More News
BRANCH BANKING | Staff Reporter, India
view(s)

DBS turns Indian franchise into wholly-owned unit

It plans to build 75-90 branches in India.

DBS received approval from the Reserve Bank of India (RBI) to convert its Indian franchise into a wholly-owned unit.

According to an OCBC report, DBS intends to open about 75-90 branches in India in the coming years.

"We expect this move to be long-term positive for the DBS as it strengthens its presence in this market," OCBC said.

Banks from India, like State Bank of India and HDFC Bank, have seen significant jump in market capitalisation in the past few years.

HDFC Bank’s market capitalisation grew by a compound annual growth rate (CAGR) of 27% from 2014 to 2017, whilst its net income grew by a CAGR of 20%.

Currently, DBS’s share has fallen from a recent high of S$22.25 to the current price of S$20.35, due to the current weak sentiment for oil and gas stocks.

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.