About Us

PeadquarLered ln Lhe commerclal caplLal of Mumbal u8S operaLes vla a neLwork of 12 bank branches across
lndla ln 8engaluru Chennal Cuddalore kolkaLa kolhapur Moradabad Mumbal nashlk new uelhl une
Salem and SuraL
u8S ls acknowledged as lndla's 8esL lorelgn 8ank (llnanclal LxpressL? Survey lndlas 8esL 8anks 2010)
lndlas 8esL Small 8ank (8uslness 1odaykMC Survey lndlas 8esL 8anks 2009 2010) and lndlas lasLesL
Crowlng Small 8ank (8uslness 1odaykMC Survey lndlas 8esL 8anks 2009 2010 and 8uslnessworldwC
Survey lndlas 8esL 8anks 2010) lL ls also Lhe reclplenL of 8lslng SLar Cash ManagemenL 8ank Award whlch lL
has won for Lhree years ln successlon (1he AsseL 1rlple A 1ransacLlon 8anklng Awards 2009 2010 2011)
A repuLed name ln Lhe wholesale banklng u8S provldes a wlde range of corporaLe and lnvesLmenL banklng
servlces lncludlng corporaLe lendlng Lreasury servlces LransacLlon servlces and mergers and acqulslLlons
(MA) advlsory servlces Lo corporaLes flnanclal lnsLlLuLlons and small and mldLler cllenLs across lndusLrles
and segmenLs ln Lhe personal banklng domaln u8S offers a range of wealLh managemenL producLs Lo sulL Lhe
myrlad and evolvlng needs of lLs cusLomers 1hese lnclude nonresldenL lndlan (n8l) Servlces wlLh producLs
Lallored Lo sulL Lhe banklng needs of cusLomers worklng or llvlng ouLslde lndla and u8S 1reasures an
excluslve wealLh managemenL servlce offered Lo Lhe banks mosL valued cllenLs Lo help meeL Lhelr flnanclal
asplraLlons
u8S LrysL wlLh lndla began ln 1994 when lL sLarLed lLs operaLlons vla a represenLaLlve offlce ln Mumbal whlch
was qulckly upgraded Lo a formal bank branch a year laLer 1he second bank branch was opened ln new uelhl
ln 2003 ln 2008 u8S recelved a ma[or boosL Lo lLs lndla growLh plans when lL recelved approvals from Lhe
8eserve 8ank of lndla Lo esLabllsh elghL more branches 1hese were prompLly opened ln Lhe flnanclal year
200809 resulLlng ln a naLlonwlde presence for u8S across Lhe lengLh and breadLh of Lhe counLry u8S ls
commlLLed Lo bulldlng a unlversal banklng franchlse ln lndla wlLh a slgnlflcanL presence across buslness
cllenLs producLs and servlces
1oday u8S ls Lhe employer of cholce Lo over 300 people ln lndla and ls acLlvely lnvolved ln Lhe communlLy
Lhrough lLs parLnershlps wlLh esLabllshed charlLable organlsaLlons servlng Lhe purpose of provlng hollsLlc
educaLlon Lo underprlvlleged chlldren
D8S L|v|ng 8reath|ng As|a
u8S ls a leadlng flnanclal servlces group ln Asla wlLh over 200 branches across 13 markeLs PeadquarLered and
llsLed ln Slngapore u8S ls a markeL leader ln Slngapore wlLh over four mllllon cusLomers and also has a
growlng presence ln Lhe Lhree key Aslan axes of growLh namely CreaLer Chlna SouLheasL Asla and SouLh Asla
1he banks sLrong caplLal poslLlon as well as AA and Aa1 credlL raLlngs LhaL are among Lhe hlghesL ln Lhe
Aslaaclflc reglon earned lL Clobal llnances SafesL 8ank ln Asla accolade for Lhree consecuLlve years ln
2009 2010 and 2011
u8S provldes Lhe full range of servlces ln consumer SML and corporaLe banklng acLlvlLles across Asla and Lhe
Mlddle LasL As a bank born and bred ln Asla u8S also undersLands Lhe lnLrlcacles of dolng buslness ln Lhe
reglon's mosL dynamlc markeLs 1hls markeL lnslghL and reglonal connecLlvlLy have helped Lo drlve Lhe bank's
growLh as lL seLs ouL Lo be Lhe Aslan bank of cholce 1he bank belleves LhaL bulldlng lasLlng relaLlonshlps wlLh
lLs cusLomers ls an lnLegral parL of banklng Lhe Aslan way
WlLh lLs exLenslve neLwork of operaLlons ln Asla and emphasls on engaglng and empowerlng lLs sLaff u8S
presenLs exclLlng career opporLunlLles 1he bank acknowledges Lhe passlon commlLmenL and cando splrlL ln
all of our 17000 sLaff represenLlng over 30 naLlonallLles lor more lnformaLlon please vlslL wwwdbscom


