DBS Bank to set up 30 more touch points across 25 cities of India in 6-12 months

DBS Bank to set up 30 more touch points across 25 cities of India in 6-12 months

Agency News

Hyderabad, Nov 21 : DBS Bank India Limited (DBIL), the wholly owned subsidiary of DBS Bank Limited., Singapore and part of Asia’s leading financial services group, DBS Group Holdings Limited., on Thursday announced to establish 30 more customer touchpoints across 25 cities in the country in the next 6-12- months.

Addressing a press conference, DBS Bank India Limited Head ( Branch Banking and Wealth Management, Consumer Banking) Priyashis Das said currently, we have over 70 customer touchpoints – a combination of branches and e-kiosks in the country.

The bank underlined its commitment to India and highlighted its focus on Hyderabad as a key market in its expansion strategy, he said it had inaugurated its first branch in Hyderabad earlier this year and is also inaugurating an experience centre at Serlingampally mandal in Hyderabad with the aim of providing last mile access to customers.

Hyderabad is an integral part of our India branch network and expanding our presence in the city has enabled us to further strengthen, Mr Das said the market was demonstrating strong growth, adding to over 30 percent of our new customer base, from the new geographies where we have launched since March, 2019.

The Bank aims to double its Global Indian customer base in the FY20, he claimed and said that at present, 25 per cent of DBS’ wealth management customers in Hyderabad are global Indians.

DBIL will accelerate its growth plans, expand its operations through a ‘ phygital’ model to further serve large corporates, small and medium enterprises (SMEs) and individuals customers, Mr Das said.

The bank introduced digibank Remit, a remittance platform that facilitates money transfer across 40 countries, including the USA, UK, Australia and Singapore, without any hidden or additional fees, he said.

According to the ‘2020 Foresight: NRI report by Wealthinsight, out of 31.9 million global Indians, 236,000 are millionares with average wealth USD 8 million while as per World Bank, India received USD 79 billion worth of inward remittance in 2018 and set USD 11.3 billion abroad through Liberalised Remittance Scheme (LRS), the DBS Bank Head said. (UNI)