iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

DBS opens a new IFSC branch in GIFT City

18 Jul 2023 , 11:41 AM

The largest bank in Singapore, DBS Bank Ltd., increased its presence in India on Monday by opening an IFSC Banking Unit (IBU) in Gandhinagar’s Gujarat International Finance Tec-City (GIFT City).

According to a DBS bank statement, the new division of the bank would primarily provide corporate banking services as well as loans denominated in foreign currencies, such as external commercial borrowings (ECB) and trade financing products.

In its first year of business, DBS Bank stated it aimed to amass a book worth more than $1 billion.

Future plans for DBS include adding private banking client solutions to its current portfolio of services.

DBS stated at the introduction of its new financial unit in Gandhinagar that the launching of the IBU in the GIFT International Financial Services Centre is a critical enabler for the bank’s expansion strategy for India.

Deputy Prime Minister of Singapore Lawrence Wong, as well as leaders from GIFT City, the Monetary Authority of Singapore (MAS), and the International Financial Services Centres Authority (IFSCA), were present for the new unit’s debut.

For feedback and suggestions, write to us at editorial@iifl.com

DBS Bank India clinches two awards at ET BFSI Excellence Awards 2021

Related Tags

  • DBS Bank
  • gift city
  • India
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.