DBS Group Holdings, Southeast Asia’s biggest bank, plans to boost its workforce in China by about 25% this year after profit doubled in 2011 and as it seeks to reduce reliance on Singapore, reported Bloomberg.
The bank aims to add about 400 employees in China, with most in corporate banking, taking the total to 2,000, said Melvin Teo, chief executive officer of DBS China. The company increased its staff by 42% last year.
The bank aims to add about 400 employees in China, with most in corporate banking, taking the total to 2,000, said Melvin Teo, chief executive officer of DBS China. The company increased its staff by 42% last year.
Revenue in China rose 65% in 2011 to about 1.9 billion yuan ($382 million), while net income doubled to exceed 500 million yuan, the bank said today. Greater China now contributes about 29% of the group’s revenue and the%age may increase to 33% in the next few years, according to Chief Executive Officer Piyush Gupta.
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