【DBS D05 交流专区】星展 DBS GROUP HOLDINGS LTD

Yangyang1982

刚收到股息回购股票。。定价17.4x

icy97

若只能入股40% 星展或重考虑购Danamon

财经 天下  2013-06-13 11:56
（新加坡12日讯）星展集团控股主席指出，若印尼只允许星展收购印尼金融银行（PT Bank DanamonIndonesia）40%的股份，将重新考虑收购计划。

在印尼央行批准星展的收购计划但把星展持股上限定为40%之后，星展集团本月稍早延长从新加坡国有投资机构淡马锡控股收购67.4%的印尼金融银行股权的协议。

《商业时报》援引星展集团主席佘林发的话说：“若只能收购40%股份，经济性将会很成问题，因为无法与我们现有的印尼业务整合。需要重新评估这起交易的经济性。”[南洋网财经]


DBS may review Danamon deal if allowed only a 40% stake
http://www.theedgesingapore.com/the-daily-edge/business/44273-dbs-may-review-danamon-deal-if-allowed-only-a-40-stake-.html

Wed, 12 Jun 10:08  
DBS Group Holdings may review its planned acquisition of a stake in Indonesia’s PT Bank Danamon if the Singapore lender is allowed to buy only a 40% share, DBS’s chairman told Singapore’s Business Times newspaper.

Earlier this month, DBS extended its agreement with Temasek Holdings to purchase the Singapore state investor’s controlling 67.4% stake in Danamon for two more months, after the Indonesian central bank approved the deal but capped DBS’s share at 40%.

“At 40%, the economics will be challenging as it will not allow us to integrate with our existing business in Indonesia,” DBS Chairman Peter Seah was quoted as saying. “It will require a review of the economics of the transaction.”

DBS previously proposed a US$7.2 billion ($9 billion) takeover bid for all of Danamon, Indonesia’s sixth-largest bank, in 2012.

icy97

DBS ends $8.3 bil Danamon bid on failing to win control
http://www.theedgesingapore.com/the-daily-edge/business/44954-dbs-ends-83-bil-danamon-bid-on-failing-to-win-control-update.html

Wed, 31 Jul 20:50
DBS Group Holdings ended a bid to buy PT Bank Danamon Indonesia for US$6.5 billion ($8.3 billion) in what would have been Southeast Asia’s largest banking takeover after failing to win regulatory approval for a majority stake.

The agreement to acquire control from Temasek Holdings Pte’s Fullerton Financial Holdings unit will lapse after tomorrow’s deadline, Singapore-based DBS said in a statement today. Southeast Asia’s largest bank had offered on April 2, 2012, to buy 99% of Danamon — including a 67% stake from Fullerton — for 66.4 trillion rupiah ($8.3 billion).

The deal’s failure poses a setback to DBS Chief Executive Officer Piyush Gupta’s ambitions to expand in faster-growing countries and reduce reliance on Singapore, Southeast Asia’s least-profitable loan market. The acquisition was hobbled after Indonesia implemented new bank ownership rules a year ago that limited DBS to a 40% stake.

“Indonesia was supposed to give them a leg up in terms of growth,” said Julian Chua, a Kuala Lumpur-based analyst at Nomura Advisory Services Sdn who recommends investors buy DBS shares. “There may not be that many willing sellers of such a sizable bank.”

Danamon CEO Henry Ho didn’t respond to two e-mails seeking comment, while external affairs spokesman Ferdi Ihdianto said the lender would issue a statement later today.

‘FINANCIAL DISCIPLINE’
Shares of Danamon rose 4.5% to end trading in Jakarta today at 5,200 rupiah, before DBS said the deal would be allowed to lapse. The proposed offer price, at 7,000 rupiah-a- share in cash and stock, would have been a 35% premium over the stock’s closing price.

“We are positive about Indonesia’s long term potential and will continue to grow our DBS Indonesia franchise, while remaining open to opportunities as they arise,” Gupta said in the statement. “DBS is committed to financial discipline and shareholder value creation.”

DBS shares fell 0.5% to $16.70 in Singapore trading that ended before the announcement. The stock has gained 21% since the day it made the original offer, after dropping as low as $12.95 in June 2012, as investors bet that the deal would fail or the price would drop because of regulatory problems.

