DBS Bank opens branch in Salem

SALEM: DBS Bank, India, one of the largest financial groups in Asia, has entered the Salem market by inaugurating its branch, the 10th in the country and second in Tamil Nadu, here on Wednesday.

Economy

After opening the branch, its Chief Executive Officer, Sanjay Bhasin, told ‘The Hindu’ that a sustained economy and growing number of higher education institutions in Salem and its surrounding districts had prompted the Singapore based corporate banking group to open its branch in Salem, the second after Chennai in Tamil Nadu and the 3rd in southern India.

“We have been planning some more units in other centres in Tamil Nadu,” he further said.

Mr. Bhasin pointed out that the bank would provide a holistic portfolio of corporate and enterprise banking services to cater to the evolving banking needs of various enterprises, operating in Salem and its surrounding districts. In the retail sector, DBS was offering a wide range of wealth management products to suit all, which included services for non-resident Indians and ‘DBS treasures,’ an exclusive wealth management service for its valued customers.

Ability

“We are committed to offering the best financial products and services and look forward to establishing deep and mutually beneficial relationships with our clients here.

Our key value proposition is our ability to provide Asia-specific focus to products, services and outlook,” he further added.

DBS is the first Singapore- based bank in India, having primary operations in Singapore and Hong Kong which contributed 65 and 19 per cent of net profits respectively in 2008.

Senior officials participated in the function.