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Corporates and the affluent targeted by DBS Hong Kong

Corporates and the affluent targeted by DBS Hong Kong

(20 March 2013 – Hong Kong) DBS Bank is aiming to increase offshore renminbi loan books in Hong Kong by 10 percent. Its Hong Kong branch now derives about 17 percent of its revenue from renminbi-related business.

DBS Hong Kong chief executive, 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 percent 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.
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