'Our network in asia gives us an edge'

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Shobhana Subramanian, Anita Bhoir : Mar 30 2011, 02:22 IST

Encouraged with the significant opportunity India presents, DBS Bank is happy to operate as a wholly-owned subsidiary in the country, says Sanjiv Bhasin, GM & CEO DBS Bank India. India is the third largest contributor to the DBS group’s revenues and Bhasin tells Anita Bhoir and Shobhana Subramanian that he wants to consolidate India’s position and increase its share of profits to around 15% from the current 10%.

How do you compete with the large full- service foreign banks in the country?

Over the past few years, DBS has built a network of branches that has grown from two to 12 and this has helped us build a customer franchise. In the past two years the bank has been focusing on wholesale banking with great emphasis on acquiring customers.

We are here for the long term with good representation in Asia.

Our network across Asia helps us capture trade and capital flows and also other transaction-based businesses. The Indian market is big and with GDP growing we have carved out a place for ourself. We intend to grow our balance sheet from Rs16,000 crore at the end of March 2010 to Rs25,000 crore by March 2011.

How do you achieve the planned growth in the balance sheet?

Until the beginning of last year our focus was largely on the corporate banking business and we have now forayed into consumer banking. Our retail banking strategy is largely centred around growing the current and savings account base and the wealth management piece.

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