DBS to Pay Compensation for Losses Incurred by Family Trust
DBS has lost part of a case over losses on million of dollars of investments for the family trust of a Chinese banker and his wife during the global financial crisis.
“losses on million of dollars of investments for the family trust of a Chinese banker.”
The plaintiffs were Industrial & Commercial Bank of China Ltd. executive Zhang Hongli, his wife Ji Zhengrong, the trustees of their family trust, and the trust’s investment company.
News Source: Bloomberg
About 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
Official Website: www.dbs.com
News & Media: Press Release
Updated on 8th August 2016