DBS Full Form - Development Bank of Singapore

Development

Development Bank of Singapore

  • The full form of DBS is that the Development Bank of Singapore Limited. DBS Bank Ltd, based in Marina Bay, Singapore, may be a Singaporean multinational banking and financial services corporation.
  • Before the current name was introduced on 21 July 2003 to represent its changing status as a leading bank, the organization was identified because the Development Bank of Singapore Limited.
  • The bank was established by the govt of Singapore on 16 July 1968 to hold over from Economic Development Board the activities of commercial financing.
  • Currently, its divisions are often located island-wide, counting more than 100. With a liquid wealth of S$518 billion as of 31 December 2017, DBS is that the biggest bank in Southeast Asia by capital and among the most important Asian bank.
  • The bank has a regional network of more than two fifty subsidiaries and over 1,100 ATM across fifty cities, with activities in seventeen markets.

A brief history of DBS

  • DBS developed by the govt of Singapore on 16 July 1968 to require over the Economic Development Board’s manufacturing capital expenditures.
  • The primary objective of the bank would be to supply loans & financial assistance to the manufacturing sector and to help build and upgrade existing industries in Singapore.
  • In 1960, a United Nations industrial analysis mission was invited by the Singapore government to examine the financial condition in Singapore and to determine an industrialization program for the area.
  • The concept has included the creation, alongside an administrative body, of a development bank to attract foreign investors also as provide funding and management of industrial sites.
  • In July 1968, the bank was established and started operations in September of that year.


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