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DBS to Acquire ANZ’s Asia Wealth Management and Retail Banking Business

DBS Bank Ltd (DBS) announced today that it has agreed to acquire the wealth management and retail banking business of ANZ in five markets for roughly SGD 110 million above book value.

With this acquisition, DBS will add SGD 23 billion in wealth AUM, with high net worth clients accounting for SGD 6 billion.  This will take DBS’ high net worth AUM and total wealth AUM to SGD 115 billion and SGD 182 billion respectively.

News Source: DBS Press Release

 

About DBS Bank

DBS Bank
DBS Bank

DBS Bank Ltd (SGX:D05) is a Singaporean multinational banking and financial services company. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank. Founded in 1968, DBS acquired POSB (Post Office Savings Bank) in 1998. With over

280 branches across 18 markets in Asia, DBS serves over four million customers in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia.

  • Origin : Singapore
  • Assets : SGD 458 billion
  • Revenue : SGD 10.8 billion
  • Employees : 22,000
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Official Website: www.dbs.com

News & Media: Press Release

Updated on 8th August 2016

 



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