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DBS well positioned for crowded Taiwan market as it buys Citi's consumer banking business
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Taiwan is a high-returns market which could contribute some $250 million annually to DBS' bottomline, said DBS CEO Piyush Gupta.
PHOTO: ST FILE
SINGAPORE - DBS Group is buying the consumer banking business of Citigroup in Taiwan. For its chief executive Piyush Gupta, there are good reasons for DBS to gun for this business.
The announcement on Friday (Jan 28) comes barely two weeks after rival lender UOB said it would be buying Citi's businesses in four South-east Asian markets for almost $5 billion.