SCML lMC81An1 nLWS nuCCL1S
SL1 2011
D8SAM S|ngapore to be renamed N|kko Asset Management As|a L|m|ted
1he LransacLlon boosLs nlkko AM's asseLs under managemenL by uSu79 bllllon
1
Lo over uSu163 bllllon
2
and
esLabllshes nlkko AM as Lhe largesL reglonal asseL manager headquarLered ln Asla
1he agreemenL lnvolves nlkko AM acqulrlng u8SAM for SCu137 mllllon (uSu104 mllllon) u8S has ln Lurn
acqulred a 723
3
lnLeresL of Lhe enlarged nlkko AM formlng a sLraLeglc alllance beLween Lhe Lwo companles
As parL of Lhe alllance u8S and nlkko AM have enLered lnLo a nonexcluslve dlsLrlbuLlon agreemenL Lhrough
whlch nlkko AM's lnvesLmenL producLs can be dlsLrlbuLed LhroughouL u8S' neLwork of core markeLs ln Lhe
reglon 1hls arrangemenL brlngs LogeLher Lwo awardwlnnlng flrms wlLh complemenLary sLrengLhs across
producLs lnvesLmenL plaLforms and dlsLrlbuLlon channels 1he comblned plaLform wlll be a sLrong source of
producL manufacLurlng sales supporL and Lralnlng for u8S
u8SAM wlll conLlnue Lo operaLe under Lhe legal name u8S AsseL ManagemenL LLd unLll lLs new legal ldenLlLy
as nlkko AsseL ManagemenL Asla LlmlLed" (nlkko AM Asla") comes lnLo effecL on or around CcLober 17 1he
ma[orlLy of u8SAM's funds wlll be renamed "nlkko AM ShenLon"
Lmployees of nlkko AM's subsldlary ln Slngapore nlkko AsseL ManagemenL Slngapore LlmlLed (nAMS") wlll
Lransfer Lo nlkko AM Asla wlLhln Lhe nexL few weeks and LhereafLer nlkko AM Asla wlll comprlse Lhe
lnLegraLed lnvesLmenL capablllLles and operaLlons of u8SAM and nAMS 1he enlarged Slngapore asseL
manager wlll provlde broad lnvesLmenL managemenL experLlse across Aslan equlLles and Aslan flxed lncome
nlkko AsseL ManagemenL (nlkko AM) ls Lhe largesL reglonal asseL managemenL company headquarLered ln
Asla WlLh Lhe addlLlon of u8SAM nlkko AM's LoLal AuM ls over uS$163 bllllon


