DBS becomes biggest foreign bank in Taiwan following Citibank acquisition focustaiwan.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from focustaiwan.tw Daily Mail and Mail on Sunday newspapers.
By Kao Shih-ching / Staff reporterDBS Bank Taiwan （星展台灣） is planning to purchase Citibank Taiwan Ltd’s （花旗台灣） consumer banking business for its net assets plus a premium of NT$19.8 billion （US$711.51 million） in cash, the local unit of Singapore-based DBS Group Holdings Ltd said yesterday.
DBS Bank Taiwan (星展台灣) is planning to purchase Citibank Taiwan Ltd’s (花旗台灣) consumer banking business for its net assets plus a premium of NT$19.8 billion (US$711.51 million) in cash, the local unit of Singapore-based DBS Group Holdings Ltd said yesterday.
It would acquire the consumer banking business via a transfer of assets and liabilities, DBS Taiwan general manger Lim Him-chuan (林鑫川) told a news conference in Taipei.
With a capital injection of S$2.2 billion (US$1.6 billion) from the parent company, DBS Bank Taiwan would pay Citibank NT$19.8 billion as a premium and acquire Citibank Taiwan’s net assets, for which the price has
Seven banks would reduce their business hours at 40 branches combined to protect their employees and help limit the spread of COVID-19, the banks said.
DBS Bank Taiwan (星展台灣) would adjust operating times at seven branches to 9am to 1:30pm from Monday, closing two hours earlier than normal, it said in a statement.
The seven branches are in Taipei or New Taipei City and they would maintain the same services, it said.
DBS Taiwan encourages customers to utilize the bank’s app to conduct transactions, investments or pay fees, and it would not charge handling fees for cross-bank transfers or payments, DBS consumer banking