DBS sets sights on dim sum bonds as millionaire grip grows

Not the time to rest on its laurels.

According to a report by Bloomberg, DBS Group Holdings Ltd. (DBS), the Southeast Asian bank which wants to manage more millionaires’ money, has its sights set on becoming a bigger player in the Dim Sum bond market.

The Singapore-based lender is this year’s fourth-biggest arranger of offshore yuan-denominated notes, pushing Agricultural Bank of China Ltd. out of the top 10 for the first time since 2010. It’s helped to arrange 7.4 percent of sales since Dec. 31, compared with 3.1 percent in 2013, when it ranked 10th, Bloomberg-compiled data show.

Read full report here.

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