DBS

First POSB ATM IN 1979

iBanking

Since its launch in August 1997, DBS Internet Banking (iBanking) remains the most popular online banking service in Singapore. Its customer base has been growing steadily with about 100,000 new users every year since 2000. More than 50 per cent of the users transact over iBanking at least once every month, compared to the industry average of 35 per cent.

mBanking

On 15 April 2010, DBS Bank launched mobile banking service, mBanking, to both DBS and POSB customers. It allows customers to view their banking and credit card accounts, transfer funds and pay bills via their mobile phones. Customers will need to download an application from the google play store or iTunes app store by searching DBS mBanking or POSB mBanking to use the service.

DBS Paylah!

DBS launches mobile wallet PayLah!616 words2 June 2014The Asian BankerASABNKEnglish(c) 2014 TAB INTERNATIONAL PTE LTD

SINGAPORE – DBS opens up new possibilities for mobile payment with the launch of its mobile wallet DBS PayLah!. The wallet comes in a form of a mobile application (app), which allows DBS/POSB customers to send and receive funds instantly outside of the internet banking environment.

DBS PayLah! is the lastest milestone in the bank’s mobile payment journey and is designed to drive greater payment usage. As a mobile wallet with a higher daily limit of SGD 999, PayLah also allows for greater flexibility in payment usage. For instance, it can be used to pay the helper’s salary, give children pocket money and to pay for purchases with sole proprietorships such as blog shops or taxi rides.

While smart phone penetration is high in Singapore at 87%[1], consumers have been slow to adopt mobile payment. Some of the key challenges for mobile payment include concerns around security, privacy and convenience[2].

These concerns were little changed from 2011 when DBS launched its mobile banking application – mBanking. To encourage adoption of mobile banking then, the bank focused on creating a seamless and intuitive mobile experience. DBS also extended its Money Safe Guarantee to mBanking users to bolster confidence in the channel.

To lower resistance to new technology, mBanking initially provided access to only the most popular transactions – account summary, funds transfer and bill

payments. Other features such as investment services, card activation and Q Cams were introduced in phases after consumers become more familar with mobile banking. As a result, DBS today has the largest mobile banking user base in Singapore with over 800,000 mBanking users.

mBanking remains one of the key elements of DBS’ mobile payment ecosystem. Since 2011, the number of funds transfer conducted via mBanking has grown by more than 270% to 7.4 million transactions last year. DBS PayLah! will contribute to this growth by making peer to peer payment easier.

Mr Louis Foo, Senior Vice President of Consumer Banking Group eBusiness, DBS Bank Singapore, said, “Mobile payment is on an upward trajectory. While our customers have become increasingly tech savvy, mobile wallets remain a new frontier in the Singapore’s payment landscape. Hence, it is important to address customers’ concerns while providing a mobile payment experience that is seamless and intuitive. Innovation in this space especially needs to add genuine value to the user’s experience.”

Out of the over one million online transactions handled by DBS daily, more than 30% are mobile transactions, largely driven by consumers. To encourage merchant adoption of mobile payment, DBS is currently piloting ‘MobilePay’, a Point-of-Sale mobile app that allows merchants to accept payments on the go.

DBS mBanking, PayLah! and MobilePay form a mobile payment ecosystem that will help to reduce the reliance on cash in Singapore and further entrench the nation as a key financial hub.

Said Foo, “We have received more than 5000 sign ups for DBS PayLah! within a week of making the app available. This signals consumers’ readiness to adopt mobile payment. With more than 4.4 million customers in Singapore, most consumers would have a DBS/POSB account and would be able to use PayLah!. Having a critical mass is important to drive awareness and usage of mobile payment.”

DBS PayLah! can be downloaded for free from Google Play Store or iTunes App Store. One needs to have a DBS/POSB Savings/Current account, iBanking and a smartphone in order to use the app. The iBanking token is required for the first time top-up only. For more information on DBS PayLah!, please visit: http://www.dbs.com.sg/personal/payments/dbs-paylah.

