News: DBS Bank officially launches Dhaka representative office
The inauguration was officiated in a city hotel in Dhaka, attended by Bangladesh Investment Development Authority Executive Chairman (Senior Secretary) Lokman Hossain Miah and Bangladesh Bank Deputy Governor Ahmed Jamal, who attended as special guests. DBS Chief Executive Officer Piyush Gupta, DBS Group Head of Institutional Banking Tan Su Shan and DBS Dhaka Chief Representative Tahsina Banu were also present at the occasion together with more than 100 of DBS' top clients, business partners and employees, as well as local government officials.
Before the pandemic, Bangladesh's economy enjoyed GDP growth of nearly 7% a year for more than a decade (2008 – 2019). Between 2000 and 2021, the size of its economy grew nearly seven times. Bangladesh's economy is supported by a young population, increasing labour force participation and a growing middle class that is expected to account for a third of households in a decade.
Bangladesh Investment Development Authority Executive Chairman (Senior Secretary) Lokman Hossain Miah said, "As we work towards Bangladesh becoming a trillion-dollar economy by 2035 under the visionary leadership of the Honourable Prime Minister Sheikh Hasina, we intend to expand external trade and accelerate inflows of foreign investment and remittance. I am pleased that DBS, Southeast Asia's largest bank, has chosen to establish a presence in Bangladesh. I am confident that we will benefit from its partnership in Bangladesh's journey towards becoming an international business hub and global incubator for innovation, sustainability and entrepreneurship."
Bangladesh Bank Deputy Governor Ahmed Jamal said, "The establishment of DBS Bank's representative office in Dhaka is a milestone for Bangladesh as we expand our international banking relationships. I am hopeful that this will be a mutually beneficial partnership for the development of new financial products and investment opportunities."
DBS Chief Executive Officer Piyush Gupta said, "Bangladesh's proximity to India and China puts it in a good position to receive sustained trade and investment inflows from these rising regional giants. In particular, sectors such as telecommunications, gas and petroleum, power, as well as textiles and apparels, present attractive business opportunities for corporates looking to do more with the market. In recent years, DBS has already been providing trade finance and advisory services in Bangladesh. The establishment of DBS Dhaka will provide further impetus to the bank's activities and greater market connectivity for DBS customers globally."
DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 14 consecutive years from 2009 to 2022. In addition, DBS was named "World's Best Bank" by US-based financial publication Global Finance last August, making it the third time that the bank had clinched the magazine's top accolade since 2018. This is also the bank's seventh global best bank win in the last five years, reinforcing the bank's position as an industry leader and a forward-looking institution shaping the future of banking
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DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. 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 and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 14 consecutive years from 2009 to 2022.
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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.