Indonesia has been using the proposed transaction to negotiate for more access for its banks -- led by PT Bank Mandiri, PT Bank Rakyat Indonesia and PT Bank Negara Indonesia - - in Singapore. Bank Indonesia introduced new rules on July 13, 2012, limiting ownership in local banks by rivals to 40%.

PUNITIVE COST
Southeast Asia’s biggest bank is reluctant to buy minority stakes, Gupta had said on May 2 at a press briefing in Singapore. International bank-capital rules known as Basel III that require lenders to deduct the value of minority investments from Tier 1 capital make such deals “quite punitive,” DBS Chief Financial Officer Chng Sok Hui said the same day.

The lender had sought a controlling stake in Danamon as part of a strategy to expand in markets outside Singapore and Hong Kong, which jointly accounted for 83% of DBS’s profit in 2012. Singapore is the least profitable lending market in Southeast Asia, with average net interest margins of 1.82%, according to data compiled by Bloomberg based on the latest filings. In Hong Kong, the measure is 1.66%.

MOST PROFITABLE
Indonesian lenders are the most profitable in the world’s 20 biggest economies, according to data compiled by Bloomberg. Banks with a market value of at least US$5 billion boast an average net interest margin of 6.6%, the data show.

DBS will probably report tomorrow that second-quarter profit climbed to $883 million, according to the average of seven analysts’ estimates compiled by Bloomberg, from $810 million a year earlier.

“Bank Indonesia understands DBS’s decision on canceling the deal with Danamon as they can’t comply to BI’s rule,” Peter Jacobs, director of communications at the central bank, said by mobile phone text message today.

DBS had proposed acquiring the 67.4% stake in Danamon held by Fullerton Financial by allowing it to swap its Danamon holdings into DBS shares. The exchange was to be at a price of 7,000 rupiah for each Danamon share and called for DBS to issue 439 million new shares to the Temasek unit at $14.07 apiece, increasing the stake held in DBS by Singapore’s state- owned investment company to 40.4% from 29.5%.

Following that transaction, DBS would make a tender offer for any remaining Danamon stock for 7,000 rupiah a share, taking its holding in the Indonesian bank to 99%.

Fullerton Financial “will continue to be invested in Danamon,” the Temasek unit said in a statement today. “FFH remains committed to working with all stakeholders in Indonesia to grow and strengthen Danamon.”

icy97

星展银行无法获批准　放弃收购印尼金融银行

二零一三年八月一日 晚上七时
（新加坡1日电）东南亚最大银行星展银行周三宣布，由于在长达一年多的努力之后还是无法获得监管批准以购入控股股权，将放弃收购以资产排序的印度尼西亚第六大银行印尼金融银行（PT Bank Danamon）的计划，这笔交易的价值之前被预估为70亿美元。

星展银行在2012年4月宣布与富登金融控股公司达成协议，将购入后者持有的印尼金融银行67.4%的股权。星展银行原计划在这次交易之后再对剩余尚未持有的印尼金融银行股权提出要约收购。不过印尼中央银行在2013年5月宣布，将只允许星展银行购买印尼金融银行40%的股权，并且只有在新加坡表现出“互惠互利”的态度，允许印度尼西亚的银行在新加坡开设更多分支机构之后，才会同意星展银行对印尼金融银行实施整体收购。

原计划中的收购交易本应该是印度尼西亚历史上最大规模的交易，也有望提升星展银行专注大众消费市场，成为有跨多个市场多元化收入来源的亚洲领先银行的野心。星展银行曾指出，正在寻求大中华区，南亚和东南亚市场的增长。

星展银行和富登金融在2013年6月宣布，同意将双方的交易期限延长至8月1日。而星展银行在周三正式确认，这笔交易将会结束；富登金融控股也表示，两者之间的协议将会到期，公司将继续致力于在印尼金融银行的投资。

