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In December 2006, DBS Bank received approval from the China Banking Regulatory Commission (CBRC) to prepare for local incorporation in Mainland China. DBS is the only Singapore bank among nine foreign banks to receive this approval. In 2010, it also became the first Singapore bank to issue UnionPay debit cards in mainland China.
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The integration bolstered DBS’ private banking business in Hong Kong and North Asia. [6] On September 11, 2017, DBS Bank Ltd (DBS) successfully completed the acquisition of Australia and New Zealand Banking Group's retail and wealth business in Hong Kong. [7] On 2 February 2024, DBS Bank (Hong Kong) Limited announced the opening of its new ...
The Islamic Bank of Asia (IB Asia) was launched by DBS Bank on 7 May 2007 after receiving official approval from the Monetary Authority of Singapore for a full bank licence. IB Asia's founding shareholders include majority stakeholder DBS and 34 Middle Eastern investors from prominent families and industrial groups from Gulf Cooperation Council ...
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NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
Established on 1 January 1877 as the Post Office Savings Bank (Chinese: 郵政儲蓄銀行; pinyin: Yóuzhèngchǔxù Yínháng), [2] POSB currently operates as part of DBS Bank after being acquired on 16 November 1998.