Re-disseminated by The Asian Banker

DBS & POSB merger

DBS Bank, POSBank to merge.By Tan Li Eng.

758 words25 July 1998Straits TimesSTIMESEnglish(c) 1998 Singapore Press Holdings Limited

THE man-in-the street's bank for 26 years, POSBank, is merging with commercial bank DBS to create the 65th biggest bank in the world.

Under the deal - the most significant banking merger in Singapore's history - DBS Bank will acquire statutory board POSBank for S$1.6 billion, a premium of 37 per cent over the net tangible asset value of S$1.164 billion.

The much-speculated marriage of the two institutions will result in a combined asset base of S$93 billion and shareholders' funds of S$9.4 billion.

It cements Government-linked DBS' position as the largest bank in the Republic and in South-east Asia and is a step further in boosting its vision of becoming a regional bank with a global reach.

Finance Minister Dr Richard Hu said in announcing the merger yesterday: "This move is in line with the Government's policy of encouraging local banks to merge and consolidating their operations in order to develop into sizeable banks to compete internationally."

This was coupled with the need for POSBank, with which almost all of Singapore's adult workers have savings accounts, to better service increasingly sophisticated customers and depositors, he added.

On the flip side, account holders with the national savings institution will lose privileges such as the tax-exempt status on their deposits. And Credit POSB home-loan borrowers will eventually have to fork out more for their at-present cheap mortgages to bring them in line with commercial bank rates.

However, POSBank depositors can look forward to higher interest rates on their savings eventually.

Dr Hu reassured: "The Government recognises that the impact of its privatisation (of POSBank) on Singaporeans will be significant. Those changes that will have a major impact on Singaporeans will have to be phased in gradually, but this will be done in a manner which makes commercial sense for DBS Bank."

Children, students below 21 years old and fulltime National Servicemen will continue to enjoy free basic savings account services to continue POSBank's mission of encouraging savings.

The deal is expected to be consummated - pending approval by DBS shareholders and a Bill to be passed by Parliament for the dissolution of POSBank - in November. Until then, both institutions will still service their customers separately.

Besides taking over POSBank's total deposits and assets and loans of mortgage arm Credit POSB, under the deal DBS will now have a combined network of 173 branches and 951 ATMs.

POSBank will operate as a division of DBS. Dr Hu and DBS Bank chairman S. Dhanabalan said no job losses would result from the creation of a 7,000-strong workforce. However, Mr Dhanabalan emphasised this assumed the economy stayed on an even keel.

DBS' acquisition will take the form of non-voting convertible preference shares, representing about 22 per cent of the existing issued share capital of DBS, or about 18 per cent of the enlarged share capital, assuming full conversion.

According to Dr Hu, the Government's stake in the enlarged DBS will be about 53 per cent on the full conversion of preference shares.

As for the well-known POSBank brand, that stays. "It is a well-known brand. It is an advantage we do not want to discard," he said.

WHAT IT MEANS FOR YOU

The POSBank brand and its branches will still exist, but with some changes ...

POSBank account holders

* Government guarantee on all POSBank deposits to be removed on Nov 30 this year.

* Savings account tax-exemption until Dec 31, 1999.

* Further tax-exemption for first S$100,000 balance in each savings account until Dec 31, 2004.

Credit POSB mortgage customers

* 1.5% to 1.75% below DBS rates until Dec 31, 1999.

* Interest rates will then be stepped up over three years to reach market levels on Dec 31, 2002.

ATM card users

* From Nov 30 this year, POSBank customers will be able to use DBS automated teller machines (ATMs) and vice-versa. But unlike DBS customers, POSBank customers still cannot use other local banks' ATMs.

WHAT IT MEANS FOR DBS BANK

* World ranking jumps from 90th place to 65th.

* No 1 in Singapore in terms of deposits, loans, branches, ATMs, shareholders' funds and total assets.

* Biggest housing loan provider with estimated S$14 billion portfolio.

How does the merger affect you? What are the issues that still puzzle you? We want to hear from you. Call Newsline on 1800-737-8700, between 9 am and 1 pm.

