DBS Full Form - Development Bank of Singapore
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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