DBS / POSB
DBS has its headquarter in Singapore, with presence in China, Southeast Asia and South Asia. It is a leading financial services group in Asia.
The Development Bank of Singapore Ltd (DBS) was incorporated in 1968 to offer financing to manufacturing and processing industries with the aim of supporting the establishment of new industries and upgrading existing ones. The bank also supported development projects such as urban renewal and tourism schemes.
In 1998, DBS took over the POSB bank from the government and POSB was officially turned into a subsidiary of DBS. POSB was previously known as the Post Office Savings Bank. POSB was established in 1877 in the General Post Office, which is the Fullerton Hotel now.
Temasek Holdings, the Singapore government’s investment arm, is the largest shareholder of DBS.