富登金融控股是新加坡主权投资实体淡马锡控股的子公司，后者持有星展银行29%的股权。[光华日报财经]

icy97

星展集团的2Q13盈利提高10%
http://www.sharesinv.com/zh/articles/40688/

2013年08月01日
星展集团(DBS Group Holdings)在截至今年6月底的1H13录得盈利提高5.4%至18亿元新高，由于贷款增多及非利息收入广泛增长令总收入提高12.8%至46亿元。2Q13的净利及总收入分别增加9.5%至8亿8,700万元和18.7%至23亿元。2Q13的净利比路透社调查结果中的8亿6,200万元平均预测来得高。另外，公司的资产负债状况依旧强稳，因不良贷款比率依旧为偏低的1.2%，与最近数个季度相若。贷款与存款比维持在90%，而资本充足率也依旧远高于当局的要求。与此同时，公司宣布放弃争取收购印尼金融银行(PT Bank Danamon Indonesia Tbk)的控股股权，但公司将继续致力于在印尼拓展业务。

启示：虽然公司在最近几年因双位数百分比的贷款增长及收费收入强劲而表现优异，但分析师指出，盈利表现可能会放缓，由于中国的增长疲弱，并影响公司的第二大市场香港，加上新加坡政府实施一连串措施来收紧放贷，以为产业市场降温。

icy97

收购印尼银行搁浅后，星展集团暂无意进行并购
http://www.sharesinv.com/zh/articles/40692/

文： 汤森路透 （译：麦美莹） 2013年08月02日 汤森路透

新加坡的星展集团(DBS Group Holdings)表示，其献议以72亿美元收购印尼金融银行 (PT Bank Danamon Indonesia)的计划搁浅后，公司暂无意进行并购，但它补充，集团将会加强扩大其现有在印尼的业务。

集团有意收购印尼金融银行是因为其总裁高博德(Piyush Gupta)希望把银行的盈利基底扩大，在今年上半年，集团约88%净利是来自新加坡及香港的业务。
东南亚最大银行的收购行动触礁是因为印尼在5月宣布限制当地银行的单一拥有权，从99%减低至40%，除了星展集团外，另一个收购印尼银行的计划也遭搁浅。

熟悉内情的人士告诉路透社，荷兰合作银行(Rabobank)已经终止出售其印尼子公司的计划，因为潜在买家没法取得控制权。

虽然部分投资者却步，但专家表示，这个东南亚大国的增长前景依然会吸引到不少愿意拿少一点控制权的投资者。

可是，星展集团显然不愿意屈就，而高博德强调，虽然计划失败，但这并不代表集团急于把资金转移至其他交易。

高博德在季度业绩发布会上表示：“我真的没有任何冲动去作其他收购，在整个亚洲，要达成一宗交易并不容易。”

“印尼金融银行给予我们一个快速增长的机会，这些机会可遇不可求，但我们的策略基本上是没有很大的改变。”

星展集团在提出献议，直至在7月31日宣布退出，足足等了16个月。它投资了1,000万元(790万美元)在这个行动，目的是从新加坡国家投资公司淡马锡控股(Temasek Holdings)购入印尼第六大银行的控股股权。淡马锡拥有印尼金融银行约67%股权及星展集团的29%股权。

惠誉评级机构表示，对星展集团而言，只购入印尼金融银行的40%股权，在资金运用方面并不划算。在巴塞尔协议III的资金条例下，如果银行购入少过50%股权，它们需要作出的减资相对来说比较高(高于买入大部分股权)。

熟悉东南亚并购交易的Melissa Ng是高伟绅律师事务所(firm Clifford Chance)的伙伴，她说虽然部分投资者对收购印尼金融银行的计划搁浅明显感到失望，但部分投资者认为只购入40%股权也可以接受，让银行可以先步入印尼的大门

她表示：“我们的客户依然认为这项收购拥有潜质，印尼庞大的人口及潜在增长不容忽视，而部分投资者认为潜在回报不可小觑。”

星展集团在印尼拥有39家分行，高博德表示，从印尼业务取得的自然增长需要5年时间才可以与印尼金融银行所提供的贡献媲美。东南亚业务(不包括新加坡及南亚)为集团净利提供6.6%贡献。

