DBS Bank India announced its financial results for the year ended March 31, 2009. In fiscal April 2008-March 2009, DBS Bank India recorded revenues of Rs.6,169 million, representing a 198% increase from Rs.2,073 million recorded for the same period last year. This was on the back of strong performances across all units of the bank.

Profits after tax for DBS grew to Rs. 2,590 million for the period, representing a 298% jump from Rs. 650 million in the previous period. At March 31, 2009, DBS? balance sheet grew to Rs. 125,646 million, up 38% from Rs. 90,864 million, reflecting all-round expansion of the business and enhanced customer relationships. Enhanced focus on client acquisition across business segments doubled the overall customer base.

With a net worth of Rs. 13,851 million and capital adequacy ratio of 15.70% as of March 31, 2009, DBS? operations in India are well-capitalised. During the year, DBS also brought in two tranches of Subordinated Debt capital (Tier 2) to facilitate business expansion.

Sanjiv Bhasin, GM & CEO, DBS Bank India, said: ?It was a year of challenges for corporates and low credit growth in India. We registered an impressive top line and bottom line growth despite an adverse economic environment by expanding our client base and engaging with them at various levels to understand their requirements and accordingly offer optimal solutions.?

As one of Asia?s leading financial services groups, DBS has long been aware of India?s growth potential, and its importance to the Bank?s regional expansion plans. DBS? key value proposition lies in its ability to provide an Asia-specific focus in its products and services.

?As a bank with a growing pan-Asian footprint, we are leveraging on our deep understanding of the region, local culture and insights to serve and build relationships with our customers in India. With 10 branches across the country, DBS is the first and largest Singapore bank in India. Supported by a strong, diverse and resilient Asian franchise and plans to rollout several new initiatives over the next few months, DBS is ideally poised to sustain its growth momentum. We are committed to building a universal banking franchise in India, and hope to work with the regulators to further expand our branch footprint ?, Mr. Bhasin further added.

During the year, DBS India won the prestigious ?AAA Rising Star Cash Management Award? awarded by ?The Asset? magazine.

Core to DBS? philosophy is its engagement with community, and the Bank?s Corporate Social Responsibility (CSR) program launch saw enthusiastic involvement from staff volunteers participating in several activities to support and facilitate the educational requirements of underprivileged children.

DBS continues to be an employer of choice to over 370 individuals across India. During the year, it hired over 150 staff across functions and levels to cater to its growing franchise.