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DBS to Pay Compensation for Losses Incurred by Family Trust

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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
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





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