In January 2010, DBS received regulatory approval to set up a branch in Ho Chi Minh City.
The new branch in Ho Chi Minh City has 20 full-time staff. DBS also has a representative office in Hanoi, which was established in 2008.
DBS Bank said that it will support companies with business interests in Vietnam by offering services like trade financing, receivables financing, remittance, cash management and capital markets access.
Over time, the branch will also extend its product and service offerings to cater to SMEs and affluent individuals.
DBS Group Holdings CEO Piyush Gupta said that the opening of this new branch in Vietnam demonstrates DBS’ commitment to helping businesses expand within Vietnam and also across the region.
