DBS to spur investments in Greater Bay Area

Strong growth: A DBS Bank branch in Singapore. DBS recently reported second-quarter profit that topped estimates as net income soared 48% to S$2.7bil (US$2bil), fuelled by higher lending margins while fees also expanded. — Bloomberg

HONG KONG: DBS Group Holdings Ltd, South-East Asia’s largest bank, will increase investment and hiring in China’s Greater Bay Area as it expects growth in the region to outpace the rest of the country, according to the lender’s head of North Asia.

“There’s no reason not to be optimistic about the future and the long-term prospects of China,” Sebastian Paredes, who is also the chief executive officer of DBS Bank in Hong Kong, said on Bloomberg TV.