DBS_Bank_(Hong_Kong)
DBS Bank (Hong Kong)
Licensed bank incorporated in Hong Kong
DBS Bank (Hong Kong) Limited (Chinese: 星展銀行（香港）有限公司) is a licensed bank incorporated in Hong Kong and is a subsidiary of DBS Bank headquartered in Singapore. As of 2022, it is the eighth-largest bank in Hong Kong by total assets.[2]
Native name | 星展銀行（香港）有限公司 |
|---|---|
| Company type | Subsidiary of DBS Group Holdings Ltd |
| Industry | Banking |
| Predecessor | |
| Founded | Hong Kong (July 21, 2003; 20 years ago (2003-07-21)) |
| Headquarters | |
Key people |
|
| Services | Financial services |
 HKD11.9 billion (2018)[1] | |
| HKD5.1 billion (2018)[1] | |
| Total assets | HKD445.7 billion (2018)[1] |
| Total equity |  HKD38.0 billion (2018)[1] |
| Parent | DBS Group Holdings Ltd |
| Website | www.dbs.com.hk |
In 1999, DBS Bank acquired Kwong On Bank and formed the DBS Kwong On Bank Limited. In 2001, DBS Bank acquired Dao Heng Bank, including its subsidiary, Overseas Trust Bank, from Guoco Group.[3]
In 2003, DBS Bank merged the three banks, DBS Kwong On Bank Limited, Dao Heng Bank and Overseas Trust Bank, to form DBS Bank (Hong Kong).[4]
In September 2010, Sebastian Paredes was appointed CEO of DBS Hong Kong.[5]
On March 17, 2014, DBS Bank Ltd. (DBS) announced to acquire the Asian private banking business of Societe Generale in Singapore and Hong Kong, as well as selected parts of its trust business. The business was successfully integrated into DBS in October 2014. The integration bolstered DBS’ private banking business in Hong Kong and North Asia.[6]
On September 11, 2017, DBS Bank Ltd. (DBS) successfully completed the acquisition of Australia and New Zealand Banking Group's retail and wealth business in Hong Kong.[7]
On 2 February 2024, DBS Bank (Hong Kong) Limited announced the opening of its new DBS Treasures Centre at 18 Queen's Road Central. The DBS Treasures Centre, spanning approximately 15,000 square feet, features a contemporary design and is located in Hong Kong's central business district.[8]
- DBS Asia Capital Limited
- DBS Bank (Hong Kong) Limited - Macau Branch
- DBS Vickers (Hong Kong) Limited
- Hutchison DBS Card Limited
On October 5, 2004, DBS Bank (Hong Kong) Limited announced that, during the renovation of its branch in Mei Foo Sun Chuen, in Kowloon, when the bank attempted to remove more than 900 empty safety boxes from the branch, 83 safety boxes rented by customers and containing valuables were accidentally removed. The 83 boxes were subsequently sent to a scrapyard and crushed. The bank reported that 36 boxes were recovered, although the valuables contained inside were badly damaged.[9]
In 2009, the safe deposit box incident was portrayed on TVB television series Born Rich.
- "Financial highlights of banks based in Hong Kong in 2022:" (PDF). KPMG China. Retrieved 30 June 2023.
- "DBS' operations in Hong Kong legally merged to become DBS Bank (Hong Kong) Limited". hk.dbs.com. Archived from the original on 20 September 2008. Retrieved 12 June 2020.
- Walker, Rupert (2010-08-17). "DBS makes two senior hires". FinanceAsia. Retrieved 2024-03-04.
- "DBS Completes Acquisition of ANZ". DBS Bank. September 11, 2017.
- "DBS HK opens 15,000 sqft Treasures Centre at 18 Queen's Road Central". Asian Banking and Finance. February 2, 2024.
- Feng, Bangyan; (1861). A Century of Hong Kong Financial Development. Joint Publishing Hong Kong. ISBN 962-04-2129-9.