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'DBS India plans to grow retail book' - The Economic Times

‘DBS India plans to grow retail book’
DBS expects to complete the merger of both the banks by September next year.
Synopsis
CEO Surojit Shome said the bank plans to expand retail assets led by loan against gold and loans to small businesses that are currently serviced by LVB s branches. More importantly, DBS plans to expand its deposits especially low cost current and savings accounts (CASA) by tapping the two million LVB customers.
DBS Bank India, the wholly owned subsidiary of Singapore s largest lender will look to increase its liability base and expand loans to individuals and small businesses by tapping the 2 million customer base of Lakshmi Vilas Bank (LVB), which it acquired through a Reserve Bank of India (RBI) scheme of amalgamation in November 2020. ....

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DBS looks to Lakshmi Vilas Bank customers to widen deposit, lending base

DBS looks to Lakshmi Vilas Bank customers to widen deposit, lending base
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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DBS Bank India FY'21 net profit surges to ₹312 crore - The Hindu BusinessLine

DBS Bank India FY'21 net profit surges to ₹312 crore - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

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DBS unit net profit, NPAs surge post LVB merger

DBS unit net profit, NPAs surge post LVB merger
thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.

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Brigade Enterprises records loss of Rs 16 cr in December quarter

Net sales during the quarter increased by 16.7% year-on-year (YoY) to Rs 644.63 crore.
The company recorded an exceptional charge of Rs 40 crore during Q3 FY21. The Group had investment of Rs 40 core in Tier II bonds of Lakshmi Vilas Bank (LVB). The Reserve Bank of India (RBI), in its communication in November 2020, advised the administrator of LVB to write down the Tier II bonds issued by LVB pursuant to the amalgamation of LVB with DBS Bank India and LVB being non-viable under Section 45 of Banking Regulation Act. The Group has filed a writ petition in Bangalore High Court against the order of the RBI. Considering the overall uncertainty on recoverability of the aforesaid amount, the Group has made provision in this regard. ....

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