Treasury & Capital Markets
DBS Bank to acquire Shenzhen bank stake for 5.29 billion yuan
Deal aimed at accelerating Singapore lender’s expansion plans in Greater Bay Area
The Asset
20 Apr 2021
DBS Bank has agreed to acquire a 13% stake in Shenzhen Rural Commercial Bank ( SZRCB ) for 5.286 billion yuan ( US$813.7 million ). It says the deal has been approved by the Monetary Authority of Singapore and the China Banking and Insurance Regulatory Commission ( Shenzhen Office ).