中国经济增长放缓
星展集团是东南亚最大银行，它报第二季盈利年比提高10%至8亿8,700万元(6亿9,600万美元)，比预期高，原因是贷款及收费收入强劲增长。

高博德之前曾任职花旗集团，他在2009年加入星展集团，并大大推动集团的表现，让其贷款取得双位数增长，而从资本市场及财富管理而来的收费收入也大幅增加。

可是，星展集团的盈利势头受到中国经济放缓及后者对香港的溢出效应所威胁，而香港是集团的第二大市场。此外，新加坡政府最近收紧与产业借贷相关的条例也可能对集团带来影响。

高博德表示，话虽如此，集团的贸易融资并没有受到任何压力，而香港的业务增长依然强劲。

与本地另外两家银行相比(华侨银行(OCBC)及大华银行(OUB))，星展集团在中国的发展显然是最大。

新加坡产业领域也开始遇到风险，穆迪投资者服务在今个月把新加坡银行系统的前景从稳定调低至负面。

政府推出了新措施来冷却产业市场，包括买家的每月还款额不可以超过每月入息的60%，此举是确保投资者在利率提高后不会束手无策。

icy97

Name of Announcer *	DBS GROUP HOLDINGS LTD
Company Registration No.	199901152M
Announcement submitted on behalf of	DBS GROUP HOLDINGS LTD
Announcement is submitted with respect to *	DBS GROUP HOLDINGS LTD
Announcement is submitted by *	GOH PENG FONG
Designation *	GROUP SECRETARY
Date & Time of Broadcast	07-Aug-2013 17:10:38
Announcement No.	00059

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

Announcement Title *

APPLICATION OF SCRIP DIVIDEND SCHEME TO THE INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 JUNE 2013

Description

Please see attached.

Attachments

Application_of_SDS_to_1H2013_Interim_Dividend.pdf

Dividend Value	Payment Type	Dividend Type	Financial Year End	Dividend Number	Tax Exemption Clause
SGD 0.28 Per 1 Ordinary share	Tax Exempted (1-tier)	Interim	31/12/2013	38	The dividend is paid under the one-tier corporate tax system and is exempted from tax in Singapore.

Record Date *	19/08/2013
Record Time *	17:00
Date Paid/Payable (if applicable)	07/10/2013

Footnotes

For more details, please refer to announcement number 00059 released on 7 August 2013.

icy97

Name of Announcer *	DBS GROUP HOLDINGS LTD
Company Registration No.	199901152M
Announcement submitted on behalf of	DBS GROUP HOLDINGS LTD
Announcement is submitted with respect to *	DBS GROUP HOLDINGS LTD
Announcement is submitted by *	GOH PENG FONG
Designation *	GROUP SECRETARY
Date & Time of Broadcast	20-Aug-2013 17:16:37
Announcement No.	00061

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

Announcement Title *

FINANCIAL YEAR 2013 INTERIM DIVIDEND - ISSUE PRICE OF NEW SHARES FOR SCRIP DIVIDEND

Description

Please see attached.

Attachments

IssuePriceOfNewSharesFor1H2013InterimDividend.pdf

icy97

DBS Bank gets approval to set up branch in Shanghai FTZ
http://www.theedgesingapore.com/the-daily-edge/business/45608-dbs-bank-gets-approval-to-set-up-branch-in-shanghai-ftz.html

Publish date: Mon, 30 Sep 11:02
DBS Bank (China) is one of two foreign banks that have received approval from the China Banking Regulatory Commission Shanghai Bureau to set up a sub-branch in the newly-established China (Shanghai) Pilot Free Trade Zone (FTZ). The other bank is Bank of Communications Co.

Eight other domestic banks joined the two foreign lenders with licenses to operate.

The DBS sub-branch will focus on servicing corporate clients in the FTZ at its first stage, complementing and strengthening the bank's established network in Shanghai.

