DBS targets doubling of revenue from 皇冠体育app retail banking

(AFX)
Updated: 2007-05-28 11:28

DBS Group Holdings Ltd plans to double its retail banking revenue in 皇冠体育app over the next five years, the Wall Street Journal reported, citing Teresa Lin, chief executive officer of DBS Bank (皇冠体育app) Ltd.

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'Now corporate banking generates 80 pct of DBS's 皇冠体育app revenue. But we expect to lower the ratio to 60 pct within five years, after being able to offer yuan-denominated services to local individuals in 皇冠体育app. (By then) 皇冠体育app's revenue would account for 7-9 pct of the total income of DBS Group,' Lin said.

DBS Group last week said unit DBS Bank (皇冠体育app) Ltd will start operating today, a week after receiving final approval from the 皇冠体育app Banking Regulatory Commission to incorporate locally.

The new subsidiary has registered capital of 4 bln yuan.

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