Orchid is among a handful of Indian companies to post meteoric gains after exiting bankruptcy proceedings. Such rallies could pose considerable risks for investors as those firms typically dont have good fundamentals, according to some market watchers.
DBS Group Holdings Ltd. has sufficient capital to bid for Citigroup Inc.’s consumer assets in India valued at S$2.7 billion ($2 billion) without needing to raise additional funds, Sanford C. Bernstein & Co. analysts said. It’s a case of “either go big or go home” for DBS to further expand in India where the Singapore-based bank also acquired Lakshmi Vilas Bank Ltd. in November, Bernstein analysts led by Kevin Kwek wrote in a report Thursday. DBS Chief Executive Officer Piyush Gupta last month said he is interested in the U.S. bank’s assets that are for sale in the South Asian country, as well as in China, Taiwan and Indonesia.
Lakshmi Vilas Bank excluded from Second Schedule of the RBI Act: What does it mean?
Lakshmi Vilas Bank excluded from Second Schedule of the RBI Act: What does it mean?
The banking regulator Reserve Bank of India (RBI) said it has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act. This was after LVB merged with DBS Bank India.
RBI stated, âWe advise that the âLakshmi Vilas Bank Ltdâ has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part III - Section 4) dated January 16 â January 22, 2021.â
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4 May, 2021 Author Rebecca Isjwara
DBS Group Holdings Ltd. may stay on the hunt for more acquisitions to fuel growth as its small, though high-value, home market of Singapore poses limits on its ambitions of becoming a leading Asian bank, analysts say.
DBS, Southeast Asia s biggest bank by assets, has recently made substantial investments in the large and upcoming markets of Asia, including China and India. It announced on April 20 that it will acquire a 13% stake in Shenzhen Rural Commercial Bank, making it the largest shareholder of the Chinese lender. In November 2020, DBS acquired ailing Indian lender Lakshmi Vilas Bank Ltd.
The pandemic is far from over, but Singapore’s biggest bank is already off to the races.
DBS Group Holdings Ltd.’s recent S$1.1 billion ($828 million) purchase of a 13% stake in a rural Chinese bank gives a flavor of the aggressive deal-making investors can expect, as Citigroup Inc.’s exit from retail operations in Asia outside Singapore and Hong Kong puts assets on the block.
The Citi sale couldn’t have come at a better moment. DBS Chief Executive Piyush Gupta must be thinking hard about what he could snag from his former employer: India? Indonesia? Both? He doesn’t have the luxury of time. On its home turf, DBS is relatively safe for now. But new-age virtual banks, one from ride-hailing app Grab Holdings Inc. and another from mobile-games maker Sea Ltd., are coming to Singapore. Grab’s record $40 billion merger with a blank-check company gives it balance-sheet muscle, which it is bound to flex against DBS.