DBS’s entry into China

China: Locally incorporated in 2007, first Singapore bank to do so; 29 branches in 10 major cities

today

SINGAPORE, 27 December 2006 – DBS Bank announced today that it has received approval over the weekend from the China Banking Regulatory Commission (CBRC) to prepare for local incorporation in China. DBS is the only Singapore bank among nine foreign banks to receive this approval.

 On Monday, DBS also obtained the approval from CBRC to provide time deposits of at least RMB 1 million to local Chinese residents at its Beijing, Shanghai and Shenzhen branches, strengthening its RMB offerings at these branches.

 China is an integral part of DBS’ blueprint to be a premier bank in Asia and the approvals mark an important step towards growing DBS’ business in China. With the set-up of the local subsidiary, DBS will be able to offer local Chinese residents the full suite of RMB banking services.

Richard Leung, DBS Country Head for China, said: “We are pleased to receive the approvals for both our applications which will spearhead our expansion in China. The swift response from CBRC reflects their commitment to open up the market and we are excited to be part of this milestone development for the Chinese market.

“We look forward to receiving the approval for the commencement of our local subsidiary soon and roll out our full suite of wealth management services in China so that local customers can enjoy the same level of services as our customers in Hong Kong and Singapore.”

Currently, DBS has five branches in Beijing, Guangzhou, Shanghai, Shenzhen and Suzhou, one sub-branch in Shanghai, and four representative offices in Fuzhou, Hangzhou, Tianjin and Dongguan.

DBS opens branch in Shanghai.102 words21 May 1995Reuters NewsLBAEnglish(c) 1995 Reuters Limited

SINGAPORE, May 20 (Reuter) - DBS Bank said it had officially opened a branch in Shanghai, its first in China.

The establishment of the Shanghai branch, which started operations on May 15, follows the setting up of a representative office in Beijing in 1992, the company said in a statement.

The Shanghai branch provides financial services including corporate banking, project financing, trade financing and retail banking, it said.

Apart from China, DBS Bank has offices in Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Taiwan, Thailand, UK and the US. --Singapore newsroom 65-8703080

(c) Reuters Limited 1995

DBS’s entry into India

Money

DBS Bank to open full branch office in Bombay348 words7 September 1994Straits TimesSTIMESEnglish(c) 1994 Singapore Press Holdings Limited

DBS Bank is opening a full branch office in Bombay, the commercial capital of India, before the end of this year.

This will make it the first South-east Asian bank with a full banking licenc e in India.

The branch will be located in the heart of Bombay's business district, Nariman Point.

DBS has leased space on the 12th floor of Maker Chamber No 4, a prime building in the area. It is currently being renovated and the branch is expected to be operational within this year.

The bank sees tremendous business potential in India in view of the growing trade and economic ties between Singapore and the sub-continent.

It is understood the new branch's focus will be on capital market activities , trade financing, project financing and general financing.

The establishment of the full banking branch follows DBS Bank's earlier establishment of a representative office in Bombay in January.

Located in the world famous Taj Mahal Hotel near the landmark Gateway of India, the representative office is headed by Mr Boey Yin Chong.

Sources said that DBS' image as a kind of national bank and its strong regional presence in Asia-Pacific, helped it clinch the full banking licence from India.

Before the Rao government took office in mid-1991, India had frozen the entr y and expansion of foreign banks.

However, as part of its economic liberalisation, it now allows foreign banks

to enter the country if they fulfill the required conditions. A key requirement is that the bank must bring in assigned capital of US$25 million (S$37 million).

What may have strengthened Singapore's case is that five Indian banks have been operating here for a long time.

These are the Bank of India, Indian Bank, Indian Overseas Bank and UCO Bank,

which have full banking operations here, while the fifth - State Bank of India - has an offshore licence.

In addition, there is the representative office of the specialised Export-Import Bank of India, which focuses on trade financing.

SPH AsiaOne Ltd.

