DBS Hong Kong, China’s PSBC to offer services under Wealth Management Connect | Asian Business Review
, Hong Kong
288 views

DBS Hong Kong, China’s PSBC to offer services under Wealth Management Connect

PSBC is one of the largest state-owned banks in China.

DBS Bank (Hong Kong) and the Postal Savings Bank of China (PSBC) have teamed up to offer services under the Wealth Management Connect scheme.

Both banks plan to jointly provide investment products for individual investors in the Greater Bay Area (GBA), according to a spokesperson from PSBC, one of the largest state-owned banks in China, and the country’s leading retail bank. The bank targets Sannong customers (agriculture, rural areas, and farmers), urban and rural residents, and small and medium-sized enterprises.

The partnership is in accordance with guidance requirements for the scheme, as issued by the People’s Bank of China Guangzhou Branch, the Central Sub-Branch in Shenzhen and other regulatory bodies, the spokesperson added.

Sebastian Paredes, Chief Executive Officer of DBS Bank (Hong Kong), expressed the bank’s excitement to partner with PSBC to develop and offer wealth management services for GBA customers. 

“This strategic partnership creates mutually beneficial collaboration between PSBC and DBS Bank (Hong Kong). At the same time, it allows us to grow our GBA franchise, especially through PSBC’s extensive network in Guangdong.  We expect to combine DBS’ strong Asian connectivity and digital capabilities to provide customers with a more diversified and holistic range of investment choices to achieve their financial goals,” Paredes said.

Follow the link s for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Financial crimes to continue to squeeze bank profits
More sophisticated crooks and stricter rules are expected to increase compliance costs.
Hong Kong Residency rule could boost office sector
The ultra-rich are also expected to set up family offices in the city.
Food Innovators to serve up ‘anime’ diners in Singapore
CEO Kubota Yasuaki expects the city-state to become their gateway to other Asian countries.
Asia struggles with G20 payment targets
The ultimate goal is for cross-border payments to achieve “the speed of the internet.”