In conjunction with the 12th Singapore-Jiangsu Cooperation Council, DBS today signed a Memorandum of Understanding (MOU) with Suzhou Industrial Park Administration Committee (SIPAC) to support the growth and innovation of financial services in the Suzhou Industrial Park (SIP).
Under the MOU, DBS will work with SIPAC to leverage on each other's industry capabilities and networks to broaden and deepen the financial infrastructure within SIP to cater to the needs of technology startups and companies. Notably, financial areas earmarked for development include capital markets, cash management, settlement, and trade finance, among others.
Lim Chu Chong, Head of Institutional Banking, DBS Bank (China), said, 'With China continuing to open up, we view our collaboration with SIPAC as a way to forge stronger Sino-Singapore relations, and as an avenue to deepen the bank's services and offerings to better serve our clients. The collaboration also underscores our continued commitment to further the development of financial services within SIP and the wider Jiangsu province. Notably, by harnessing our expertise in capital markets and transaction banking, we hope to leverage on our knowledge and networks to help corporates achieve their financing needs and embark on their next phase of growth.'
DBS - A long-time supporter of SIP
DBS is the first Singapore bank to set up operations in the SIP in 2007 and has been supporting the growth and development of Suzhou and SIP for the past 11 years. Located in the Jiangsu Province, the Suzhou Industrial Park is an important cooperation project between the governments of China and Singapore. It was approved by the State Council in February 1994, and Suzhou Industrial Park Management Committee is an institute of Suzhou Industrial Park governance administration.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence 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 '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 ten consecutive years from 2009 to 2018.
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 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
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