Home THE DAILY EDGE Business DBS says to take over RBS’ China retail, commercial business
DBS says to take over RBS’ China retail, commercial business

Tags: DBS | DBS Bank | DBS Group | Dbs Group Holdings | RBS | Royal Bank of Scotland Plc

Written by Reuters   
Wednesday, 15 December 2010 13:13
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DBS Group (DBSM.SI), Southeast Asia’s biggest lender, said on Wednesday it will take over British bank RBS’s (RBS.L) retail and commercial business in three Chinese cities.

“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,” the Singapore bank said in a statement.

It did not give the deal value.

DBS currently earns the bulk of its earnings from Singapore and Hong Kong, but aims to expand into China, Southeast Asia and India.

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Last Updated on Wednesday, 15 December 2010 17:19