, India

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.

 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!