DBS Bank has been present in India for 27 years, opening its first office in Mumbai in 1994 and its first bank branch in 1995.DBS Bank officially launched its locally incorporated wholly, owned subsidiary, DBS Bank India Limited (DBIL), in March 2019, becoming the only large foreign bank in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. With a focus on its Digital-First Bank approach, DBS brought in existing technology that helped existing and new LVB customers to Live More and Bank Less using our products. The Bank has witnessed an increase in its retail customer base with a strong Current & Savings Account (CASA) balance. The bank has extended its phygital offering and products such as gold loans, commercial vehicle financing, and education loans with the extended branch network.
Boost to the Gold Loan Business
While LVB had an extensive gold loan portfolio, DBS Bank's digital offerings further expanded the reach and popularity of the gold loan product. DBS gold loans offer farmers an easy and hassle-free option for funding farming and allied activities. These loans are available at all branches and enable farmers to unlock the value of their gold ornaments and avail of higher rates to fulfil their credit needs. DBS gold loans come with instant disbursal in 30 minutes, an attractive rate per gram, low-interest rates & 50% waiver in processing fees.
The gold loan book is about ₹4,500 crore and is expected to grow three times in the next five years.
Focus on services for businesses and consumers
DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India. While it was primarily an institutional bank in the past, DBS Bank India has significantly scaled up retail and small-to-medium enterprise lending.The bank is working on its products, geography focus, pricing and customer segmentation to reverse the existing lending mix to 40 per cent of corporate and 60 per cent of consumer banking and SMEs over the next five years.
DBS is committed to building lasting customer relationships and positively impacting communities by supporting enterprises and individuals.
The integration process is proceeding smoothly.
In November 2020, Lakshmi Vilas Bank (LVB) was amalgamated with DBIL. The scheme of amalgamation is under the special powers of the Government of India and Reserve Bank of India under Section 45 of the Banking Regulation Act, 1949, India, and came into effect on 27 November 2020.
The amalgamation has provided DBS Bank India with a strong foothold in South India, taking its total network to around 600 branches across 19 states. The integration has been focused around the four pillars --- Product and Process, Systems and Technology, and People and Brand— most of which is expected to be completed by the end of 2022.
Performance Highlights- FY22
DBS Bank India Limitedannounced its financial results for 31 March 2022. The performance highlights were as follows:
- Net advances: INR 43,898 crore
- Total deposits: INR 48,978 crore
- Net revenues: INR 2,892 crore
- Net profit: INR 167 crore
- Overall Capital Adequacy Ratio stood at 16.29%, with CET 1 at 13.71%
· Asset quality: Net NPAs stood at 1.61% on 31 March 2022, with a provision coverage ratio of 87%.
About DBS
DBS is a leading financial services group in Asia with 18 markets. Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Banks of the Year"by The Banker and "Best Bank in the World" by Global Finance.
The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 14 consecutive years from 2009 to 2022. DBS was also ranked No. 1 on Forbes' list of the World's Best Banks in India for two consecutive years.
DBS provides a full range of consumer, SME, and corporate banking services. As a bank born and bred in Asia, DBS understands the intricacies of business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises, as it banks in the Asian way.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit of our 30,000+ staff representing over 40 nationalities. For more information, please visit www.dbs.com.
No comments:
Post a Comment