Why Asia’s Biggest 'DBS Bank' Is Now Bullish On India?

Since it began operations in India a little over a decade ago, Singapore’s DBS bank has opened around 12 branches in the country. In the next five years, however, it wants to open five times that number.

Last week, DBS—Southeast Asia’s largest bank, by assets—said it has applied to the Reserve Bank of India (RBI) to set up a subsidiary. Piyush Gupta, the bank’s India-born chief executive officer, said the application was submitted in April, which includes a plan to open about 50-75 branches over the next three to five years.