Lounches new nNwl p/otform u85 1reosures Privote c/ient unvei/s inouquro/
brondinq compoiqn torqetinq 4sios mi//ionoires
SlnCAC8L 20 SepLember 2011 u8S 8ank whlch has made sLrldes Lo bulld ouL lLs wealLh franchlse over Lhe
pasL year Loday announced plans Lo lnvesL a furLher SCu 230 mllllon over flve years Lo Lake prlvaLe banklng ln
Asla Lo a new level 1he lnvesLmenL relnforces u8S' commlLmenL Lo execuLlng agalnsL sLraLegy Lo become a
leadlng wealLh manager ln Asla ln llne wlLh one of Lhe bank's sLraLeglc prlorlLles
unllke LradlLlonal prlvaLe banks LhaL are sLandalone enLlLles wlLh a sLandardlsed approach Lo servlng PnWls as
parL of an amblLlous growLh plan u8S Loday offlclally launched u8S 1reasures rlvaLe CllenL ln Slngapore and
Pong kong as an exLenslon of Lhe u8S rlvaLe 8ank offerlng WlLh Lhls launch u8S ls now unlquely placed as lL
can provlde Lwo dlsLlncL plaLforms Lo caLer Lo Lhe fasLgrowlng populaLlon of PnWls ln Asla
O u8S 1reasures rlvaLe CllenL a newlycreaLed plaLform ls speclally deslgned for cllenLs wlLh lnvesLlble
asseLs of SCu 13 mllllon and up 1he plaLform offers a unlque palrlng of personallsed banklng and
prlvaLe banklng soluLlons provldlng cusLomers wlLh access Lo a comprehenslve range of lnvesLmenL
producLs and servlces coupled wlLh Lhe ease of banklng and prlorlLy access aL u8S' neLwork of over
200 branches ln Asla SlgnlflcanLly cusLomers are also able Lo access all consumer and prlvaLe banklng
servlces easlly vla a slngle Louch polnL
O u8S rlvaLe 8ank for PnWls wlLh over SCu 3 mllllon ln asseLs 1he prlvaLe bank whlch has been
slgnlflcanLly enhanced provldes bespoke soluLlons Lo wealLhy lndlvlduals who wanL Lhelr personal
wealLh and buslness needs Lo be Laken care of ln a seamless manner ln addlLlon Lo a broad range of
lnvesLmenL producLs and servlces u8S rlvaLe 8ank cllenLs wlll also be able Lo Lap lnLo Lhe bank's
experLlse ln corporaLe lendlng caplLal markeLs and lnvesLmenL banklng
Deepened 8ench Strength

1o supporL lLs growLh amblLlons u8S conLlnues Lo lnvesL ln people As aL endAugusL 2011 u8S
WealLh ManagemenL employs nearly 430 sLaff across Lhe reglon Lo serve PnWls Colng forward Lo
grow Lhe PnWl segmenL u8S wlll focus on sLrengLhenlng lLs prlvaLe banklng headcounL ln Chlna
whlch remalns one of lLs fasLesLgrowlng markeLs ln addlLlon u8S rlvaLe 8ank wlll also esLabllsh an
lnLernaLlonal desk coverlng Lhe Mlddle LasL and oLher lnLernaLlonal emerglng markeLs by end 2011 Lo
Lap rlslng demand for wealLh managemenL servlces ln Lhese reglons and Lhe growlng lnLeresL ln
lnvesLlng ln Asla
Deve|oped More Innovat|ve So|ut|ons

lollowlng Lhe lnLernaLlonallsaLlon of Lhe 8M8 u8S was a flrsLmover ln Lhe CnP space Movlng
forward u8S wlll roll ouL more producLs such as prlvaLe equlLy funds and hedge funds ln Lhe
alLernaLlves space 1he bank wlll also conLlnue Lo offer more bespoke Aslan producLs Lo help
cusLomers unlock lnvesLmenL opporLunlLles ln Lhe reglon AparL from a wlde range of AslancenLrlc
lnnovaLlve wealLh managemenL offerlngs u8S also provldes Lallormade premlum Lravel and lelsure
servlces Lo complemenL Lhe PnWl llfesLyle
Lnhanced Customer 1oucho|nts

