Press release from Business Wire India
Source: DBS Bank
Wednesday, June 27, 2012 12:30 PM IST (07:00 AM GMT)
Editors: General: Consumer interest, Economy, Environment, People; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
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DBS Bank India Reports Record Revenues and Profits for Fiscal 2011-12
Net Profit increases 164%; Income rises 86%; Balance sheet grows 53%
Mumbai, Maharashtra, India and Singapore, Wednesday, June 27, 2012 -- (Business Wire India) -- DBS Bank India today declared its financial results for the year ended March 31, 2012.
Announcing the results, Sanjiv Bhasin, GM & CEO, DBS Bank India, said: "We registered encouraging growth with a disciplined execution of our strategy and prudent risk management. Our performance was broad-based with growth across all business lines. The client base expanded and we engaged with them at various levels to understand their requirements and accordingly offer optimal solutions. This enabled us to strengthen relationships and boost our FY2011-12 revenue and profits to new highs."
Key Financials at a Glance
Financial Ratios (%)
During the year, DBS injected ` 5,085 million into DBS Bank India as additional capital. With this addition, the total capital funds of the bank in India as at 31 March 2012, was over ` 35 billion, making DBS' operations in India well capitalised to further accelerate its franchise growth.
An enhanced focus on client acquisition across business segments grew the overall customer base by over 55% during the year. Increased cross-sell of cash management and treasury products bolstered income and enabled the bank to deepen client relationships. Capitalising on its well entrenched Asian franchise, DBS became a leading mobiliser of NRI deposits. Growth was also facilitated by its large presence in Singapore and key markets across Asia.
India continues to remain a key market for DBS, and an integral part of its Asia strategy. Since opening its first branch in India in 1995, DBS has successfully built a large, diverse franchise that can today be counted amongst the larger foreign banks in the country. With a network of 12 branches and 40 ATMs, DBS is the largest Singaporean bank operating in the country.
In 2011-12, despite uncertainties in the economic environment, DBS Bank India launched new products and service offerings, both in the corporate and consumer banking domains, making its portfolio more holistic. These included Debt Capital Markets (DCM), the Parameterized Lending Programme for SMEs, 24 X 7 Contact Centre for consumer banking customers and DBS iBanking, a feature-rich Internet banking platform.
During the year, DBS India received several accolades - India's Best Foreign Bank from Financial Express - E&Y for 2010 (presented in 2011), Best Foreign Bank (Asset Quality) from Dun & Bradstreet for 2011 and the Best Trade Finance Solution in India (Highly Commended) from The Asset.
To enhance its brand visibility and emphasise its Asia expertise, a maiden integrated communications campaign across various media - newspapers, magazines, television, radio, Internet and out of home - was successfully executed.
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for four consecutive years, from 2009 to 2012.
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. This market insight and regional connectivity have helped to drive the bank's growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 18,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.
About DBS Bank India
DBS Bank India is a branch of DBS Bank Ltd, which is in turn a subsidiary of DBS Group Holdings Ltd, one of the largest financial services groups in Asia. DBS opened its first branch in Mumbai in 1995. Since opening its second branch in New Delhi in 2005, DBS has rapidly expanded its India footprint to 12 cities with a network of full service branches and ATMs.
Today, DBS offers a comprehensive portfolio of wealth management, institutional banking, cash management and treasury and market products and services in India. Over the last 5 years, DBS India has grown its customer base by about 20 times, and increased its staff strength to over 800. The bank is committed to continue to grow its business and franchise in India. For more information, please visit www.dbsbank.in.
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Financial_Ratios.pdf
CONTACT DETAILS
Sudeep Bhalla, Group Strategic Marketing & Communications, DBS Bank, +91 (22) 67528490/ +91 9820001872, sudeepbhalla@dbs.com
Edna Koh, Group Strategic Marketing & Communications, DBS Bank, (65) 6878 8134/ (65) 9753 0117, ednakoh@dbs.com
Archana Tomar, Co Founder & Vice President, Blue Lotus Communications, +91 (22) 66522803/ +91 9820225986, archana@bluelotuspr.com
KEYWORDS
CONSUMER, ECONOMY, ENVIRONMENT, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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