A bid by DBS for Indonesia's Bank Permata would 'conflict' with digital focus: Citi

SINGAPORE - A reported move by DBS to throw in a bid for Indonesia's Bank Permata, as OCBC is reportedly set to do,"conflicts" with Singapore banks' strategy of building out digital banking to capture opportunities in South-east Asia, said Citi Investment Research.

"While there is no doubt that Bank Permata, a mid-sized Indonesia bank, could boost the assets and distribution presence of any of the three Singapore banks' Indonesia operations, our concerns include a likely multi-year rationalisation to manage network duplication and derive cost synergies to drive a meaningful return on investment," added Citi analyst Robert Kong. He pointed out that workforce rightsizing is"particularly sensitive", too.

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DBS offers SMEs in logistics sector a digital solutions packageSINGAPORE - DBS Bank on Wednesday (Oct 9) rolled out a digital solutions package for small and medium-sized enterprises (SMEs) in the logistics sector, aiming to help them tackle challenges in regional expansion and keeping up with evolving consumer needs and emerging business trends.. Read more at straitstimes.com.
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