DBS eyes growth from financial institutions business

Singapore

DBS expects its financial institutions group to double in revenue to S$1 billion over the next three to five years, and is in advanced stages to apply for a licence in Japan that would allow it to distribute investment products onshore, a senior executive said on Monday.

The bank wants to take advantage of the big growth in assets under management (AUMs) in Asia that would be boosted by accommodative regulations to liberalise capital markets in this part of the world.