year ago.

Apart from corporates, DBS Hong Kong is also targeting more affluent customers that have at least a million Hong Kong dollars in their accounts.