DBS to open Shanghai FTZ branch

DBS Bank (China) Limited (DBS China) is set to start operating in the Shanghai Free Trade Zone (FTZ) this year, after receiving approval to run a branch there.

According to DBS China, the approval was obtained from the China Banking Regulatory Commission Shanghai Bureau on Tuesday.

"DBS China is among the first batch of financial institutions, and one of the first two foreign banks, to get the approval for setting up an outlet in the FTZ. The bank is now also among the first batch of foreign banks to receive operational approval for the Shanghai FTZ outlet," it said yesterday.