Best bank for RMB products and services in the Greater Bay Area 2026: DBS
The number of DBS’s Greater Bay Area clients conducting cross-border RMB transactions rose 25%, while their cross-border loan assets increased 35%, FY24-25. Cross-border cash balances also grew 61% year-on-year, and current and savings account balances climbed 82%. Behind those numbers was a platform connecting mainland China, Hong Kong and Singapore, giving companies access to renminbi payments, financing, liquidity management, foreign exchange and investment services across onshore and offshore markets.
The bank’s advantage was clearest in practical client execution. For LY iTech, DBS combined RMB letters of credit issued in Hong Kong with discounting in mainland China, helping the technology manufacturer benefit from lower RMB financing costs while retaining higher-yielding US dollar deposits. The structure also brought the transaction’s payment, political and FX risks within a single cross-border trade-finance solution. For commodities trader Grand Future, DBS extended the same-day outward-payment deadline from 4pm to 5.30pm, allowing the company to make renminbi payments after receiving funds late in the day rather than holding liquidity overnight.
DBS’s subsequent appointment as Singapore’s first RMB clearing bank gave it direct access to onshore liquidity
DBS also strengthened the infrastructure supporting these products. DBS Singapore became a direct participant in the Cross-border Interbank Payment System (CIPS) in September 2025, joining DBS China, which had participated directly since 2015. Its subsequent appointment as Singapore’s first RMB clearing bank gave it direct access to onshore liquidity, reinforcing a three-hub model that linked GBA clients with RMB settlement, funding and investment opportunities across China and Southeast Asia.
