Singapore’s gold hub ambition gets lift with DBS vault expansion

Singapore’s push to become a major gold hub is gaining momentum, with DBS Group Holdings Ltd. adding bullion storage capacity and other banks considering similar moves.

DBS, Southeast Asia’s largest lender, increased its vaulting space this year to support growing demand from both private wealth and institutional clients, the bank said in an emailed response to Bloomberg’s request for comment on Wednesday. Oversea-Chinese Banking Corp. Ltd. has also approached precious metal storage providers about securing more space, according to people with knowledge of the matter.

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Singapore’s gold hub ambition gets lift with DBS vault expansion

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新加坡努力成为主要黄金中心的势头正在增强，星展集团控股有限公司增加了黄金存储能力，其他银行也在考虑采取类似举措。

星展银行是东南亚最大的银行，该行周三在回复彭博社置评请求的电子邮件中表示，为满足私人财富客户和机构客户日益增长的需求，星展银行今年增加了金库存储空间。据知情人士透露，华侨银行也已与贵金属存储供应商接洽，寻求更多存储空间。

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