Wednesday, January 22, 2014
DBS - Newswires today reported that DBS is in advanced bidding for Soc Gen's Asian private banking unit. It was unclear how much Southeast Asia's biggest lender would be willing to pay for the bank, but previous estimates from financial sources have valued it at between $300m (£182m) and $400m. DBS managed $46b in private banking assets at the end of 2012 and that could rise by another $15b if it takes over SocGen's Asia unit. That would make it Asia's sixth or seventh largest private bank in an industry dominated by UBS and Citigroup with assets of more than $200b each.