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Meet banker who worked in SBI for 33 years, now leads Rs 71,805 crore company

He held various responsibilities in SBI during his 33-year stint with India's largest lender. He worked there till 2014.

India , Canara , Karnataka , Rakesh-sharma , Canara-bank , Lakshmi-vilas-bank-ltd , Government-of-india-mission-indradhanush , State-bank , Lakshmi-vilas-bank , Mission-indradhanush , Post-graduate , Dbi-bank

DBS India Managing Director for Institutional Bank Said to Quit

DBS India Managing Director for Institutional Bank Said to Quit
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

Singapore , India , Preeti-singh , Sandeep-chopra , Rajat-verma , Group-holdings-ltd , Grindlays-bank , Linkedin , Bloomberg , Lakshmi-vilas-bank-ltd , India-institutional-banking , Lakshmi-vilas-bank

DBS Group Holdings: Tapping The Emerging Market Opportunity (OTCMKTS:DBSDF)

DBS Group benefits from inflows to Singapore but a few challenges are looming on the horizon. Click here to see our take on DBSDF stock.

China , Switzerland , Taiwan-to , Hong-kong-general- , Hong-kong , United-states , Singapore , India , Taiwan , Taiwanese , Swiss , Americans

Bank Amalgamations Warrant Urgent Introspection

Compulsory amalgamations of failing banks are in the public interest. They are primarily intended to provide stability to the financial system, safeguard the depositors’ interests and, in the process,

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Orchid Pharma share price: A 7,700% stock surge is about to face a reality check in India

Orchid is among a handful of Indian companies to post meteoric gains after exiting bankruptcy proceedings. Such rallies could pose considerable risks for investors as those firms typically dont have good fundamentals, according to some market watchers.

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DBS can fund $2 billion for Citi India's assets, Bernstein analysts say

DBS Group Holdings Ltd. has sufficient capital to bid for Citigroup Inc.’s consumer assets in India valued at S$2.7 billion ($2 billion) without needing to raise additional funds, Sanford C. Bernstein & Co. analysts said.
It’s a case of “either go big or go home” for DBS to further expand in India where the Singapore-based bank also acquired Lakshmi Vilas Bank Ltd. in November, Bernstein analysts led by Kevin Kwek wrote in a report Thursday. DBS Chief Executive Officer Piyush Gupta last month said he is interested in the U.S. bank’s assets that are for sale in the South Asian country, as well as in China, Taiwan and Indonesia.

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RBI excludes Lakshmi Vilas Bank from the Second Schedule of the RBI Act

Lakshmi Vilas Bank excluded from Second Schedule of the RBI Act: What does it mean?
Lakshmi Vilas Bank excluded from Second Schedule of the RBI Act: What does it mean?
The banking regulator Reserve Bank of India (RBI) said it has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act. This was after LVB merged with DBS Bank India.
RBI stated, âWe advise that the âLakshmi Vilas Bank Ltdâ has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part III - Section 4) dated January 16 â January 22, 2021.â

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DBS may stay hungry for acquisitions in quest to dominate Asia banking: Analysts

Blog
Blog
Blog
Case Study
4 May, 2021
Author
Rebecca Isjwara
DBS Group Holdings Ltd. may stay on the hunt for more acquisitions to fuel growth as its small, though high-value, home market of Singapore poses limits on its ambitions of becoming a leading Asian bank, analysts say.
DBS, Southeast Asia's biggest bank by assets, has recently made substantial investments in the large and upcoming markets of Asia, including China and India. It announced on April 20 that it will acquire a 13% stake in Shenzhen Rural Commercial Bank, making it the largest shareholder of the Chinese lender. In November 2020, DBS acquired ailing Indian lender Lakshmi Vilas Bank Ltd.

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View: DBS will take from Citi to take on Grab

The pandemic is far from over, but Singapore’s biggest bank is already off to the races.
DBS Group Holdings Ltd.’s recent S$1.1 billion ($828 million) purchase of a 13% stake in a rural Chinese bank gives a flavor of the aggressive deal-making investors can expect, as Citigroup Inc.’s exit from retail operations in Asia outside Singapore and Hong Kong puts assets on the block.
The Citi sale couldn’t have come at a better moment. DBS Chief Executive Piyush Gupta must be thinking hard about what he could snag from his former employer: India? Indonesia? Both? He doesn’t have the luxury of time. On its home turf, DBS is relatively safe for now. But new-age virtual banks, one from ride-hailing app Grab Holdings Inc. and another from mobile-games maker Sea Ltd., are coming to Singapore. Grab’s record $40 billion merger with a blank-check company gives it balance-sheet muscle, which it is bound to flex against DBS.

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Biggest Singapore Bank Cuts CEO Pay After Virus Hits Profit

Biggest Singapore Bank Cuts CEO Pay After Virus Hits Profit
Bloomberg
3/8/2021
Chanyaporn Chanjaroen
© Bloomberg
The DBS Group Holdings Ltd. logo is displayed atop Tower 3 of the Marina Bay Financial Centre in Singapore, on Wednesday, Feb. 12, 2020. The coronavirus outbreak rocked Singapore's financial district after an infection at the country’s biggest bank prompted it to evacuate 300 workers.
(Bloomberg) -- DBS Holdings Group Ltd. cut Chief Executive Officer Piyush Gupta’s total 2020 compensation by 24% after Singapore’s largest lender posted its first annual drop in profit for four years.
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The bank slashed Gupta’s bonus by 27%, resulting in a 24% decline in his overall compensation to S$9.2 million ($6.8 million) for the 2020 performance year, down from S$12.1 million a year earlier, DBS said in its annual report on Monday. The reduction reflects the “extremely challenging operating environment,” it said, as the global pandemic endured.

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