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DBS's digital strategy pays off in consumer, SME business

Digital transformation journey to pre-empt disruptors here has led to double-digit growth

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Published Fri, Nov 17, 2017 · 09:50 PM

    Singapore

    THE consumer and small and medium enterprise (SME) banking business in Singapore and Hong Kong is DBS Group's "jewel in the crown" that could contribute half of the bank's income in five years, chief executive Piyush Gupta said yesterday.

    Speaking to about 80 analysts and investors from around the world about DBS's digital strategy, Mr Gupta noted that between 2015 and 2017, this business has posted a compound annual growth rate of 11 per cent, far outpacing the overall 4 per cent growth recorded across the whole bank.

    DBS

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