As parL of Lhe expanslon plan u8S recenLly enhanced lLs lnLerneL banklng (l8anklng) and moblle banklng
(m8anklng) plaLform for PnWls CusLomers are now able Lo convenlenLly vlew Lhelr lnvesLmenL porLfollos on
Lhe go vla m8anklng ln addlLlon Lhe l8anklng plaLform offers a consolldaLed vlew of lnvesLmenL holdlngs as
well as oLher deLalls lncludlng credlL card savlngs and flxed deposlL accounLs aL a glance 1hls onllne plaLform
whlch lnLegraLes reLall banklng and prlvaLe banklng ls Lhe flrsL of lLs klnd Lo be launched by a prlvaLe bank ln
Asla
8ecenLly u8S was named SafesL 8ank ln Asla" for Lhe Lhlrd consecuLlve year ln Clobal llnance's 20Lh annual
ranklng of Lhe world's safesL banks
D8S CnINA'S LAkNINGS IN IIkS1 nALI CI 2011 A1 kLCCkD nIGn NL1 kCII1 kLGIS1LkS 160 LAkCN
LAk GkCW1n
***
keaff|rms comm|tment to further strengthen |ts franch|se |n Ch|na

CPlnA SlnCAC8L 13 SepLember 2011 u8S 8ank (Chlna) LLd a subsldlary of u8S 8ank LLd sald Loday lL
conLlnues Lo reglsLer sLrong growLh wlLh 2011 halfyear earnlngs surpasslng lLs 2010 fullyear earnlngs ln Lhe
flrsL half of 2011 u8S Chlna's neL proflL rose 160 compared Lo a year ago Lo a record hlgh ConcurrenLly
deposlLs grew by 90
D8S LS1A8LISnLS USD S 8ILLICN
LUkCCCMMLkCIAL ALk kCGkAMML
SlnCAC8L 1 AugusL 2011 u8S 8ank LLd (u8S") has esLabllshed a uSu 3 bllllon LuroCommerclal aper
rogramme (Lhe rogramme") under whlch u8S may lssue eurocommerclal paper noLes (Lhe noLes")
CredlL Sulsse (Slngapore) LlmlLed and u8S are Lhe Arrangers of Lhe rogramme 8anc of Amerlca SecurlLles
LlmlLed CredlL Sulsse SecurlLles (Lurope) LlmlLed u8S ueuLsche 8ank AC London 8ranch and Coldman Sachs
lnLernaLlonal have been appolnLed as uealers under Lhe rogramme
neL proceeds from Lhe lssue of noLes under Lhe rogramme wlll be used for Lhe general buslness purposes of
u8S and lLs consolldaLed subsldlarles
Cn|y bank to prov|de export factor|ng |n Indones|a obta|ned ICI membersh|p |n Ind|a
SINGACkL 21 Apr|| 2011 u8S 8ank execuLlng agalnsL sLraLegy Lo bulld a leadlng Clobal 1ransacLlon
Servlces (C1S) buslness sLrengLhened lLs facLorlng capablllLles ln lndla and lndonesla glvlng lL Lhe largesL
reglonal facLorlng neLwork for an Aslan bank WlLh Lhe laLesL lnlLlaLlves u8S now offers facLorlng faclllLles ln lLs
slx key markeLs across Asla namely Slngapore Pong kong Chlna lndla lndonesla and 1alwan 1he bank ls a
leadlng facLorlng provlder ln Slngapore and Pong kong
ln March Lhls year u8S lnLroduced exporL facLorlng ln lndonesla maklng lL Lhe only bank Lo offer Lhls soluLlon
ln Lhe markeL ln more Lhan a decade followlng Lhe Asla flnanclal crlsls of 19971998 u8S lndonesla ls also Lhe
flrsL lndoneslan member of lacLors Chaln lnLernaLlonal (lCl) a leadlng organlsaLlon for lndependenL facLorlng
companles wlLh Lhe largesL facLorlng neLwork ln Lhe world ln addlLlon u8S lndla obLalned lCl membershlp ln
!anuary Lhls year whlch allows lL Lo expand Lhe sulLe of facLorlng soluLlons lL can offer ln Lhe counLry
