DBS gets nod to set up JV securities company in China

Businesses that DBS Securities will engage in include brokerage, securities investment consulting, securities underwriting and sponsorship, as well as proprietary trading.

SINGAPORE: DBS Group has received the green light from the China Securities Regulatory Commission to establish a joint-venture (JV) securities company known as DBS Securities (China), in which DBS will have a controlling stake of 51%.

The JV company will provide onshore products and services for both domestic and international customers, forming an important part of DBS’ strategy in China, according to a statement by Singapore’s largest bank.