DBS opens new Australian branch

DBS chairman Peter Seah addressing about 150 guests at a client luncheon in Sydney to officially launch DBS' new Australian branch.
DBS chairman Peter Seah addressing about 150 guests at a client luncheon in Sydney to officially launch DBS' new Australian branch.PHOTO: DBS

DBS Bank officially opened an outlet in Sydney yesterday, expanding its presence to 18 markets around the world.

The Australian branch will help business and investment flows between Australia and Asia, the bank said in a statement.

It will also conduct institutional banking activities such as corporate and trade finance, cash management and treasury solutions.

DBS chief executive officer Piyush Gupta said in a statement: "With our growing footprint in Greater China, South-east Asia and South Asia, we are better able to connect clients in Australia with Asia and vice-versa, and support them more meaningfully."

Australia also provides many opportunities in the infrastructure, utilities, real estate and commodities, the bank said.

DBS has been serving Australia from its Singapore office, banking blue-chip Asian and Australian corporations as well as financing many infrastructure transactions, including various Public Private Partnership projects.

Clients include energy giant Woodside Petroleum and developers Lend Lease and AV Jennings.

A version of this article appeared in the print edition of The Straits Times on September 02, 2015, with the headline 'DBS opens new Australian branch'. Print Edition | Subscribe