"By natural attribution and retrenchments, about 400 staff have left," a spokeswoman for Southeast Asia's largest bank told AFP, emphasising that a large proportion of them had "left on their own accord".

She added that the bank did not immediately replace departing staff unless the posts were crucial.

DBS employs 4,100 people in its two major banks in Hong Kong -- 3000 in DBS Kwong On Bank and the remainder in Dao Heng Bank, which the bank bought in April this year.

The spokeswoman said the departure of the staff was a result of the "harmonisation and integration" process DBS was undergoing after acquiring Dao Heng Bank.

"In any integration and harmonisation, we talk about synergies and where we can enjoy synergies," she said, adding that these included cost-saving, enhanced asset management, knowledge sharing as well as information technology centralisation.

DBS is still reviewing its integration plans but expects synergy benefits to exceed its original target of HK$540 million Hong Kong dollars (US$69 million) , she said.

In August, the bank had retrenched 160 staff of its 6000-member workforce in Singapore to reduce costs after going on a recruitment and acquisition binge over the past two years to bolster its regional ambitions.

But DBS chief executive Philippe Paillart said earlier this month mergers and acquisitions would remain a key strategy for DBS and the bank would keep prowling for acquisitions beyond the small domestic market, with its focus largely on Asia.

Besides Hong Kong, DBS has acquired banks in the Philippines, Indonesia and Thailand but it has seen its standing in the home market drop to second place after the merger of two of its biggest rivals.

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