SINGAPORE: DBS Group, Southeast Asia's largest bank, has agreed to buy Citigroup's consumer banking business in Taiwan via a transfer of assets and liabilities and will take over the 3,500 staff employed in the retail arm.
DBS said that the proposed acquisition makes"strategic sense" because it will help scale up its Taiwan operations in a market that is attractive for its wealth and technology sectors. “Notwithstanding COVID-19, we believe that Asia’s long-term growth trends remain intact," said DBS Group CEO Piyush Gupta.
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DBS to announce purchase of Citi's Taiwan consumer business -sourcesTAIPEI (Reuters) -Singapore's DBS Group will announce on Friday it is to buy Citigroup's consumer finance business in Taiwan, two sources familiar with the matter told Reuters on Thursday. DBS and Citi declined to comment. The Wall Street Journal reported this month that the sale could be valued at up to $2.2 billion. Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles
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DBS to announce purchase of Citi's Taiwan consumer business -sourcesTAIPEI :Singapore's DBS Group will announce on Friday it is to buy Citigroup's consumer finance business in Taiwan, two sources familiar with the matter told Reuters on Thursday.DBS and Citi declined to comment.The sources, who spoke on condition of anonymity as they were not authorised to speak to the
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