DBS launches 50 Million Foundation, SG50

DBS LAUNCHES SGD 50 MILLION FOUNDATION TO STRENGTHEN CSR EFFORTS1173 words13 February 2014ENP NewswireENPNEWEnglish(c) 2014, Electronic News Publishing. All Rights Reserved.

Release date - 12022014

DBS Bank announced today that it has established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

The initiative is being launched in conjunction with Singapore50 (SG50), to mark Singapore’s 50th year of independence next year.

As the former Development Bank of Singapore, DBS has had a rich heritage of helping the industrialisation of Singapore. With POSB being the ‘People’s Bank’, the bank also sees itself as being an integral member of the community, serving more than four million customers in Singapore. Having progressed over the years with the nation, the bank believes that the foundation will enable it to further

contribute to the success of Singapore, and play a bigger role in the future of Asia.

With the launch of DBS Foundation, the bank will scale up its support for communities in Asia, and make an even greater impact in addressing the region’s evolving social needs. While the foundation’s objectives are expected to evolve over time, in the foreseeable future, it intends to catalyse social innovation by encouraging the development of innovative social initiatives. These initiatives include nurturing the social entrepreneurship sector. The foundation will also provide relief and support to communities in need, including donations in times of natural disasters or crises.

The establishment of the foundation underlines DBS’ commitment of giving back to the community in a sustained manner over the long term. Since 2012, the bank has provided over SGD 1.8 million in grants to 56 social enterprises in Asia. Of this, more than SGD 550,000 has been to eight social enterprises in Singapore, including Adrenalin, A-changin, Bizlink and Billion Bricks. The funds have enabled these social enterprises to set up new businesses or expand existing ones so as to provide employment opportunities to the disadvantaged or marginalised. The bank has been active in supporting social enterprises because they resolve social issues through financially viable solutions, enabling them to sustain their efforts over the long term. DBS also remains the only bank to offer virtually free banking services to social enterprises in Singapore, Hong Kong, China, India, Indonesia and Taiwan.

To encourage young people to do more for the community, DBS recently partnered the National University of Singapore (NUS) to launch an inaugural competition that will identify new ventures that have the potential to generate scalable and sustainable social impact. Launched in September 2013, the DBS-NUS Social Venture Challenge Asia has attracted over 400 submissions from over 15 countries around the world. Of the participants, 70% are younger than 30 years old, and close to 40% are women. The bulk of ideas centre on the use of technology to create social impact. The winners - who will be made known in June 2014 - will receive funding to start their social ventures.

‘Over the past two decades, Asia’s rapid economic growth and development have led to an improvement of living standards across the region. However, a sizable proportion of Asia’s population has yet to benefit from the region’s rise to prosperity,’ said DBS CEO Piyush Gupta. ‘At DBS, we are of the view that we share a symbiotic relationship with the societies and communities which we operate in. We believe in being a force for good. Apart from creating long-term economic value, we also seek to positively benefit the communities we are present in, and deliver social value. The DBS Foundation will enable us to be a further catalyst of change.’

2012 Launch of DBS Marina Regatta

DBS Group: Singapore's Biggest Water Sports Festival is Now Bigger and BetterDistributed by Contify.com856 words25 May 2013Singapore Government NewsATGVSGEnglishCopyright © 2013. Contify.com

Singapore, May 25 -- DBS Bank, which is investing SGD10 million over the next three years to enable people from all walks of life to enjoy Marina Bay, is launching DBS Marina Regatta 2013 with a splash. The DBS Marina Regatta 2013 will take place over two weekends - 18/19 May and 24/25 May, making it the biggest water sports festival ever held in Singapore. Deputy Prime Minister Tharman Shanmugaratnam and Mr Lawrence Wong, Acting Minister for Culture, Community & Youth will be the guests-of-honour at the DBS Marina Regatta 2013.

DBS Marina Regatta 2013 promises to be even bigger and better than last year's, featuring a new Bay Festival and Singapore's largest international dragon boat competition. The Regatta will also bring numerous social enterprises and family-friendly activities to the Bay, transforming it into a vibrant locale for the community at large to enjoy.