The zone “is an important milestone in China’s efforts to build an international financial center and to reform and reinvigorate its economy for longer term economic viability,” DBS Bank (China) Chief Executive Officer Neil Ge said in an e-mail release.

icy97

星展集团增聘刚出炉的大学及理工学院毕业生
http://www.sharesinv.com/zh/articles/41860/

2013年10月04日
星展集团(DBS Group Holdings)表示，它将聘请约200名刚出炉的大学及理工学院毕业生，并提升其内部培训计划来栽培员工，以吸引和留住人才。公司的发言人Edna Koh表示，星展银行拟在其六个培训计划下，在今年聘请超过200名毕业生。这些计划将把最近毕业的理工学院和大学毕业生培训成零售银行服务、中小型银行服务及客户服务等领域的新秀。公司透露，被录取的毕业生将有机会快速地发展事业，他们所接受的培训类似一般上银行会每年聘请人数不多的一组高材生，然后栽培他们升上高层的计划。

启示：公司的策略是成为消费及中小型银行服务领域的领头羊，而聘请和栽培新加坡的后起之秀对完成相关目标有利。公司的管理层培训计划及毕业生计划在去年接到超过7,000份申请。

icy97

Stanchart, DBS, HSBC among bidders for SocGen Asia private bank
http://www.theedgesingapore.com/the-daily-edge/business/45689-stanchart-dbs-hsbc-among-bidders-for-socgen-asia-private-bank.html

Publish date: Thu, 3 Oct 13:01
Standard Chartered Plc, DBS Group Holdings and HSBC Plc have submitted first round bids for Societe Generale’s Asian private bank valued at US$600 million ($749 million), people involved in the sale told Reuters.

SocGen, France’s second-largest bank by market capitalisation, is selling the unit as part of wider restructuring to cut costs and boost profits, Reuters previously reported. Its 15-year foothold in Asia makes it an attractive buy, sources said.

Credit Suisse and at least one U.S. financial institution are among 10 firms placing preliminary bids for the unit that manages about US$13 billion worth of assets, said the people, who asked not to be named because the details are not public.

SocGen is the third major global financial institution to seek the sale of its Asian wealth arm in the last five years after Bank of America Corp and ING Groep . Rapid growth in the lower end of the wealth market - serving people with at least US$1 million to invest - favours private banks with wider networks, pressuring smaller players who tend to target only the very rich.

SocGen’s private banking unit is small compared with those of larger competitors in Asia’s wealth management market such as Citigroup Ltd and UBS AG , which each manage US$200 billion in assets.

Some bids will not be more than US$300 million, the people said, showing the gap in price sought by seller and suitors.

The French bank is restructuring its asset-gathering operations after recently combining them with its corporate and investment bank under Head of Corporate and Investment Banking Didier Valet.

Earlier this year, it sold its Japanese private bank to Sumitomo Mitsui Banking Corp for an undisclosed sum.

JPMorgan is advising SocGen, the people said.

Spokespeople for SocGen and JPMorgan declined to comment. Officials at DBS, Credit Suisse, HSBC and Standard Chartered also declined to comment.

icy97

DBS said to advance in bidding for SocGen's Asian Private Bank
http://www.theedgesingapore.com/the-daily-edge/business/45897-dbs-said-to-advance-in-bidding-for-socgens-asian-private-bank.html

Publish date: Fri, 18 Oct 12:42
DBS Group Holdings is among banks that have advanced in bidding for Societe Generale SA’s private banking assets in Asia, said three people with knowledge of the matter.

Societe Generale picked about five suitors to study the unit’s finances after they made initial offers, said one of the people, asking not to be named because the process is confidential. Final bids are expected by the end of November, according to two people, who didn’t identify the other companies. The division oversees about US$13 billion ($16 billion).

DBS could overtake Deutsche Bank AG and Morgan Stanley in Asia-Pacific wealth management by buying the Societe Generale operations, based on figures from Private Banker International. While wealth in Asia has been growing at a faster pace than elsewhere, costs as a proportion of revenues for private banks are higher, studies have shown.

Spokeswomen for DBS and Societe Generale declined to comment.

HSBC Holdings Plc, Standard Chartered Plc and Credit Suisse Group AG were among companies that submitted first-round bids for the Societe Generale unit, Reuters reported this month.

DBS runs Asia’s ninth-largest private bank, with assets under management of US$46 billion at the end of 2012, according to a Private Banker International study published last week. Morgan Stanley oversaw US$58 billion while Deutsche Bank managed US$50 billion, the report showed.

PROFITS PRESSURED
Wealth management firms worldwide expect consolidation to accelerate amid rising pressure on profit margins and increased regulatory and tax scrutiny, PricewaterhouseCoopers LLP said in a June report. Costs as a proportion of revenue at Asia’s private banks are 14 percentage points higher than the global average, according to PwC.

