DBS Bank Full Form | What Does DBS Bank Stand For?

DBS: Development Bank of Singapore

DBS Bank Full Form

DBS bank full form stands for Development Bank of Singapore. DBS Bank Limited is a Singapore-based multinational banking and financial services corporation headquartered in Marina Bay, Singapore.

The company was adopted on 21 July 2003 to reflect its changing role as the World Bank, formerly known as the Singapore Development Bank.

Brief Explanation

The bank was established on 16 July 1968 by the Government of Singapore to take over industrial financing activities from the Economic Development Board.

DBS Bank is the largest bank in Southeast Asia in terms of assets and the largest bank in Asia as of December 31, 2017. This includes Singapore, Hong Kong, and Taiwan to raise consumer banking, market brokerage, asset management, securities, treasury and markets, equity, and debt funds.

Headquartered in the commercial capital of Mumbai, DBS operates 33 bank branches across 22 cities in India such as Bangalore, Chennai, Hyderabad, Kolhapur, Kolkata, Coimbatore, Moradabad, Indore, Mumbai.

Brief History

  • Established by the Government of Singapore on 16 July 1968 to handle industrial financing activities from the Economic Development Board.
  • In April 2009, DBS India had a 37.5% stake in DBS Cholamandalam Finance, a non-bank financial institution.
  • On November 17, 2020, the Reserve Bank of India directed LVB to merge Lakshmi Wallace Bank (LVB) with DBS India, after being in the modem range for 30 days.

Branches

DBS Bank has branches and offices in following countries:

Australia, India, South Korea, Malaysia, United Kingdom, Indonesia, Japan, Myanmar, Taiwan, Thailand, United Arab Emirates, Philippines, United States, China, Hong Kong, and Vietnam.

What Is The Full Form Of DBS Bank?

DBS bank full form stands for Development Bank of Singapore. It is a Singapore-based multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The bank was incorporated in July 1968 and was launched in September of the same year.

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