The banking group's new branch is aimed at serving wealthy individuals in the jurisdiction.
DBS Bank Taiwan, part of Singapore-headquartered DBS, has reportedly opened a branch in Taipei’s prime Xinyi District, pitched at wealthy clients.
The branch reflects the importance of the local market, where demand for private banking is growing fast, DBS Group head of consumer banking and wealth management Tan Su-shan told a celebration in Taipei, according to Taipei Times.
The branch targets clients with NT$30 million (around $1.0 million) in assets.
“DBS Treasures private client services is our Asia-focused wealth management platform that offers customers the best of private banking and consumer banking,” Dan is quoted as having said.
The banking group plans to launch iWealth, an all-in-one banking and wealth management platform, in Taiwan in the third quarter of next year, executives said.