LasL year lndonesla reporLed a 33 lncrease ln LoLal exporLs nonoll exporLs rose 33 wlLh !apan Chlna and
Lhe unlLed SLaLes as Lhe Lhree maln exporL desLlnaLlons ln splLe of Lhe growlng exporL flgures unLll u8S
lndonesla Lrallblazed Lhe provlslon of facLorlng servlces lasL monLh lndoneslan exporLers dld noL have access
Lo Lhese soluLlons LhaL would enable Lhem Lo compeLe effecLlvely agalnsL oLher players
Lstab||shment of un|t makes D8S the on|y As|an bank to offer
adv|ce and so|ut|ons |n the space wh|ch |s
see|ng keen |nterest from customers across the reg|on
SlnCAC8L 21 March 2011 u8S 8ank whlch ls lnvesLlng SCu 230 mllllon over Lhe nexL flve years Lo grow lLs
1reasury MarkeLs (1M) buslness ln Lhe reglon sald lLs newly seLup sLrucLured debL soluLlons capablllLy ls
seelng keen lnLeresL from Aslan cusLomers lnLeresLed ln ldenLlfylng fundlng alLernaLlves as well as seeklng
opLlons Lo opLlmlse Lhelr caplLal sLrucLure and balance sheeLs due Lo lmpendlng regulaLory changes such as
8asel lll
u8S seL up Lhe sLrucLured debL soluLlons capablllLy ln !uly 2010 ln anLlclpaLlon LhaL Lhe markeL ls expecLed Lo
grow as economlc and markeL condlLlons lmprove 8egulaLory changes and reform wlll also drlve Lhe growLh
of Lhe buslness 1he esLabllshmenL of Lhls Leam wlLhln 1M makes u8S Lhe only Aslan bank offerlng advlce
and soluLlons ln Lhe sLrucLured debL and securlLlsaLlon space
AsseL securlLlsaLlon can beneflL companles by creaLlng regulaLory caplLal efflclency as ln Lhe case of
flnanclal lnsLlLuLlons and lmprovlng Lhelr reLurn on equlLy CuLslde Lhe banklng lndusLry Lhere ls also
renewed lnLeresL ln securlLlsaLlon as Lhls presenLs an alLernaLlve fundralslng avenue for corporaLes
and lnsLlLuLlonal cusLomers
1hese lnclude soluLlons ln Lhe sLrucLured debL commodlLles derlvaLlves and offshore 8M8 space 1he
conference also hlghllghLed hedglng producLs and soluLlons provlded by u8S whlch can help cllenLs
lock ln galns and reduce volaLlllLy Lhrough Lhe buslness cycle and agalnsL unforeseen evenLs 1he
conference was well aLLended aLLracLlng over 200 corporaLe cusLomers from Slngapore lndonesla
lndla and SouLh korea
u8S 1M ls lnvolved ln Lhe Lradlng of forelgn exchange lnLeresL raLes equlLy credlL flxed lncome lnsLrumenLs
and Lhe provlslon of lnvesLmenL and rlsk advlsory servlces lL has a geographlc presence ln Slngapore Pong
kong Chlna lndla lndonesla SouLh korea and 1alwan
ln 2010 1M recorded revenues of SCu 19 bllllon up 12 from Lhe prevlous year as crosssell of 1M
producLs Lo Lhe banks lnsLlLuLlonal prlvaLe banklng and mass affluenL cllenLs galned momenLum
u8S ls conslsLenLly recognlsed for Lhe sLrengLh of lLs 1M franchlse Accolades won ln 2010 lnclude 8eglonal
Pouse of Lhe ?ear and Slngapore Pouse of Lhe ?ear by Asla 8lsk 8esL uerlvaLlves Pouse ln Slngapore by
1he AsseL Award for 1reasury and ALM roducLs and Servlces by 1he Aslan 8anker and 8esL lorelgn
Lxchange 8ank ln Slngapore by llnanceAsla Aslamoney and Clobal llnance
D8S 8ANk LAUNCnLS "8LnIND 1nL SCLNLS Q D8S" AN INNCVA1IVL
kLCkUI1MLN1 INI1IA1IVL 1C A11kAC1 1ALLN1

