DBS Bank and RBS today entered into an agreement to transfer RBS’ retail and commercial banking customer base, business portfolios and related employees in Shanghai, Beijing and Shenzhen to DBS China.

With this strategic agreement, DBS says close to 25,000 retail and commercial banking RBS customers in Shanghai, Beijing and Shenzhen will be given the option to transfer their existing accounts and deposits to DBS China.

They will have access to a full range of consumer banking products and services offered by DBS China, including deposits, investments, mortgage loans, and insurance.

They will also have access to DBS’ large network in Asia, including 80 branches and over 1,000 ATMs in its home market in Singapore as well as 113 branches and 154 ATMs in the Greater China region. The transfer process is expected to be completed within six months.