DBS is looking to grow outside of its home market of Singapore, with a focus on the Greater Bay Area, China’s 11-city metropolis.
Singapore-based DBS is seeking to tap growth opportunities in the Greater Bay Area, according to a «Bloomberg» report citing Hong Kong chief executive Sebastian Paredes. The bank has plans to increase investments and hiring but did not disclose any figures.
«There’s no reason not to be optimistic about the future and the long-term prospects of China,» said Paredes.
In addition to organic growth, DBS has also been seeking expansion via external investments. In February, CEO Piyush Gupta said the Singapore lender was keen to explore increasing its stake in China-based Shenzhen Rural Commercial Bank in the next few years.
