DBS to inject RMB 2.3b to China franchise
The bank is increasing its registered capital in DBS China by close to 60%.
DBS Bank said the capital injection is subject to the requisite regulatory approvals and will be the first time that the bank will be infusing additional capital into its wholly owned China subsidiary since RMB 4 billion was injected during local incorporation five years ago.
DBS China also plans to continue investing in network expansion, headcount growth, infrastructure upgrades, consumer and corporate internet banking platform enhancements, and other technology developments.
In January 2012, DBS China opened its first inland China branch in Western China’s biggest city Chongqing.