DBS operates in India through DBS Bank India Limited, a wholly owned subsidiary that serves large corporates, mid sized companies, small businesses and retail customers. Its Hyderabad technology centre, DBS Tech India, builds platforms for the group across markets.
Ownership and structure
DBS operates in India through DBS Bank India Limited, a wholly owned and locally incorporated subsidiary of DBS Bank Limited, Singapore.
What India does for DBS Bank
India is a retail and corporate banking market for DBS and home to DBS Tech India in Hyderabad, its largest technology centre outside Singapore.
Investment and deals
DBS Bank Limited, Singapore, infused Rs 2,500 crore of capital into DBS Bank India in December 2020 following the amalgamation of Lakshmi Vilas Bank.
DBS Bank's India business
DBS opened its first India office in Mumbai in 1994. Lakshmi Vilas Bank was amalgamated into DBS Bank India in November 2020, giving it a large branch network concentrated in Tamil Nadu.
DBS Tech India was set up in Hyderabad in 2016 and is the bank's largest technology centre outside Singapore. DBS Tech India had more than 3,000 employees by 2022.
Key moves in India
- 1994: DBS opened a representative office in Mumbai.
- 1995: DBS opened its first bank branch in India.
- 2016: DBS set up its technology centre in Hyderabad, later renamed DBS Tech India.
- 2019: DBS launched DBS Bank India Limited as a wholly owned subsidiary in March.
- 2020: Lakshmi Vilas Bank was amalgamated into DBS Bank India on November 27.
- 2020: DBS infused Rs 2,500 crore of capital into DBS Bank India in December.
Where it operates
DBS Bank runs its India business from Mumbai. It also has a presence in Hyderabad and Chennai.
At a glance
- Home country: Singapore
- Global headquarters: Singapore
- Sector: Banking & Financial Services
- Business: Banking
- Role of India: Sales market, Financial services franchise, R&D and engineering hub
- India entity: DBS Bank India Limited
- India head office: Mumbai
- India offices: Mumbai, Hyderabad, Chennai
- India headcount: Not available
- In India since: 1994
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