DBS Marina Regatta - Bay Festival, 24/25 May

The introduction of the Bay Festival to this year's Regatta will drive even greater spectator interest and community engagement. As part of DBS' ongoing efforts to enable members of the public to experience the Bay, more than 1,000 people will have the opportunity to try out dragon boating, kayaking and sailing free of charge during the Bay Festival.

Other exciting activities include rousing drum competitions and performances by popular local artistes such as Electrico.

As part of DBS' efforts to champion social entrepreneurship, the bank is also partnering the Ministry of Social and Family Development (MSF) to build a more inclusive community. More than 20 social enterprises will provide refreshments, entertainment and the sale of merchandise at the DBS Marina Regatta over the two weekends. Members of the public can take the opportunity to interact with these social enterprises as well as to support and learn about their social causes.

Said Sim S. Lim, Singapore Country Head, DBS Bank, "Last year's inaugural DBS Marina Regatta helped to showcase the beautiful waters of Marina Bay. This year, the expanded DBS Marina Regatta will further help transform Marina Bay into a 'People's Bay' as it draws families and friends to the area with exhilarating races, engaging performances as well as a variety of land and water activities. This is in line with our efforts to add vibrancy to Singapore's new financial downtown while enabling the broader community to experience and enjoy the Bay."

Members of the public can also expect a colourful showcase of cosplay talent in Singapore and fun carnival activities for all ages during the Dragon Boat Races taking place over the first weekend.

DBS Marina Regatta - Dragon Boat Races, 18/19 May

DBS brought international dragon boat competition back to Singapore after a 12-year hiatus, with the inaugural DBS Marina Regatta in 2012. The event brought more than 10,000 people including about 2,000 dragon boaters from close to 100 international and local teams to the Bay.

This year's event will draw even more participants, with close to 130 teams from all over the world gathering on the waters of Marina Bay to compete for cash prizes totalling SGD195,000 - one of the highest cash prizes for the sport.

DBS Marina Regatta - Dragon Boat Races is organised in partnership with the Singapore Dragon Boat Association (SDBA).

Dr Lam Pin Min, President of the SDBA said, "Last year's inaugural DBS Marina Regatta was the first international dragon boat race held in Singapore since 2000. We are very heartened by the response and support from both international and local teams. Leveraging on the success of last year's event, we have increased participation from five to 14 international teams this year. DBS Marina Regatta is fast gaining recognition as a premier showcase for the best of Southeast Asia dragon boat competition."

This year's Dragon Boat Races will have eight international and local categories in all. The tertiary categories have been expanded to include overseas tertiary dragon boat teams, further promoting the sport among youth. Over 20 tertiary teams will form closer ties with their peers in the region and gain international competition experience as they paddle against one other in the waters of Marina Bay.

In support of the increasing number of female athletes in the sport, two new race categories, DBS Tertiary Women and DBS Singapore Corporate Women, have also been added to the line-up.

The international category for DBS Marina Regatta 2013 will feature the DBS International Premier and the DBS Tertiary races while the local category will comprise the Singapore Premier and Singapore Corporate races. (More details on the race categories are available in Annex A.)

The DBS Marina Regatta is part of the bank's continuing efforts to engage the community, enliven the Bay, and to share the vibrancy and dynamism of Singapore's new financial downtown with a wider population. (For other community initiatives taking place in 2013, please refer to Annex B.)

DBS Marina RegattaBringing people to the Bay, the Bay to the people

Every May, we bring the uniquely Asian sport of dragon boating to the heart of Singapore’s financial

district with DBS Marina Regatta. The Marina Reservoir literally comes to life with Singapore’s

biggest water sports festival, which promises action both in the waters and on land.

The annual Regatta showcases the best of Asian dragon boating action. Each year, more than 140

international and local teams paddle it out for cash prizes totaling close to SGD 200,000, the highest

in a dragon boat race. Launched in 2012, the Regatta was Singapore’s first international dragon boat

races after more than a decade.

The Regatta is not just for those into dragon boating. To entertain the young and the old, individuals

and families, we have in store a host of land programmes, including cosplay parade, drum

challenge, food festival and many other fringe activities. Photography enthusiasts will have a field

day at the Regatta with the thrills and splashes of dragon boating and colourful cosplayers strutting

their stuff at the two-day event!

DBS to Help Bring Marina Bay to Life with Sgd10 Million Investment Over Three YearsDistributed by Contify.com725 words25 May 2013Singapore Government NewsATGVSGEnglishCopyright © 2013. Contify.com

Singapore, May 25 -- DBS Bank, which has been cementing the Marina Bay area as Singapore's new financial centre, plans to invest SGD10 million over the next three years to enable people from all walks of life to enjoy the Bay.

The initiative is part of the bank's continuing efforts to engage the community, enliven the Bay, and to share the vibrancy and dynamism of Singapore's new financial downtown with a wider population.

In a first for Singapore, DBS will enable members of the public to enjoy the experience of sailing at Marina Bay free of charge, on a regular basis.

Other key activities lined up this year include the DBS Marina Regatta - Singapore's largest water festival - in May, the POSB PAssion Run for Kids in September and a DBS Social Enterprise Special at the end of the year.

The initiatives are organised in partnership with the Urban Redevelopment Authority (URA), the People's Association (PA), the Singapore Dragon Boat Association (SDBA) and the Singapore Sailing Federation (SSF).

Said Karen Ngui, Managing Director and Head of Group Strategic Marketing and Communications, DBS Bank, "Since moving our headquarters to the Marina Bay Financial Centre last year, DBS has cemented the Marina Bay area as Singapore's new financial downtown. We are excited to be here as Marina Bay will be a catalyst for Singapore's future growth. As the largest bank in Singapore, one that believes in giving back to the community, we also want to make the Bay a vibrant locale and a 'People's Bay', one in which everyone can enjoy."

DBS Sailing Programme

To kick off the year, members of the public can enjoy sailing with DBS on the last Saturday of every month from April to November. DBS is the first corporate in Singapore to offer complimentary sailing to the public at Marina Bay on a regular basis.

The public can expect to experience the rare opportunity of sailing in a DBS sailboat on the waters of Marina Bay while enjoying its environs for free.

Through this sailing programme, DBS hopes to make the Bay and what it has to offer more accessible to the community at large. This initiative is expected to reach out to 2,000 people and provide them with a memorable experience on the waters of Marina Bay. (For more information and to register, please visit http://www.dbs.com/community/dbsmarinabaysailing)

DBS Marina Regatta

This year's DBS Marina Regatta promises to be even bigger and better than last year's. This year's event will span two weekends - 18/19 May and 24/25 May, making it the biggest water sports festival ever held in Singapore.

In a revival of dragon boating in Singapore, last year's inaugural Marina Regatta saw participation from about 2,000 dragon boaters from close to 100 international and local teams. It also attracted more than 10,000 people to the Bay.

POSB PAssion Run for Kids

The fifth POSB PAssion Run for Kids is slated for 8 September at the Marina Bay Promontory. Categories include the 3.5km Family Walk, the 10km Men's and Women's Open, and the 800m and 1.2km Boys' and Girls' Open.

Jointly organised by POSB and the People's Association (PA), the event encourages the public to run to raise funds for underprivileged children. Last year, the run attracted more than 8,000 participants and raised more than SGD 1.1 million for at least 15,000 children.

DBS Social Enterprise Year-end Special

To round off the year, DBS will be collaborating with various social enterprises to organise a Social Enterprise Year-end Special at Marina Bay in November.

Championing social entrepreneurship across the region is the centrepiece of DBS' corporate social responsibility efforts. As DBS believes that the future of business is to be a force for good, it supports social enterprises that seek to resolve social issues with financially viable solutions.

Today, DBS banks over 80% of social enterprises in Singapore, and has earmarked SGD1 million as project grants for social enterprises in the region.

With these events lined up for the year, DBS is committed to bringing people to the Bay and the Bay to the people.