• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Business»Exclusive: DBS seen as frontrunner for Barclays’ HK, Singapore wealth units – sources

Exclusive: DBS seen as frontrunner for Barclays’ HK, Singapore wealth units – sources

Saheli 21 Mar 2016 Business Comments Off on Exclusive: DBS seen as frontrunner for Barclays’ HK, Singapore wealth units – sources 477 Views

Singapore’s DBS Group Holdings (DBSM.SI) is seen leading the race to buy British bank Barclays’ (BARC.L) Hong Kong and Singapore private wealth units, valued at as much as $300 million, sources with knowledge of the situation said on Monday.

The other bidder left in the race is rival Singaporean lender Oversea-Chinese Banking Corp (OCBC.SI), the sources added. However, they cautioned that no final deal has been agreed and there could be last minute changes.

“This is a race between DBS and OCBC,” said one of the sources.

Singapore’s banks have been expanding in wealth management, picking up assets sold by some Western banks as they retreat to focus on their own markets.

A win for DBS would help strengthen its lead in wealth management among Singapore’s three listed banks, while a victory for OCBC would enable it to overtake DBS.

The sale is part of a restructuring by Barclays’ new chief executive, Jes Staley, and comes as several European banks rethink their Asian strategy due to pressure at home to cut costs.

DBS, OCBC and Barclays declined to comment.

Buyers of Barclays’ Singapore and Hong Kong subsidiaries would gain access to $20 billion worth of private client assets, sources have said previously.

Julius Baer (BAER.S) and United Overseas Bank (UOBH.SI) also took part in the initial stages of the sale process, they said. Spokespeople for Julius Baer and UOB declined to comment.

OCBC’s private banking arm, Bank of Singapore, had $68 billion worth of assets under management at the end of 2015, whereas DBS private bank had S$97 billion ($70 billion) of assets belonging to high net worth clients.

Unlike DBS and OCBC, UOB has not pursued acquisitions to expand its private bank, leaving it smaller than those of its two rivals.

[Source:- Reuters]

- as Barclays' DBS Exclusive for frontrunner HK seen Singapore sources units wealth 2016-03-21
Tags - as Barclays' DBS Exclusive for frontrunner HK seen Singapore sources units wealth
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

FanDuel and DraftKings shut down games in New York

Next Article :

Fed approves Goldman acquisition of GE Capital’s U.S. online deposits

Related Articles

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

admin 07 Feb 2025
The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

admin 24 Sep 2024
The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

admin 19 Sep 2024

Latest Post

The Future of High Performance Networking: Ultra Ethernet Explained
Technology

The Future of High Performance Networking: Ultra Ethernet Explained

admin 28 Aug 2025
Why a focus on foundational education must be at the heart of the response: Out of school but not out of reach
Education

Why a focus on foundational education must be at the heart of the response: Out of school but not out of reach

admin 23 Aug 2025
HP Increases Innovation in Gaming
Technology

HP Increases Innovation in Gaming

admin 19 Aug 2025
Anatomy, Function, and Common Injuries of Hamstring Muscles
Health

Anatomy, Function, and Common Injuries of Hamstring Muscles

admin 12 Aug 2025
Gaming Your Way to Sharper AI Prompts
Technology

Gaming Your Way to Sharper AI Prompts

admin 07 Aug 2025
15 Elegant Living Room Hanging Lights
Home Deco

15 Elegant Living Room Hanging Lights

admin 04 Aug 2025
115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads
Real Estate

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

admin 02 Aug 2025
September 2025
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930  
« Aug    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme