DBS Group Holdings ( (SG:D05) ) has issued an announcement.
DBS Group Holdings Ltd has increased its stake in Shenzhen Rural Commercial Bank from 16.69% to 19.40% by acquiring an additional 2.71% stake. This transaction, valued at CNY 1,596 million (approximately SGD 295 million), aligns with DBS’s strategy to enhance its presence in the Greater Bay Area. The acquisition is expected to be immediately accretive to earnings and Return on Equity, with minimal impact on consolidated capital ratios.
More about DBS Group Holdings
DBS Group Holdings is a leading financial services group in Asia, known for its extensive operations in banking and financial services. The company focuses on core markets in Asia, with a strategic expansion into the Greater Bay Area.
YTD Price Performance: -0.29%
Average Trading Volume: 6,988
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $91.78B
Learn more about D05 stock on TipRanks’ Stock Analysis page.