standard chart planning merger with DBS group?
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StanChart could buy Singapore's DBS - paper
SINGAPORE, Oct 23 (Reuters) - Asia-focused bank Standard Chartered Plc could take over Singapore's DBS Group Holdings , Southeast Asia's biggest bank, but is not looking for an immediate deal, a newspaper reported on Monday. Speaking in an interview with daily Straits Times, Standard Chartered Group Executive Director Kai Nargolwala was quoted as saying that a takeover of a local bank in Singapore was not ruled out as long as it made sense financially.
"You could make a case for it. But I don't think it's something that's so compelling that it would have to be done as quickly as possible," the newspaper quoted Nargolwala as saying in reference to DBS.
In March, Singapore state investment firm Temasek [TEM.UL], which owns 28 percent of DBS, bought an 11.6 percent stake in Standard from the estate of late banking tycoon Khoo Teck Puat in a move that some analysts said could be the first step to a merger with DBS.
But Nargolwala said Temasek was not in a position to force it to merge with the Singapore bank, which is itself looking for acquisitions in Asia, and that the secretive state investment holding was primarily a financial investor.
"If the two banks decided at some point in time that it makes sense for them to combine, then that would be up to the management of the two banks."
Temasek's stake in Standard Chartered is worth about $4.3 billion.
will DBS want to merge with standard chatered? -
If they merge, I will resign from Sgforums.
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I hold u to yr words dont come back as clone hohOriginally posted by #$%^&*:If they merge, I will resign from Sgforums. -
how to make sure he will commit to his promise?Originally posted by NewAge:I hold u to yr words dont come back as clone hoh
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but standard chartered savings acc interest rate is better than DBS now...actually i think even UOB is aso better than DBS...