Tag

Dbs Group

All articles tagged with #dbs group

finance2 years ago•1 min saved

DBS Surpasses Expectations with Record Profits Driven by Higher Interest Margins

DBS Group, Southeast Asia's largest lender, reported a 17% increase in third-quarter profit, reaching SG$2.63 billion ($1.94 billion), surpassing analysts' estimates. The bank attributed its success to a high-interest rate environment and a rise in net interest margin. DBS also declared a dividend of 48 Singapore cents per ordinary share for the quarter. The CEO, Piyush Gupta, expressed optimism for the coming year, citing the potential benefits of higher interest rates and the bank's strong balance sheet.

via CNBC|

#dbs-group #finance #high-interest-rate-environment

business2 years ago•1 min saved

Citi sells Taiwan consumer unit to DBS in completed deal

Citigroup has completed the sale and migration of its Taiwan consumer businesses to Singapore's DBS Group, including retail banking, credit card, mortgage, and unsecured lending businesses, as well as the transfer of close to 3,000 employees. The transaction is expected to release $1.2 billion in capital. Citi has signed sales agreements for consumer units in nine markets and plans to exit consumer banking across 14 markets globally.

via Reuters|

#business #citigroup #consumer-banking