DBS Group Considers Stakes in Malaysian Banks
DBS Group Considers Stakes in Malaysian Banks
DBS Group Considers Stakes in Malaysian Banks
News summary

DBS Group Holdings Ltd, Singapore's largest lender, is considering expanding into Malaysia by acquiring stakes in local banks, including a potential purchase of Temasek's 29.1% stake in Alliance Bank Malaysia Bhd, valued at approximately $460 million. Additionally, DBS is looking into acquiring Kuwait Finance House's Malaysian retail banking assets, which are worth over $500 million. Currently, DBS lacks a retail banking presence in Malaysia, a gap that its rivals, such as Oversea-Chinese Banking Corporation and United Overseas Bank, have filled. The bank's interest coincides with Malaysia's strong economic growth, which reached 5.9% in the second quarter, driven by increased consumer spending and infrastructure investments. However, any formal negotiations for acquisitions will require approval from Bank Negara Malaysia, and discussions are still in the early stages. DBS has declined to comment on the rumors, maintaining a cautious approach as it explores these opportunities.

Story Coverage
Bias Distribution
100% Center
Information Sources
7684cee2-ff92-4e65-86b5-bfb0b188107d
Center 100%
Coverage Details
Total News Sources
1
Left
0
Center
1
Right
0
Unrated
0
Last Updated
3 days ago
Bias Distribution
100% Center
Related News
Daily Index

Negative

21Serious

Neutral

Optimistic

Positive

Ask VT AI
Story Coverage
Subscribe

Stay in the know

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News