Mumbai: Singapore’s DBS Bank will look to complete its retail product offering by adding a super-premium credit card as soon as this week as it seeks to consolidate its position two-and-a-half years after acquiring Lakshmi Vilas Bank (LVB).
Prashant Joshi, head of consumer banking at DBS said credit cards will be added to the bank’s mortgage, personal loan and gold loan portfolios even as it runs down the legacy education and vehicle loan portfolios from LVB.
The bank’s retail loan book is currently about ₹10,000 crore, which is roughly about 20% of the bank’s total advances of ₹50,000 crore. Almost half of retail is gold loans, followed by mortgages (20%) and unsecured (10%). The corporate loan book is about ₹35,000 crore while loans to SMEs are about ₹5,000 crore.