DBS Bank gets nod to set up sub-branch in Shanghai pilot free trade zone
DBS Bank (China) has received approval to set up a sub-branch in Shanghai's pilot free trade zone (FTZ) by the China Banking Regulatory Commission Shanghai Bureau.
DBS China is one of the first two foreign banks to operate an outlet in the FTZ.
It said that the the sub-branch will focus on servicing corporate clients in the FTZ at its first stage, complementing the bank's established network in Shanghai.
It currently operates nine outlets in Shanghai.