Latest news with #DBSGroupHoldingsLtd.
Mint
4 days ago
- Business
- Mint
DBS Is Said to Shelve Plans for Asia Insurance Deal on Valuation
(Bloomberg) -- DBS Group Holdings Ltd. has shelved plans to form an insurance partnership in India and Taiwan after initial offers from prospective bidders didn't match value expectations, according to people familiar with the matter. The Singapore-based lender and its advisers have paused work on the transaction, the people said, asking not to be identified because the information is private. A bancassurance agreement for the two Asian markets, as well as certain products in Singapore, had attracted interest from other insurers and financial services firms, the people said. DBS could opt to revive considerations for potential deal in the future, the people said. A representative for DBS declined to comment. In September, Bloomberg News reported DBS was working with Goldman Sachs Group Inc. as it weighed forming insurance partnerships in India and Taiwan, and some products in Singapore, in a transaction that could have been valued at a few hundred million dollars. DBS already has a bancassurance partnership with Toronto-based Manulife Financial Corp. for markets including China, Hong Kong, Indonesia and Singapore. DBS has had a presence in India for about three decades, having opened its first office in Mumbai in 1994. In 2020, DBS Bank India Ltd. merged with Lakshmi Vilas Bank Ltd., and it now has about 500 branches in 19 states, according to a recent press release. It entered Taiwan even earlier, in 1983, and has more than 70 branches across the island, expanding organically and via acquisitions including Citigroup Inc.'s consumer banking assets in the country in 2023. More stories like this are available on
Time of India
22-05-2025
- Business
- Time of India
Adani Ports gets about $150 million loan from DBS for capex
Adani Ports & Special Economic Zone Ltd. raised about $150 million through a bilateral loan agreement with DBS Group Holdings Ltd., according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure , the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said. The all-in-price, including the hedging cost, is about 5.5%, one of the person said. DBS declined to comment. An Adani Group representative did not offer any immediate comments on the transaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Has Honda Done It Again? The New Honda CR-V is Finally Here. TheFactualist Undo Billionaire Gautam Adani-owned conglomerate, with interests stretching from ports to green energy, is steadily regaining creditor confidence following a US Department of Justice indicted Adani over an alleged bribery plot in November. The bilateral loan is the group's first from a global bank since the indictment, one of the person said. Last month, the group raised about $750 million through an offshore private placement bond to fund an acquisition of a construction firm. BlackRock Inc. subscribed to about a third of the issuance. Separately, the conglomerate is in talks with foreign banks including Barclays Plc, First Abu Dhabi Bank PJSC and Standard Chartered Bank Plc for a $750 million loan for its airport unit. Live Events Representatives for Adani and his companies recently met US administration officials to discuss potentially dismissing criminal charges levied against him in the bribery probe, Bloomberg reported earlier this month.
Economic Times
09-05-2025
- Business
- Economic Times
Biggest polluters need ‘breathing space' to reform, DBS says
Live Events Major polluters need support to develop credible plans to curb emissions instead of being held to unrealistic demands for reforms, according to DBS Group Holdings Ltd., Southeast Asia's largest still accounts for almost half of total energy supply in the Asia-Pacific region, and sectors including shipping and steel-making continue to face challenges in decarbonizing quickly.'We need to give everyone a bit of breathing space to develop transition plans,' Helge Muenkel, the bank's chief sustainability officer, said in an interview on the sidelines of the Ecosperity Week conference in has previously warned that emissions tied to its customers could rise in the short-term. The trajectory will be impacted by its efforts to direct more funding to support the early retirement of coal power plants, and development of supply chains for critical minerals and other products required for green technology like electric in Europe are coming under new pressure to stand by strict climate commitments, and both Barclays Plc and Standard Chartered Plc will face calls from investors this week to accelerate lending to clean which lifted sustainable financing commitments to S$89 billion ($69 billion) at the end of 2024 from S$70 billion the previous year, will aim to hold customers to account over their transition efforts, Muenkel said in the Tuesday interview.'If customers after engagement don't give us a sense that they really want to move, then ultimately that's actually a concern,' Muenkel said. 'Then we need to discuss cutting lines, disbanding relationships.'The bank has chosen to remain a member of the Net-Zero Banking Alliance , the finance sector climate group that's been abandoned by Wall Street and a series of lenders across Asia.'We like collective action, we like platforms that foster collaboration,' he said. 'It has proven to be actually very helpful.'
