DBS has expanded its global presence in a brand new market with the opening of a representative office in Bangladesh.
DBS has opened a representative office in Dhaka, the capital of Bangladesh, according to a statement. Tahsina Banu has been appointed as the chief representative of the new office, DBS Dhaka.
Banu has 20 years of experience working at global banks in Bangladesh and the Middle East across wholesale banking, trade operations and risk management.
Together with the new office, DBS’s international presence now totals 19 markets worldwide.
Bangladeshi Trade
With the new office, DBS hopes to further capitalize on trade ties between Bangladesh and other countries such as Singapore, which is its third largest import partner in 2021 at around $2.4 billion. And in the medium-term, Bangladesh will also have significant investment requirements in energy and infrastructure with partners most likely coming from North Asia and India.
DBS is already active in Bangladesh with services provided in trade finance and advisory as well as arrangement of mandates in project investments. The new office is intended to provide «further impetus to the bank’s activities and greater market connectivity for DBS’ customers globally».
«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,» said DBS group head of institutional banking Tan Su Shan. «Our representative office is part of our commitment to support our clients in their expansion plans in this region.»
