Singaporean bank DBS to open representative office in Dhaka
Singaporean bank DBS today announced that it will be expanding its regional footprint with the establishment of a representative office in Dhaka.
With this, the bank now has international presence in 19 markets globally, the bank said in a statement.
DBS has been active in Bangladesh providing trade finance and advisory, in addition to arranging mandates in project investments, according to the statement.
The establishment of DBS Dhaka will provide further impetus to the bank's activities and greater market connectivity for DBS' customers globally, it said.
The bank has appointed Tahsina Banu as chief representative of DBS Dhaka.
A seasoned banker with more than 20 years of experience working in global banks in Bangladesh and the Middle East, Banu's banking experience spans business and support functions including wholesale banking, trade operations and risk management.
Tan Su Shan, DBS Group head of institutional banking, said: "As Singapore celebrates its 50th anniversary of establishing bilateral relationships with Bangladesh this year, it is an opportune time for DBS to invest in this rapidly growing market to build on the strength of our institutional and transaction banking franchise."
"In recent years, due to Bangladesh's strategic location, it has emerged as a strategic gateway and priority market for our clients who are tapping into intra-regional trade opportunities in South Asia and beyond. Our representative office is part of our commitment to support our clients in their expansion plans in this region."
DBS has been accorded the Safest Bank in Asia award by Global Finance for 14 consecutive years from 2009 to 2022.
In addition, DBS was also recently named World's Best Bank by US-based financial publication Global Finance in August, making it the third time that the bank has clinched the magazine's top accolade since 2018.
This is also the bank's seventh global best bank win within the last five years, reinforcing the bank's position as an industry leader and a forward-looking institution shaping the future of banking.
DBS is a leading financial services group in Asia with a presence in 19 markets.
Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia.
The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
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