Time of India
09-05-2025
- Business
- Time of India
Biggest polluters need ‘breathing space' to reform, DBS says
Major polluters need support to develop credible plans to curb emissions instead of being held to unrealistic demands for reforms, according to DBS Group Holdings Ltd., Southeast Asia's largest lender. #Operation Sindoor India-Pakistan Clash Live Updates| Missiles, shelling, and attacks — here's all that's happening Pakistani Air Force jet shot down in Pathankot by Indian Air Defence: Sources India on high alert: What's shut, who's on leave, and state-wise emergency measures Coal still accounts for almost half of total energy supply in the Asia-Pacific region, and sectors including shipping and steel-making continue to face challenges in decarbonizing quickly. 'We need to give everyone a bit of breathing space to develop transition plans,' Helge Muenkel, the bank's chief sustainability officer, said in an interview on the sidelines of the Ecosperity Week conference in Singapore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently Cash Roadster Undo DBS has previously warned that emissions tied to its customers could rise in the short-term. The trajectory will be impacted by its efforts to direct more funding to support the early retirement of coal power plants, and development of supply chains for critical minerals and other products required for green technology like electric vehicles. Banks in Europe are coming under new pressure to stand by strict climate commitments, and both Barclays Plc and Standard Chartered Plc will face calls from investors this week to accelerate lending to clean energy. Live Events DBS, which lifted sustainable financing commitments to S$89 billion ($69 billion) at the end of 2024 from S$70 billion the previous year, will aim to hold customers to account over their transition efforts, Muenkel said in the Tuesday interview. 'If customers after engagement don't give us a sense that they really want to move, then ultimately that's actually a concern,' Muenkel said. 'Then we need to discuss cutting lines, disbanding relationships.' The bank has chosen to remain a member of the Net-Zero Banking Alliance , the finance sector climate group that's been abandoned by Wall Street and a series of lenders across Asia. 'We like collective action, we like platforms that foster collaboration,' he said. 'It has proven to be actually very helpful.'
Mint
29-04-2025
- Business
- Mint
Singapore Banks Dominate With Buybacks at Four-Year High
(Bloomberg) -- Singapore lenders are taking advantage of recent weakness in their share prices to purchase stock, making up the bulk of total corporate buybacks that are set to be the biggest in the city-state in four years. The value of buybacks by DBS Group Holdings Ltd., Singapore's largest bank, account for nearly half of all the stock repurchases in Singapore from April 1 to April 23, followed by United Overseas Bank Ltd. at 25% and Oversea-Chinese Banking Corp. at just over 8%, according to data compiled by Bloomberg. Singapore banks, among the most well capitalized in the region, pledged in recent months to hand over billions of dollars in surplus capital to investors on the back of record-high earnings. Such action came in handy during global stock selloffs triggered by US President Donald Trump's tariff measures. Elsewhere, banks emerged as the biggest contributors to buybacks in Europe, while share repurchase plans announced in China this month have reached the most since a stock rout in February 2024. Maybank analyst Thilan Wickramasinghe said Singapore lenders have been carrying excess capital for some time, despite spending on recent deals and integrating them. However, he noted there may be risks that capital returns could be reassessed given the heightened uncertainty in the operating environment. Shares of DBS, UOB and OCBC fell to multi-month lows earlier this month as they joined a plunge in global equities, before paring losses. Investors are however concerned that weak economic growth would lead to interest rate cuts and impact banks' lending margins. Still, the lenders appear less vulnerable to US tariffs than their Southeast Asian rivals as supply-chain shifts are set to promote cross-border business, Bloomberg Intelligence said in a report this month. Singapore banks report quarterly results in May. Morgan Stanley's Southeast Asian analysts led by Nick Lord slashed earnings estimates of Singapore lenders by up to 11% for 2025, and 8%-11% for 2026. The bank said in a report that the main driver of the changes in estimates for 2025 is a 'pre-emptive provision charge based on deteriorating macro economic variables.' Despite the cut to earnings forecasts, Morgan Stanley left capital return forecasts unchanged as it expects the banks' 'fully loaded' common equity Tier 1 ratios to remain healthy, part due to lower loan growth and still-robust return on equity. Meanwhile, Goldman Sachs maintained a buy rating on the three banks, saying it favors stocks with 'robust and sustainable profitability and the capability to increase capital returns.' It expects excess capital for the trio to build up by 2027, given that the lenders remain capital generative. Jefferies analyst Sam Wong said that given that all three lenders are trading above their book value, buyback is not the most value accretive form of shareholder return. 'That said, a buyback mandate would allow the banks to provide some stability to share price in an uncertain environment, and to develop a more sticky investor base (versus any one-off special div),' Wong said in an email. --With assistance from Julie Chien. (Adds comment from Bloomberg Intelligence in 7th paragraph, updates charts.) More stories like this are available on First Published: 29 Apr 2025, 05:41 AM IST
