13 Jul '11, 9pm

New DBS initiative to help young start-ups

SINGAPORE - DBS Bank has launched Entrepreneur's Account for Start-ups, a banking account targeted at newly minted businesses that are less than six months old, in a bid to build its small and medium enterprise franchise in the Asian region. Mr Edwin Khoo, managing director and head of enterprise banking at DBS Bank, said: "For us (it is) to allow the new start-ups to be more affordable in terms of starting a bank relationship with us, giving them more convenience." The lender said the initiative will give some of the 50,000 companies set up in Singapore each year banking services at a lower cost as well as other value-added benefits. These include slashed rates on minimum deposits and waivers of subscription fees on several services. DBS is the first local bank to offer a business insurance plan at a highly subsidized rate as part of a comprehensive banking account for st...

Full article: http://www.todayonline.com/Business/EDC110714-0000072/New...

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