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DBS has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank.
In 2005, DBS Bank acquired a 37.5% stake in Cholamandalam Investment and Finance Company, with the Murugappa Group lowering its stake to 37.5%. The company was subsequently renamed as Cholamandalam DBS Finance. [7] In 2010, DBS Bank sold its entire stake back to Murugappa Group and exited the joint venture. [8]
[9] [10] On the same day, RBI presented a draft amalgamation scheme of LVB with DBS Bank India Limited; the merger would result in a subsequent write-off of paid-up share capital and delisting of LVB from all stock exchanges. [11] The moratorium was lifted and all branches of LVB started operating as branches of DBS Bank India from 27 November ...
Branches Total assets Revenues Refs AU Small Finance Bank: 2017 Jaipur, Rajasthan: 630 ₹ 90,216.12 crore (US$10 billion) ₹ 9,293 crore (US$1.1 billion) [78] Capital Small Finance Bank: 2016 Jalandhar, Punjab: 180 [79] Equitas Small Finance Bank: 2016 Chennai, Tamil Nadu: 987 ₹ 26,959 crore (US$3.1 billion) ₹ 3,997 crore (US$460 million ...
Then IOB added a branch each in Ipoh, Klang, and Malacca, all in Malaya. Some years later, in 1955, IOB opened its first branch in Hong Kong. Others would follow. In 1963, the revolutionary government in Burma nationalised Indian Overseas Bank's branches in Rangoon, Mandalay, and Moulmein, which became People's Bank No. 4. [2]
Tamilnad Mercantile Bank was the first private sector bank in India to introduce computerisation for branch-level operations. The bank adopted modernization as early in the year 1983. Today all 509 branches of the bank are networked using Infosys's "FINACLE" Software and have achieved 100% connectivity. [16]
Bharat Overseas Bank (BOB) was a private bank based in Chennai, India. In 2007, it merged with Indian Overseas Bank, which took over all the bank's employees, assets, and deposits. BOB was established in 1973, in order to takeover for the Bangkok branch of the Indian Overseas Bank.
Piyush Gupta BBM (Hindi: पीयूष गुप्ता; born 24 January 1960) is an Indian-born Singaporean banker [1] and the chief executive officer (CEO) of DBS Group, the largest bank in Southeast Asia by total assets.