October 21, 2025
By Our Correspondent
DBS Group, Southeast Asia’s largest bank, has entered into a partnership with Riyadh-based Banque Saudi Fransi (BSF) to strengthen trade finance and payments between Asia and Saudi Arabia.
The agreement, announced on Thursday, will focus on trade settlement, financing, and regional currency-clearing solutions, aiming to capitalize on growing economic links within the Gulf Cooperation Council (GCC).
Trade between Southeast Asia and the GCC reached $130.7bn in 2023 and is expected to increase by another $50bn by 2027, according to DBS. Meanwhile, trade between China and GCC countries is projected to double to $1.9tn by 2035.
The deal, formalised on the sidelines of the Sibos financial services conference in Frankfurt, will also allow the two banks to jointly finance client transactions. BSF is considering leveraging DBS’s GlobeSend platform to enable same-day cross-border payments across the lender’s global payout network, which spans more than 100 markets.
“Asia and the Middle East are growing increasingly interconnected as businesses, investors and talent pursue opportunities in these dynamic markets,” said Sriram Muthukrishnan, DBS’s group head of global transaction services product management.
Saudi Arabia, the GCC’s largest economy, is expected to play a central role in driving growth along the corridor, DBS said.
