General Announcement::DBS Bank, Postal Savings Bank of China agree to set up consumer finance company

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
15-Jan-2015 08:00:52
Status
New
Announcement Sub Title
DBS Bank, Postal Savings Bank of China agree to set up consumer finance company
Announcement Reference
SG150115OTHRCK90
Submitted By (Co./ Ind. Name)
GOH PENG FONG
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Group Holdings Ltd wishes to announce that its wholly-owned subsidiary, DBS Bank Ltd, has agreed with Postal Savings Bank of China ("PSBC") and 5 other Chinese corporates to set up China Post Consumer Finance Company Limited ("CPCFC") in China. DBS Bank Ltd will be investing RMB 120 million (representing 12% of CPCFC's registered capital), becoming the second-largest shareholder and only foreign shareholder in CPCFC. PSBC, as the major sponsor, will be contributing 61.5% of the registered capital. Please refer to the attached announcement for more information.

Attachments

PSBC_JV_Announcement.pdf
Total size =29K