Singapore’s largest commercial bank: DBS Group Holdings Ltd (DBSDY) (1968 – )

DBS Group Holdings Ltd (OTC PINK: DBSDY, DBSDF) was established in 1968, formerly known as the Development Bank of Singapore (Development Bank of Singapore, or Singapore Development Bank), headquartered in Singapore, With 28,984 full-time employees, it is a bank holding company that provides financial products and services in Singapore, Hong Kong, other parts of the Greater China region, South and Southeast Asia, and internationally. It is Singapore’s largest commercial bank and its largest controlling shareholder is Temasek Holdings Limited Company .

DBS Group Holdings

DBS Group Holdings Ltd (DBSDY):

DBS Group Holdings Limited operates as a bank holding company through its major subsidiaries DBS Bank Limited (SGX: D05), DBS Bank (Hong Kong), DBS Vickers Securities (Singapore), etc., and is the largest in Singapore The commercial bank in China has won the title of “Asia’s Safest Bank” by “Global Finance” magazine.

DBS Bank’s current largest controlling shareholder is Temasek Holdings Ltd. Temasek Holdings is Singapore’s second largest sovereign wealth fund (after government investment companies). As of March 31, 2018, Temasek owns 29% of DBS Bank.

DBS is divided into 4 departments to operate: Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets and Others.

  • Consumer Banking/Wealth Management Department: Provide banking and related financial services to individual customers, including current and savings accounts, time deposits, loans and household finance, cards, payments, investment and insurance products.
  • Institutional Banking Sector: Provide financial services and products for banks and non-bank financial institutions, government-related companies, large companies and small and medium-sized enterprises. Its products and services include short-term working capital financing and specialized loans; cash management, trade financing, and securities and trust services; treasury and market products; as well as corporate financing and consulting banking business and capital market solutions.
  • Treasury Market Department: Participate in the structure, market making and trading of a series of treasury products.
  • Others: Provide Islamic banking services.

DBS Bank currently has more than 100 branches in Singapore, in the United States, the United Kingdom, Japan, Taiwan, India, Malaysia, Myanmar, Mainland China, Hong Kong (including direct branches and subsidiaries), Macau, South Korea and Thailand Both have branches.

DBS Group Holdings Ltd (DBSDY) History:

1. Singapore

  • In 1968, the Singapore Development Bank was founded, referred to as DBS Bank, whose initial purpose was to develop investment projects.
  • In 1998, DBS Bank merged with Postal Savings Bank of Singapore (POSBank), which monopolized Singapore’s more than 4 million bank customers.
  • In November 2000, DBS Development Land, a real estate developer under DBS Bank, separated from DBS and merged with Baiteng Land, which was spun off from Shinco Holdings, into CapitaLand, a wholly-owned subsidiary of Temasek Holdings (later changed to CapitaLand) .
  • On December 22, 2008, DBS Group raised S$4 billion (approximately HK$21.4 billion at the time) through a rights issue of S$5.42 (approximately HK$29) per share for every two rights.
  • On November 11, 2013, DBS sold the remaining 9.9% of the Bank of the Philippine Islands (Bank of the Philippine Islands) stake for 850 million Singapore dollars (nearly 681 million US dollars). The 5.6% stake will be sold to Singapore Government Investment Corporation (GIC). In addition, 4.3% of the shares will be sold to Ayala Corp of the Philippines. Ayala itself is the largest shareholder of Philippine Islands Bank.
  • On March 17, 2014, DBS Group acquired Societe Generale’s private banking business in Hong Kong and Singapore, as well as part of its trust business, for US$220 million.
  • On April 8, 2015, DBS Group and Manulife Financial (945) reached a 15-year bancassurance agreement. Manulife must pay US$1.2 billion (approximately HK$9.3 billion) in installments. The agreement lists nearly 200 branches in Hong Kong, Singapore, China and Indonesia under the Star Show, and will exclusively sell Manulife Life products in the coming year.
  • On October 31, 2016, DBS Group acquired the personal financial and financial services of the five markets of the Republic of China, Singapore, Hong Kong, People’s Republic of China, and Indonesia for the A.S. Bank for 110 million Singapore dollars (about 613 million Hong Kong dollars) higher than the book value. Wealth management business. This acquisition, the sale of retail and private banking businesses in 5 markets, including a total of 11 billion Australian dollars (about 64.79 billion Hong Kong dollars) in loans and total assets, about 7 billion Australian dollars in credit risk-weighted assets and about 17 billion Australian dollars in deposits, this year The business made a profit of 50 million Australian dollars. Aosheng Bank currently serves nearly 1.3 million customers, including 100,000 wealth management and private banking customers and 1.2 million personal financial customers.
  • On November 9, 2016, the Asia Pacific (including Taiwan) consumer finance business and credit card departments of Aussen Bank will be transferred to DBS Bank, and its main body will be transferred to Australia and Europe and the United States.