***

Under||nes the bank's comm|tment to |dent|fy|ng and nurtur|ng future |eaders
to support D8S' strong growth across As|a
SlnCAC8L 22 SepLember 2011 u8S 8ank Loday launched a 8ehlnd Lhe Scenes [ u8S" Lour an lnnovaLlve
recrulLmenL lnlLlaLlve Lo reach ouL Lo graduaLlng sLudenLs aL Lhe Lhree Slngapore unlverslLles 1he move
underllnes Lhe bank's commlLmenL Lo ldenLlfylng and nurLurlng fuLure leaders Lo supporL u8S' sLrong growLh
across Asla
1hls Lour whlch glves poLenLlal employees a rare opporLunlLy Lo have a behlndLhescenes look aL u8S
supplemenLs oLher lnlLlaLlves such as career falrs and campus Lalks by Lhe bank Lo engage and recrulL young
LalenL
1hese efforLs have been wellrecelved lor example Lhe u8S ManagemenL AssoclaLe rogramme whlch
Lyplcally hlres abouL 70 hlghpoLenLlal graduaLes each year reglonally aLLracLed over 9000 appllcaLlons for Lhe
AugusL 2011 lnLake
1hls year u8S also lnLroduced Lhe 1echnology CperaLlons CraduaLe LxecuLlve rogramme ln Slngapore a
24monLh lnLenslve hlghproflle lnducLlon across varlous Lechnology and operaLlons funcLlons wlLhln Lhe
bank 1he reglonal programme whlch ls deslgned for young LalenL ln Asla recelved over 700 appllcaLlons for
37 poslLlons
1he 8ehlnd Lhe Scenes [ u8S" Lour aLLracLed abouL 90 parLlclpanLs from naLlonal unlverslLy of Slngapore
nanyang 1echnologlcal unlverslLy and Slngapore ManagemenL unlverslLy
lor example u8S flnanced Slngapore's flrsL mulLlsLorey shopplng mall laza Slngapura and ploneered Lhe
anchor LenanL concepL whlch was a creaLlve markeLlng concepL for reLall space ln 1973
lour years laLer u8S underLook Lhe largesL commerclal developmenL ln Slngapore wlLh 8affles ClLy a masslve
pro[ecL comprlslng hoLel offlce convenLlon cenLre and shopplng faclllLles wlLh lnvesLmenL exceedlng SCu 1
bllllon 1hls was a caLalysL for Lhe Slngapore governmenL's vlslon of developlng Lhe clLy sLaLe lnLo a ma[or
convenLlon cenLre
uevelopmenL 8ank of Slngapore lans Subsldlary ln lndla
osLed SaL !an 29 2011 | 12 M lS1
new uelhl !an 29 uevelopmenL 8ank of Slngapore (u8S) Slngaporebased lender plans Lo seL up lLs
subsldlary ln lndla Many forelgn banks are operaLlng ln lndla as subsldlarles or branches of whlch
mosL of Lhem lncludlng u8S currenLly work as branch raLher Lhan subsldlary

Looklng poslLlvely Lowards subsldlary rouLe Lhe bank ls walLlng for 8eserve 8ank of lndlas (88ls) flnal
guldellnes on forelgn banks 1he guldellnes are supposed Lo clarlfy Lhe Lax lmpllcaLlons of converLlng branches
lnLo whollyowned subsldlarles

1he expecLaLlon of 88l would be LhaL forelgn banks whlch become sysLemlcally lmporLanL because of Lhelr
balance sheeL slze would volunLarlly converL Lhemselves lnLo a wholly owned subsldlary sald 88l ln a
dlscusslon paper on Lhe role of forelgn banks

