DBS Bank Ltd., a Singapore bank, has installed the country s first solar powered ATM kiosk, according to a press release. Thirty-percent of the Ang Mo Kio ATM kiosk s annual energy consumption comes from self-generated solar energy from the solar panels.…
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Singapore’s DBS Bank buys 13% in Shenzhen Rural Commercial Bank for $814m
DBS Bank
April 20, 2021
DBS Bank Ltd, a wholly-owned subsidiary of Singapore’s DBS Group Holdings, has agreed to pick up a 13% stake in China’s Shenzhen Rural Commercial Bank Corporation Limited (SZRCB) for 5.29 billion yuan ($814 million).
The Monetary Authority of Singapore (MAS) and the Shenzhen Office of the China Banking and Insurance Regulatory Commission have both given nods to the transaction.
The proposed acquisition is pending approval from the China Securities Regulatory Commission (CSRC). Upon completion of the deal, DBS will become the largest shareholder in SZRCB and will have a representation on the Chinese bank’s board of directors.