2. Overseas business

2.1 Indonesia

On April 1, 2012, DBS Group spent 9.1 billion Singapore dollars (approximately US$7.3 billion) (approximately HK$56.16 billion) to acquire PT Bank Danamon (PT Bank Danamon). DBS acquired Fullerton Gold, a wholly-owned subsidiary of Temasek Holdings. Holdings acquired a 67.4% stake in Indonesia Financial Bank for approximately S$6.2 billion (US$4.9 billion). DBS Group will issue 439 million new shares to Fullerton Financial Holdings at a price of S$14.07 per share in exchange for this part of the equity. Temasek Holdings currently holds 29.7% of the shares in DBS Group. After the completion of the above transaction, its shareholding ratio will further increase to 40.4%.

After completing the acquisition of 67.4% of the Indonesian financial bank, DBS also plans to issue a mandatory cash acquisition proposal for a total of 2.9 billion Singapore dollars to obtain the remaining shares of the Indonesian financial bank that it does not yet hold. Indonesia Financial Bank has 3,000 branches and 6 million customers in Indonesia.

On July 31, 2013, DBS Group announced that it would give up its US$6.5 billion acquisition of Indonesian Financial Bank, mainly because it failed to obtain regulatory approval to obtain a controlling stake in the bank.

2.2 Hong Kong

DBS Bank (Hong Kong) Co., Ltd. is a subsidiary of Singapore’s DBS Bank and belongs to the seventh largest registered bank in Hong Kong. It is formed by the merger of Guangan Bank, Dao Heng Bank and Overseas Trust Bank under Dao Heng Bank Group. Headquartered in the center of Central, it has won the RMB Business Excellence Award.

The current book value of DBS Hong Kong is approximately 47.8 billion yuan. As of June 30, 2019, total assets were 455.77 billion Hong Kong dollars, total customer loans were 155 billion Hong Kong dollars, and customer deposits were 362 billion Hong Kong dollars.

  • In December 1998, the former Singapore Development Bank acquired Guangan Bank from Fuji Bank (the predecessor of the foreign-managed Mizuho Industrial Bank) and the Liang Jiyi family, and changed its name to “DBS Guangan Bank”.
  • In 2000, DBS began an active expansion plan. In April 2001, it acquired Hong Kong’s Dao Heng Bank Group from Hong Leong Group’s Hong Kong Guoco Group, including its Dao Heng Bank and Overseas Trust Bank. Then on July 21, 2003, the above three banks were merged and reorganized. After the merger, the new bank was renamed DBS Bank (Hong Kong) Co., Ltd., becoming the seventh largest bank in Hong Kong, second only to HSBC and Bank of China ( Hong Kong), Hang Seng Bank , Standard Chartered Bank (Hong Kong), Bank of East Asia and ICBC (Asia).

2.3 Taiwan

  • On February 2, 2008, the Baohua Commercial Bank (the former Pan-Asian Bank was renamed in 2004) under the Chiayi Nice Enterprise had a financial crisis. DBS Group officially took over the Baohua Commercial Bank for restructuring (Financial Reconstruction Fund paid NT$445 Billion). Baohua Commercial Bank changed its name to DBS (Taiwan) Bank in May 2008 and became a foreign bank.
  • On October 31, 2016, DBS Bank announced that it would acquire Aosheng Bank in Taiwan, Singapore, Hong Kong, the People’s Republic of China, Indonesia, etc. at a price of approximately 110 million yuan higher than book value, equivalent to approximately NT$2.4 billion. Personal finance and wealth management business in 5 major markets.
  • On December 9, 2017, DBS Bank (Taiwan) officially took over the consumer finance business of Australia Sheng Bank (Taiwan).

2.4 Mainland China

DBS Bank (China) Co., Ltd. (DBS Bank (China) or DBS China; English: DBS Bank (China) Limited) is a foreign bank registered in Shanghai in China. DBS China’s shareholder is Singapore DBS Bank Ltd. It is the first Singaporean bank and one of the first foreign banks to establish a wholly-owned corporate bank in China.

  • DBS Bank entered the Chinese mainland market in 1993 and established its first China office in Beijing.
  • In 1995, the Shanghai branch was established and in 1998 became one of the first foreign banks approved to operate RMB business.
  • In 2005, DBS China Shenzhen Branch launched personal banking services. This was the first time that DBS Bank launched personal banking services in Mainland China.
  • In May 2007, DBS Bank (China) Co., Ltd. officially opened with the approval of the China Banking Regulatory Commission and was registered in Shanghai.
  • In July 2009, DBS China launched a RMB debit card, becoming the first Singapore bank to issue a card in China.
  • In February 2010, the DBS Bank Tower was completed in Lujiazui, Shanghai. It was the first building named after DBS in China.
  • After the establishment of the China (Shanghai) Pilot Free Trade Zone on September 29, 2013, DBS China became the first batch of foreign banks in China approved to enter the Shanghai Free Trade Zone.
  • As of 2016, DBS China has 12 branches and 23 sub-branches in Shanghai, Beijing, Shenzhen, Guangzhou, Suzhou, Tianjin, Nanning, Xi’an, Qingdao, Dongguan, Hangzhou and Chongqing.

DBS Group Holdings Ltd (DBSDY) investment:

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