u8S lndla aL presenL focuses on wholesale banklng and ls wllllng go reLall wlLh savlngs bank accounL lL ls
Lhlnklng Lo ralse LradlLlonal CASA deposlL base LhaL ls currenLly only 22 for Lhe bank
k8I seeks onet|me tax re||ef to arm MNC banks
1he 8eserve 8ank of lndla has soughL a oneoff Lax exempLlon from Lhe governmenL for forelgn banks LhaL
converL lnLo local subsldlarles as lL lnLenslfles efforLs Lo rlngfence Lhe domesLlc flnanclal sysLem from global
shocks
1he permlsslon lf granLed by Lhe governmenL LhaLs already faclng wldenlng flscal gap may lead Lo Lhousands
of crores of noLlonal revenue loss
lL ls llkely LhaL Lhe forelgn banks whlch have aLLalned a parLlcular asseL slze may be asked Lo converL lnLo
whollyowned subsldlarles 88l ls also expecLed Lo exLend Lhe branch llcenslng pollcy appllcable for domesLlc
banks Lo forelgn banks Llke domesLlc banks Lhey would have Lo ensure LhaL aL leasL 23 of Lhelr branches are
ln unbanked rural cenLres sald a banker famlllar wlLh Lhe proposal
88l may make lL mandaLory for forelgn banks Lo operaLe vla whollyowned unlLs
osLed Mon May 9 2011 | 739 M lS1
new uelhl May 9 lndlan banklng regulaLor 8eserve 8ank of lndla wlll llkely make lL mandaLory for forelgn
banks Lo operaLe ln Lhe counLry as whollyowned subsldlarles as agalnsL Lhe currenL pracLlce of operaLlng vla a
branch Lo beLLer regulaLe Lhelr operaLlons 1he Lconomlc 1lmes reporLed
1he new banks and small banks wlll be dlrecLed Lo converL lnLo whollyowned subsldlarles whlle Lhe larger
banks wlll be glven some Llme Lo lmplemenL Lhe norms LhaL are llkely Lo be announced by !une Lhe paper sald

CurrenLly mosL overseas banks operaLe ln lndla Lhrough Lhelr branches Such banks wlll be asked Lo seL up a
subsldlary under Lhe Companles AcL and operaLe as an lndlan enLlLy

ln Lhe counLrles llke Slngapore lL ls mandaLory for Lhe banks Lo run Lhrough whollyowned subsldlarles
Larller !anuary Lhe cenLral bank lssued drafL guldellnes on Lhe mode of operaLlons for forelgn banks ln lndla
1he 88l plans Lo have beLLer conLrol over worklng of forelgn banks ln llne wlLh Lhe lnLernaLlonal pracLlce

CurrenLly 34 forelgn banks are operaLlonal ln lndla wlLh flve ma[or banks lncludlng SLandard CharLered
PS8C ClLlbank and ueuLsche 8ank
lorelgn 8anks uemand arlLy wlLh uomesLlc layers
osLed Mon leb 28 2011 | 12 M lS1
new uelhl leb 28 lorelgn banks operaLlng ln lndla seek parlLy wlLh lndlan counLerparLs for Lhelr wholly
owned subsldlarles Larller some forelgn banks had urged 8eserve 8ank of lndla (88l) Lo allow level playlng
fleld for lLs WCS 88l ln lLs drafL paper released ln uecember 2010 encouraged forelgn banks Lo converL Lhelr
branch operaLlons lnLo whollyowned subsldlarles ln Lhe counLry

ln Lhe 88l dlscusslon paper forelgn banks expressed LhaL Lhe dlsLlncLlon beLween Lhem and lndlan prlvaLe
banks wlLh ma[orlLy forelgn sLake would be done away wlLh ln case Lhey opL Lo converL Lhelr branch
operaLlons lnLo whollyowned subsldlarles

