General Announcement::DBS AGREES TO ACQUIRE ANZ'S WEALTH MANAGEMENT AND RETAIL BANKING BUSINESS IN FIVE MARKETS

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Oct-2016 07:31:01
Status
New
Announcement Sub Title
DBS AGREES TO ACQUIRE ANZ'S WEALTH MANAGEMENT AND RETAIL BANKING BUSINESS IN FIVE MARKETS
Announcement Reference
SG161031OTHRHGA9
Submitted By (Co./ Ind. Name)
GOH PENG FONG
Designation
GROUP SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Bank Ltd has agreed to acquire the wealth management and retail banking business of the Australia and New Zealand Banking Group (ANZ) in Singapore, Hong Kong, China, Taiwan and Indonesia. Subject to obtaining regulatory approvals, the transaction is anticipated to be completed progressively from the second quarter of 2017 onwards, and the target is for full completion in all five markets by early 2018.

Please see attached for more details.

Attachments

Acquisition_of_ANZ_franchise_Press_release.pdf
Acquisition_of_ANZ_franchise_Presentation.pdf
Total size =581K