SINGAPORE — DBS Group has agreed to buy Citigroup's consumer business in Taiwan in a move that will see the Singapore-based bank pay S$956 million above the net asset value, making it Taiwan's largest foreign bank by assets.
"Citi Consumer Taiwan is a highly attractive, high-returns business that is expected to contribute at least S$250 million annually in net profit to DBS after Covid-19 recovery," DBS CEO Piyush Gupta said in a statement. DBS said it will pay cash for the net assets of Citi's consumer business in Taiwan plus a premium of S$956 million.
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DBS to buy Citi's Taiwan retail business, take over 3,500 staffSINGAPORE :DBS Group has agreed to buy Citigroup's consumer business in Taiwan in a move that will see the Singapore-based bank pay S$956 million ($706.6 million) above the net asset value, making it Taiwan's largest foreign bank by assets.DBS, Southeast Asia's biggest lender, said in a statement on Friday th
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DBS to buy Citi's consumer banking business in TaiwanSINGAPORE: DBS Group, Southeast Asia\u0027s largest bank, has agreed to buy Citigroup\u0027s 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. It will pay cash for the net assets of Citibank\u0027s Taiwan consumer banking business p
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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
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »