DBS opens representative office in Bangladesh

DBS on Wednesday (Nov 16) said it will open a representative office in Dhaka, Bangladesh and has appointed Tahsina Banu as chief representative.

The move will expand the bank’s international presence to 19 markets globally. It is also part of its commitment to support its client’s expansion plans in the region, said DBS group head of institutional banking Tan Su Shan.

“In recent years, due to Bangladesh’s strategic location, it has emerged as a strategic gateway and a priority market for our clients who are tapping into intra-regional trade opportunities in South Asia and beyond,” she noted.

Furthermore, Bangladesh will have significant investment requirements in energy and infrastructure, which will likely occur through private-sector partnerships. DBS anticipates the most viable and practicable options for partners to come from North Asia and India.

While the bank has been active in the market through providing trade finance and advisory, it believes the establishment of the representative office, coupled with arranging mandates in project investments, would provide “further impetus” to the bank’s activities and more market connectivity for its global customers, it said.

Banu has more than two decades of experience working in global banks in Bangladesh and the Middle East. Her experience includes business and support functions, including wholesale banking, trade operations and risk management.