DBS: DBS India CEO expects to grow 30-50% or more this yr through focusing on the wholesale banking business in India. India plans to allow foreign lenders to convert into wholly-owned subsidiaries and issued draft guidelines that will allow them to treat intl lenders like an Indian bank…
DBS expects 4 more branches to open in the nxt 6-8 mths. DBS will offer all wholesale banking services and will focus on SME banking after obtaining a foothold in wholesale banking. Co expects the power sector to require substantial investment between 2012 and 2017 according to the 12th plan period and expect meaningful opportunities in the future…
DBS India is the group's 3rd largest revenue and profit contributor after Sg and HK, contributing 8-10% of group's rev and profit. Stock currently trades at 1.24x P/B. Latest recommendation is from JPM with overweight and TP$24.00.
No comments:
Post a Comment