Affirms commitment to Taiwan, where DBS is largest SME lender among foreign banks
TAIPEI, 10 July 2019 – Affirming its commitment to growing the Taiwan franchise, Singapore-based DBS Bank has injected NTD 2.25 billion into DBS Bank (Taiwan), thereby increasing its registered capital to NTD 32.25 billion. The investment will be used to further expand DBS Taiwan’s business, especially in the areas of digital innovation and SME banking, in order to provide seamless and hassle-free banking experiences for Taiwan clients.
The move follows the completion of the acquisition of ANZ Taiwan’s personal banking and wealth management business in December 2017, and recent initiatives by DBS Taiwan in 2018 to further expand its credit cards and wealth management franchise in the market.
Said DBS Chairman Peter Seah, “Taiwan is an important market for DBS Group. DBS Taiwan has been growing rapidly in recent years, delivering great business performance and demonstrating strong growth momentum. We have confidence in the market and look forward to bringing the franchise to the next level.”
Lim Him Chuan, General Manager of DBS Bank (Taiwan), indicated that Taiwan has a strategic position in the Greater China Region. With Taiwan’s New Southbound Policy and rising demand for supply chain diversification, DBS Bank (Taiwan) plays a pivotal role in supporting customers in their regional expansion.
Since acquiring ANZ Taiwan’s personal banking and wealth management business in December 2017, DBS Taiwan has significantly grown its customer base, while expanding its product suite.
As an example, it launched DBS Treasures Private Client, a private banking service to Taiwan in 2018. At the same time, the bank has also continued to grow its institutional banking business. As of the end of March, DBS Bank (Taiwan)’s SME loan book amounted to TWD 32.25 billion, making it the largest SME lender among foreign banks, and underscoring its commitment to Taiwan SME community.
In addition, DBS Bank (Taiwan) has been strengthening its sustainability agenda in various ways. It has been actively participating in syndicated loan deals to support green finance. Recently, the bank also signed a three-year, NTD 2 billion sustainability-linked loan with AU Optronics, in what is the first sustainability-linked loan in Taiwan. The loan marks a milestone for sustainable development in Taiwan, and it is DBS Taiwan’s hope that it will encourage more customers to build businesses that will leave a positive impact for the future.
At the same time, DBS Taiwan’s Private Banking Client flagship branch in Xinyi Area, Taipei City recently received a Silver Certification from LEED (Leadership in Energy and Environmental Design). The branch clinched the award by adopting measures that will reduce indoor water use, optimise energy performance and facilitate recycling and waste management planning.