Singapore bank DBS secures China bond underwriting licence

Group 1 - DBS Group Holdings, Singapore's largest bank by assets, has received a principal underwriting license for non-financial corporate bonds in China's interbank bond market [1] - The license allows DBS to lead-manage all onshore corporate bond deals, including coordinating syndicates [1] - DBS China commanded a 38% market share in panda bonds in 2025, participating in 65.8 billion yuan ($9.54 billion) of issuance [1] Group 2 - Panda bond issuance in China's interbank bond market grew at a 26% compound annual growth rate over the last five years, increasing from 54.5 billion yuan in 2020 to 173.3 billion yuan in 2025 [1] - DBS is the first and only Singapore-headquartered bank licensed to lead-underwrite all corporate bonds in the China interbank bond market [1] - In 2025, DBS became the first Singapore bank appointed as a renminbi clearing bank [1]