Money & Banking

DBS Bank plans to have 100 touch-points in the next 12 months

Our Bureau Hyderabad | Updated on November 21, 2019 Published on November 21, 2019

DBS Bank India Ltd is expanding its footprint.  From about 70 touch points now, DBS will reach 100 touch points in next 6 to 12 months across 25 cities, Priyashis Das, Head - Branch Banking & Wealth Management, Consumer Banking - DBS Bank India told newspersons at a press conference held here on Thursday.

"For us, touch points are both branches and experience centres. We will be inaugurating our sixth experience centre in a couple of months in Hyderabad, " Das said.

AMALGAMATION

After receiving final approvals from RBI, DBS Bank Ltd. (branches) were amalgamated by conversion into DBS Bank India Limited (DBIL), a Wholly Owned Subsidiary (WoS) of DBS Bank Ltd, Singapore, with effect from 1 March 2019.

As per results announced earlier, the net profit was Rs 14.5 crore for the combined period, viz. eleven months of operations of the erstwhile India branches ( April 1,  2018 to 28 February 2019) and one month of banking operations in DBIL (1 March 2019 to 31 March 2019) including costs incurred on set up of DBIL.

There was a loss of Rs 533 crore in 2017-18.

Published on November 21, 2019
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