bank outlook
DBS to acquire Taiwan Citi franchise at premium of $956m to $1.06b
DBS to acquire Taiwan Citi franchise at premium of $956m to $1.06b
The move is set to make the bank the largest foreign bank in Taiwan by assets.
Secret Sauce for the Banking Industry
According to Singapore’s largest bank DBS, the volume of cash deposits and withdrawals fell by an unprecedented 11% in the first 3 months of 2020, a 6% fall from where the figure had been since 2017. Coupled with extraordinary growth in the adoption of e-payments, it’s safe to say that COVID-19 has altered consumer behaviour—and fast.
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