$

DBSM

DBS GRP HLDGS
DBSM.SI
Last Price
25.42
09:04 GMT / 19 MAR 2019
Value Change [%]
0.18
[(0.71%)]
Volume
2,600,000
Open
25.29
Day's High
25.43
Year's High
30.77
Previous Close
25.24
Day's Low
25.25
Year's Low
22.65
Earnings Per Share
2.18
P/E Ratio
11.59
Lot Size
100
Div. Yield (%)
4.75
Dividend
1.20
Div. Pay Date
17 MAY 2019
Ex-Div. Date
02 MAY 2019
Last Trade
25.42
Last Trade Time (GMT)
09:04
Last Trade 2
25.40
Last Trade 3
25.40
Volume
2,600,000
Turnover
65,936,656
Bid
25.41
Bid Size
37,400
Ask
25.42
Ask Size
7,900
Close Bid
25.41
Close Ask
25.42
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DBS Group Holdings Ltd is an investment holding company that operates through its main subsidiary, DBS Bank Ltd (the Bank). The Bank is engaged in the provision of retail, small and medium-sized enterprise, corporate and investment banking services. The Company's financial businesses are organized into four segments: consumer/private banking, institutional banking, treasury and others. Consumer/ Private Banking provide individual customers with a range of banking and related financial services. Institutional Banking provides financial services and products to institutional clients, including bank and non bank financial institutions, government linked companies, large corporates and small and medium-sized businesses. Treasury provides treasury services to corporations, institutional and private investors, financial institutions and other market participants. Others encompass a range of activities from corporate decisions.

  • Market News
UPDATE 2-StanChart suffers Asia private banker exits, boosts Mideast staff-sources
13 March 2019
source: reuters.com
    * At least four senior Asia bankers left in past six months
    * Private banking loss widened to $14 million in 2018
    * StanChart hiring 15 private bankers for Middle East
coverage
    * CEO Winters has said investing more to transform private
banking
     

 (Adds StanChart CEO's comments of last month; bank's comment on
Middle East hiring)
    By Sumeet Chatterjee
    HONG KONG, March 13 (Reuters) - Standard Chartered PLC
 STAN.L  has seen the departure of at least four senior
Asia-based bankers from its private banking unit in recent
months, three people with direct knowledge of the matter said,
amid growing earnings pressure at the business.
    The unit is, however, adding 15 private bankers in London in
the March quarter for serving clients in the Middle East, two
separate people with knowledge of the matter said.
    StanChart's private banking business caters to wealthy
individuals across Asia, Africa, the Middle East and Europe,
through booking centres in Singapore, Hong Kong, Dubai, India,
London and Jersey.
    The unit, however, has weighed on the group's earnings in
the last couple of years, as competition in Asia, which accounts
for bulk of its revenue, has intensified and market volatility
has impacted the assets it manages.
    Among those who left the London-headquartered bank in the
past six months include Teddy Kwong, managing director and
market head for Hong Kong, and Peter Lam, managing director and
team leader for Hong Kong, said the people.
    Both Hong Kong-based Kwong and Lam joined StanChart in the
first half of 2017 from the regional private banking unit of
HSBC Holdings PLC  HSBA.L . It was not immediately clear where
the two are headed.
    Ray Li, StanChart private banking managing director and head
of relationship management, has also left after having worked at
the bank for more than a decade, said the people and according
to his LinkedIn profile.
    The Asia, Africa and Middle East-focused bank has also lost
India private banking head Sandeep Das, who joined Barclays PLC
 BARC.L  last month as India head of its business that caters to
ultra high networth clients, as per a Barclays announcement. 
    A StanChart spokeswoman in Singapore declined to comment,
but said that the bank continued to invest in and hire for its
private banking business in 2019.
    "Our Private Bank has completed two years of repositioning
and is building a stronger wealth platform that complements the
business," the spokeswoman said in an emailed statement.
    The reasons for the departures of Kwong, Lam, Li and
Mumbai-based Das were not clear and they could not immediately
be reached for comment. The sources were not authorised to speak
with media and so declined to be identified.
    
    MIDDLE EAST PUSH
    Loss before tax at the private banking business widened to
$14 million last year from $1 million in 2017, the bank's annual
report showed. Its assets under management also dropped 8
percent last year from nearly $65 billion in 2017.
    Chief Executive Bill Winters said at an earnings call last
month that the private banking unit had added new relationship
managers to serve its wealthy clients, and is investing more to
"fundamentally transform" the business.
    Part of the reason for the sluggish growth in assets is that
StanChart has had to stop banking some customers who would not
disclose enough information about the source of their wealth,
Winters had said.
    "We've done a thorough reboot, we've added significantly to
our numbers of relationship managers, and income is increasing."
    StanChart is bulking up for a bigger share of the Middle
East market at a time when others are also expanding to tap the
growing client base that includes wealthy business people,
family offices and non-resident Indians.
    StanChart declined to comment on the region's hiring plans.
    The number of people in the Middle East with individual
assets of more than $500 million is projected to grow by 28
percent to 500 in 2022, according to the Knight Frank 2018
Wealth report.
    DBS Group Holdings Ltd  DBSM.SI , Southeast Asia's largest
bank, said in November it would almost double its Dubai private
banking staff to triple revenue for those operations in the
Middle East by 2023.  urn:newsml:reuters.com:*:nL8N1Y22EF

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
DBS to almost double staff, triple revenue of Mideast private
banking     urn:newsml:reuters.com:*:nL8N1Y22EF
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Sumeet Chatterjee; Additional reporting by Saeed
Azhar in DUBAI, Anshuman Daga in SINGAPORE and Lawrence White in
LONDON; Editing by Christopher Cushing and Muralikumar
Anantharaman)
 ((sumeet.chatterjee@thomsonreuters.com; +852-2847 2094; Reuters
Messaging: sumeet.chatterjee.thomsonreuters.com@reuters.net))
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