DBS, Bank of Singapore in acquisition mode

Acquisition this year amounted to $400m.

DBS Group Holdings Ltd. and Bank of Singapore, Asia’s largest home-grown private banks, will consider more acquisitions as they grapple for a bigger slice of business from the region’s growing number of millionaires.

DBS would look at any deal that fits with its strategy and is at the “right” price, the bank’s consumer and wealth head Tan Su Shan told Bloomberg Television’s Haslinda Amin on Tuesday. Bank of Singapore, Oversea-Chinese Banking Corp.’s private-banking arm, “will definitely evaluate” any opportunities, Chief Executive Officer Bahren Shaari said in a separate TV interview.

The two banks have already announced at least $400 million of acquisitions this year as they seek to compete with larger western rivals such as UBS Group AG. OCBC completed its purchase of Barclays Plc’s wealth-management units in Singapore and Hong Kong on Monday, while DBS said last month it will buy Asian retail and wealth businesses from Australia & New Zealand Banking Group Ltd.

Follow the link for more news on

Bank of Singapore

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia