DBS inaugurates new headquarters building in Shanghai

Singapore's largest bank continues to grow its branch footprint in China with the inauguration of DBS Bank Tower located in Lujiazui.

The new building will house all of DBS China's employees based in Shanghai, with five floors allotted for the said staff while 13,300 square meters are up for lease. DBS Bank Tower is part of the bank's comprehensive, multi-year strategic occupancy programme announced in 2007. The said programme includes the relocation of DBS Group's Singapore headquarters to the Marina Bay Financial Centre in 2013.

Piyush Gupta, DBS Chief Executive, said, "One of DBS' competitive advantages as an Asian bank is the regional connectivity we offer our customers. We intend to fully leverage our extensive footprint in Hong Kong, and our growing presence in China and Taiwan, to intermediate the increasing trade and investment flows within the Greater China region."

The inauguration of DBS Bank Tower, officiated by DBS Chairman Koh Boon Hwee, Chief Executive Piyush Gupta and other board members, is momentous for DBS as it is the first Singapore bank to set up a locally-incorporated subsidiary in China.