trending Market Intelligence /marketintelligence/en/news-insights/trending/htanpw3tw9qzymketwu36g2 content esgSubNav
In This List

DBS Bank establishes wholly owned unit in India

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


DBS Bank establishes wholly owned unit in India

DBS Group Holdings Ltd. said unit DBS Bank Ltd. completed the establishment of a wholly owned subsidiary in India, called DBS Bank India Ltd.

The subsidiary has an initial share capital of 475 million Indian rupees, according to a Feb. 15 bourse filing.

The Singapore-based bank will seek approval from the Reserve Bank of India to begin the unit's operations. The move is part of a plan to convert DBS Bank's existing franchise in India to a locally incorporate wholly owned subsidiary.

As of Feb. 15, US$1 was equivalent to 63.93 Indian rupees.