Branches of foreign banks with authority to operate a branch with full banking authority

CIRCULAR LETTER Series of 1995

TO : All Banks and Non-Bank Financial Intermediaries

For your information and guidance, the DEVELOPMENT BANK OF SINGAPORE (DBS Bank) which was granted authority to operate a branch with full banking authority has commenced operations on November 28, 1995.

This is in addition to the earlier announcements dated August 7 and October 11, 1995 on the commencement of banking operations of other branches of foreign banks, as follows:

Name of Foreign Bank

Date Opened

1. THE BANK OF TOKYO, LIMITED

April 3, 1995

2. KOREA EXCHANGE BANK

June 1, 1995

3. THE FUJI BANK, LIMITED

June 30, 1995

4. THE INTERNATIONAL COMMERCIAL BANK OF CHINA

July 4, 1995

5. INTERNATIONALE NEDERLANDEN BANK

July 10, 1995

6. DEUTSCHE BANK AG

July 14, 1995

7. BANGKOK BANK PUBLIC COMPANY, LIMITED (BANGKOK BANK)

August 11, 1995

8. CHEMICAL BANK

September 26, 1995

9. AUSTRALIA AND NEW ZEALAND BANKING GROUP, LIMITED (ANZ BANK)

October 2, 1995

GABRIEL C. SINGSON Governor