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Singapore s DBS Bank to focus on India and China for growth ANI | Updated: Apr 05, 2021 14:24 IST
By Lee Kah Whye
Singapore, April 5, 2021 (ANI): Singapore s DBS Bank, which acquired India s Lakshmi Vilas Bank (LVB) last November, plans to accelerate its business by doubling down on growth markets of India and China.
DBS Group CEO, Piyush Gupta, said this when briefing investors, analysts, and the media at its virtual annual general meeting (AGM) last week.
In spite of the health crisis and economic chaos caused by the COVID-19 pandemic, Southeast Asia s largest lender by total assets achieved its highest ever operating profit of SGD 8.4 billion (USD 6.3 billion). This was an increase of two per cent over the previous year. Total income held steady at SGD 14.6 billion (USD 10.9 billion) which was about the same as in 2019.
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