Shares in Singapore-listed DBS surged by 3.5% today after the bank mooted a major drive into the Hong Kong market.
Having expanded into Indonesia earlier this year, the bank revealed it would mount a similar drive into the Hong Kong market next year.
DBS’ Digibank brand has seen much success in the India market where it launched the nation’s first exclusively online service in 2016, having recently passed the milestone of one million Indian customers.
The Hong Kong service is expected to be in much the same vein as its Indian proposition.
Earlier this month, DBS reported net profit of SGD822m ($605m) for the third quarter of 2017, as quarterly total income crossed the SGD3bn mark for the first time, rising 4% year-on-year.