DBS officially launches Qingdao branch

DBS has opened a branch in Qingdao, China, on Wednesday Oct 21, 2015.
DBS has opened a branch in Qingdao, China, on Wednesday Oct 21, 2015.PHOTO: REUTERS

SINGAPORE - DBS Bank (China) opened a branch in the eastern coastal city of Qingdao on Wednesday, its first branch in China's Shandong province.

The bank will provide corporate banking services including deposit facilities, loans, trade financing, cash management and treasury market services in its new branch.

The bank said the Qingdao branch will "strongly support Shandong's economic growth", as Qingdao is right in the middle of the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

DBS said: "Leveraging the bank's deep market insights and extensive network in Asia, the branch will provide comprehensive financial services to clients going aboard, connecting them to Asia and helping them better seize market opportunities both in the Bohai coastal region and overseas."

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