1he governmenL ls Lrylng Lo dlsLlncL clearly Lhe forelgnowned banks enLlLy from lndlan banks wlLh ma[orlLy
forelgn holdlng lurLher Lhe governmenL had cleared LhaL Lhe forelgn banks have same fooLlngs as Lhe
naLlonallzed banks as Lhey were lncorporaLed ln lndla even Lhough Lhelr ownershlp ls ln forelgn hands
8 branch nods buL u8S won'L do reLall
MuM8Al Cn March 23 uevelopmenL 8ank of Slngapore recelved 8eserve 8ank of lndla permlsslon Lo open
elghL branches 1he branches spread across une naslk 8angalore Chennal kolkaLa Moradabad Salem
and SuraL had ralsed expecLaLlons LhaL u8S wlll [ump lnLo Lhe reLall banklng markeL
Powever Lhe bank has no such plans and wlll conLlnue Lo focus on exlsLlng buslnesses ln Lhe counLry chlef
execuLlve offlcer ranam Wahl Lold unA Money
u8S plans Lo roll ouL all Lhe elghL branches by Lhe end of Lhls year
WlLh Lhese elghL branches 1he baslc plaLform has been seL we have Lhe producLs and we only plan Lo scale
up from here We see Lhls as Lhe flrsL sLage ln lndla and ln SLage 1 we wlll conLlnue Lo look aL Lhe mass
affluenL We wlll noL be a mass markeL bank" Wahl sald
u8S's buslnesses ln Lhe counLry lnclude wealLh managemenL for hlgh neLworLh lndlvlduals servlclng
companles and flnanclal lnsLlLuLlons LogeLher wlLh small and medlum enLerprlses (SMLs) Wahl sald Lhe bank
wlll conLlnue wlLh Lhose and ls noL looklng enLerlng lnLo reLall phase ln Lhe flrsL sLage
SLage 1 wlll lasL for Lhe nexL Lwo years lL's been hecLlc for Lhe lasL four years and cerLalnly now wlLh Lhe new
llcenses Lhe pace wlll change ln Lhe flrsL sLage wlLh Lhe branches comlng up we wlll lncrease our headcounL
by 30 1haL means addlng anoLher 100130 people" Wahl sald
u8S has been ln lndla slnce 1994 Powever bank llcenses have been dlfflculL Lo come by 1he bank opened lLs
second branch ln new uelhl only ln 2003 Slnce Lhen lLs branch llcense appllcaLlons sLalled as Lhe 88l
MoneLary AuLhorlLy of Slngapore and Lhe governmenLs of Lhe Lwo counLrles could noL agree on lssues
perLalnlng Lo corporaLe lnvesLmenLs
AfLer u8S was glven llcenses ln March however Slngapore awarded Lhe SLaLe 8ank of lndla quallfylng full
bank" llcense Lo open new reLall banklng branches lClCl 8ank ls also ln llne for branch llcenses ln Slngapore
Wahl Lold unA Money LhaL u8S ls exclLed" abouL lLs new branches and ls noL rulng Lhe delay or Lhlnklng
abouL fuLure expanslon
8lghL now we are happy wlLh whaL we have goL We goL whaLever we asked for We goL all Lhe branches ln
Lhe locaLlons we asked for" Wahl sald
8esldes lLs banklng buslness u8S also has a nonbanklng flnance company ln parLnershlp wlLh Lhe Chennal
based $163 bllllon Murugappa group Cholamandalam u8S flnance caLers Lo Lhe mass markeL offerlng
personal loans vehlcle flnance and corporaLe flnance
Wahl sald Lhe venLure wlLh Murugappa wlll sLay as Lhe bank and Lhe n8lC caLer Lo dlfferenL markeLs
Cur banklng buslness and our [olnL venLure wlLh Cholamandalam are muLually excluslve Cholamandalam and
Lhe bank are noL dolng Lhe same buslness 1hey have a space ln consumer flnance We do wealLh managemenL
and corporaLe banklng we don'L do Lruck flnance auLo flnance and home equlLy" Wahl sald
u8S ls almlng Lo be Lhe preferred bank for lndlan companles dolng buslness ln SouLh LasL Asla and for
companles from LhaL reglon dolng buslness ln lndla
1here have already been so many developmenLs wlLh 1aLa SLeel buylng naLSLeel ln Slngapore and Mlllennlum
SLeel ln 1halland un[ Lloyd has also acqulred SembCorp LC ln Slngapore Also Lhere ls a blg opporLunlLy wlLh
Lhe lncrease ln Lrade beLween lndla and Chlna" Wahl sald
8esldes Slngapore ls also a very lmporLanL place for real esLaLe lnvesLmenL LrusLs wlLh 63 of Lhe surplus
funds ln Asla Such funds are also caLchlng up ln lndla"