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DBS (Development Bank Of Singapore) Asia Hub expansion in India

dbs branch expansion in hyderabad

DBS Asia Hub 2, the technology development arm of Development Bank of Singapore operating in Hyderabad, is being expanded with the addition of one more, nearly two lakh sq. ft. facility here and recruitment of 1,000 professionals, primarily engineers.

With this, the total workforce in the city will rise to 3,000 from the current 2,000. DBS will invest about $ 50 million (about Rs 260 crore) for this expansion in about three years, said Mohit Kapoor, Head, and DBS Asia Hub2.

About 50 per cent of the technology tools and solutions used by DBS are made in Hyderabad, he said.

“We expect to employ one thousand more people in [the next] 12-18 months as we build new solutions,” DBS Bank India CEO Surojit Shome said.

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After DBS setup

Speaking to the media after opening the Hyderabad branch of the bank, he highlighted the role of DBS Asia Hub 2 for the Singapore-headquartered financial services group. “We build all over our products either in Singapore or in India and in collaboration. They are core drivers of our innovation,” he said.

Kapoor said DBS has so far taken about 2 lakh sqft office space in the city and has now booked another 2 lakh sqft. The new addition too will accommodate additional 2,000 people. However, recruitment for 1,000 is underway. It counts hackathons, lateral entries, linkedin as the main recruitment channels. “We will be looking at engineers and software technology skills. The key areas will be cloud, data analytics and security,” he said adding that the products technology made here will be for its six markets- India, China, Indonesia, Taiwan, Singapore and Hong Kong .

Recruitment

While recruitment was already under way, the centre was likely to take shape in the next 18 months.

On the recruitment process, he said hiring through hackathons was one of them. Mr. Shome said most of the 1,000 people to be recruited for the hub would be engineers and people with software skills. For DBS Group, 50% of the digital solutions are built out of the centre in Hyderabad.

With DBS Bank India Limited putting in place plans to expand its scale of operations through a phygital (physical+ digital) model, the DBS Asia Hub 2 will have to chip in with technology products. The hub was involved in the design of Digibank, a digital bank launched some two-and-half years ago. It now with about 2 million customers. DBS will be a long term player. On a query if it would consider its own campus, Kapoor said that there were no plans in this direction at this point of time. The hub, like with other technology establishments, has seen an attrition of about 12 per cent.

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