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DBS Bank India gets Rs 2,500 cr capital infusion from DBS Bank Singapore

  •   Fri, Dec 04 2020 05:08:51 PM

New Delhi, Dec 4 (ANS): DBS Bank India Ltd (DBIL) on Friday announced it has received capital infusion of Rs 2,500 crore from DBS Bank Ltd, Singapore, to support the India franchise, following the amalgamation of the Lakshmi Vilas Bank (LVB) with it.

DBIL is well-capitalised, and its capital adequacy ratios (CAR) remains above regulatory requirements after the amalgamation, the bank said in a statement.

The amalgamation provides stability and better prospects to LVB's depositors, customers and employees following a period of uncertainty, it said, adding that once the integration is complete, customers will be able to access a wider range of products and services, including the full suite of DBS digital banking services.

The scheme of amalgamation came into effect on November 27.

DBS Bank has been present in India for 26 years, having opened its first office in Mumbai in 1994. It is among the first large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank.

 
  

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Comment on this article

  • Prasun Kumar Chaudhuri, Gautam Buddha Nagar

    Sun, Dec 06 2020

    It is strange that despite allegation of fraud, DBS Bank is handed over the ownership of Lakshmi Vilas Bank. Singapore is one of the most transparent countries, yet their corporates are alleged to have been involved in fraud in India. Banking is a strategic sector. All weak banks must be merged only with strong Indian banks. This is in the interest of India.

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Title: DBS Bank India gets Rs 2,500 cr capital infusion from DBS Bank Singapore



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