DBS receives approval to establish joint venture securities company in China
Singapore, China.02 Sep 2020
Singapore, China, 02 Sep 2020 - DBS Group today announced that it has received approval from the China Securities Regulatory Commission (CSRC) to establish DBS Securities (China) Limited, a joint venture securities company in which DBS Group will have a controlling stake.
DBS Securities will be an important part of DBS Group’s strategy in China. Businesses that it will engage in include brokerage, securities investment consulting, securities underwriting and sponsorship, as well as proprietary trading. DBS Securities is committed to providing best-in-class onshore products and services for domestic and international customers.
Piyush Gupta, CEO of DBS Group said, “We are very pleased to receive CSRC approval to establish DBS Securities. This year marks the 30th anniversary of diplomatic relations between China and Singapore. Likewise, DBS Group has been supporting China’s financial development in the past 30 years. The ability to set up a securities company in China represents yet another key milestone, enabling us to make available the best of DBS’ capabilities and offerings, and provide customers in China with a full range of onshore and offshore financial services."
Neil Ge, China head of DBS Group said: "The establishment of DBS Securities will further support the long-term sustainable development of DBS Group in China and meet the changing needs of customers in multiple aspects. With the continuous expansion of DBS’ onshore business platforms, the Group is committed to providing more comprehensive financial services to Chinese customers."
Overview of DBS Securities
Company Name: DBS Securities (China) Limited
Registered location: Shanghai, China
Registered capital: 1.5 billion (RMB)
Company shareholders and capital ratio:
DBS Bank Ltd. (51%)
Donghao Lansheng Investment Management Co., Ltd. (24.67%)
Shanghai Huangpu Investment Holdings (Group) Co., Ltd. (13.33%)
Shanghai Huiyang Asset Management Co., Ltd. (6.5%)
Shanghai Huangpu Guidance Fund Equity Investment Co., Ltd. (4.5%)
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank 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. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing 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 the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
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 in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com
DBS Securities will be an important part of DBS Group’s strategy in China. Businesses that it will engage in include brokerage, securities investment consulting, securities underwriting and sponsorship, as well as proprietary trading. DBS Securities is committed to providing best-in-class onshore products and services for domestic and international customers.
Piyush Gupta, CEO of DBS Group said, “We are very pleased to receive CSRC approval to establish DBS Securities. This year marks the 30th anniversary of diplomatic relations between China and Singapore. Likewise, DBS Group has been supporting China’s financial development in the past 30 years. The ability to set up a securities company in China represents yet another key milestone, enabling us to make available the best of DBS’ capabilities and offerings, and provide customers in China with a full range of onshore and offshore financial services."
Neil Ge, China head of DBS Group said: "The establishment of DBS Securities will further support the long-term sustainable development of DBS Group in China and meet the changing needs of customers in multiple aspects. With the continuous expansion of DBS’ onshore business platforms, the Group is committed to providing more comprehensive financial services to Chinese customers."
Overview of DBS Securities
Company Name: DBS Securities (China) Limited
Registered location: Shanghai, China
Registered capital: 1.5 billion (RMB)
Company shareholders and capital ratio:
DBS Bank Ltd. (51%)
Donghao Lansheng Investment Management Co., Ltd. (24.67%)
Shanghai Huangpu Investment Holdings (Group) Co., Ltd. (13.33%)
Shanghai Huiyang Asset Management Co., Ltd. (6.5%)
Shanghai Huangpu Guidance Fund Equity Investment Co., Ltd. (4.5%)
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank 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. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing 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 the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
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 in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com
