Singapore's DBS gets approval to open Hanoi office

SINGAPORE, March 20 (Reuters) - Singapore's DBS Group (DBSM.SI) said on Thursday it has received a license from the State Bank of Vietnam to set up a representative office in Hanoi.

"The representative office is intended to be only the first of many steps towards developing a business here. In addition, we view Vietnam as a logical base from which to build a business in Indo-China," said Rajan Raju, DBS' Managing Director and Head of South and South East Asia, in a statement.

(Reporting by Daryl Loo; Editing by Jennifer Tan)