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.