Societe Generale, France’s second-largest bank by market value, has managed money for Asia’s wealthy since 1997 through offices in Singapore and Hong Kong, according to its website. The bank, led by Chief Executive Officer Frederic Oudea, is selling assets to comply with stricter capital rules designed to avoid a repeat of the 2008 global financial crisis.

Wealth among Asia-Pacific millionaires may top North America’s as soon as next year as a resurgent Japanese economy boosts investor returns in the country, a report by Cap Gemini SA and Royal Bank of Canada published Sept. 25 showed.

icy97

DBS Q3 net profit up 1%, beats expectations
Source: Reuters   |   Publish date: Fri, 1 Nov 08:21
http://www.theedgesingapore.com/the-daily-edge/business/46102-dbs-q3-net-profit-up-1-beats-expectations.html

Southeast Asia's biggest lender, DBS Group Holdings, posted a slight rise in quarterly net profit, managing to beat expectations despite a tough quarter for its treasury business.

Singapore-based DBS said it earned $862 million in the three months ended September, more than the $828 million average forecast of six analysts polled by Reuters.

The result compared with $856 million a year earlier, but was the second consecutive quarterly fall in profit excluding one-off items.

"The uncertain market outlook resulted in a paring of treasury activities," DBS said in a statement on Friday.

The bank's income from trading fees was hit by a volatile quarter when global markets tumbled over signals by the US Federal Reserve that it may unwind its massive stimulus
programme.

Singapore banks are also facing an imminent slowdown in housing loans after a series of government measures to cool the city-state's red-hot property market.

CEO Piyush Gupta, whose main focus has been on expanding DBS's existing businesses, recently abandoned a bid to take a controlling stake in PT Bank Danamon Indonesia Tbk on regulatory obstacles.

DBS has made a separate bid to buy the Asian private banking unit of Societe Generale, which could sell for US$300 million to US$600 million, sources have said.

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狮城最赚钱银行 星展第3季净利22亿

财经 天下  2013-11-07 12:02
（新加坡6日讯）星展集团第三季以8亿6200万新元（约22.1亿令吉）净利，成为该季度最赚钱的新加坡银行，其净利按年上升1%。

相比之下，大华银行第三季净利仅年增3.3%至7亿3000万新元（约18.7亿令吉），华侨银行的净利则相对跌滑落59%至7亿5900万新元（约19.4亿令吉）。

此外，第三季的净利息收入依然是由星展集团拔得头筹，达14亿600万新元（约37.4亿令吉）；大华银行和华侨银行的净利息收入则分别达10亿4600万新元（约26.8亿令吉）和9亿7800万新元（约25亿令吉）。

净利息赚幅（NIM）方面，大华银行是三家银行中NIM没有继续下滑的唯一一家银行，维持在1.71%；星展集团NIM从次季的1.62%跌至1.60%，华侨银行则从1.64%降到1.63%。[南洋网财经]

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星展集团撤出菲律宾
2013年11月12日
http://www.sharesinv.com/zh/articles/42625/

星展集团(DBS Group Holdings)的子公司星展银行(DBS Bank)将以8亿5,000万元现金把其在菲律宾群岛银行(Bank of the Philippines Islands)的9.9%股权脱售给新加坡政府投资公司(GIC)及Ayala Corporation(AC)。星展银行是通过与AC所组合资持有菲律宾群岛银行的股权，因此它其实是将脱售在该合资公司的股权。脱售价比菲律宾群岛银行在这个消息公布之前一天(11月8日)的闭市价低出10.5%。脱售交易将分两次在4Q13和1Q14完成。星展银行将从交易中取得4亿4,700万元的净收益。

启示：星展银行于去年10月已经脱售了在菲律宾群岛银行的部份股权，撤出菲律宾市场与其把焦点放在新加坡、香港、中国、台湾、印度及印尼等核心市场上的策略相符。


DBS sells remaining Philippine bank stake for $850 mil
Source: Bloomberg   |   Publish date: Tue, 12 Nov 16:19  
http://www.theedgesingapore.com/the-daily-edge/business/46268-dbs-sells-remaining-philippine-bank-stake-for-850-mil.html

DBS Group Holdings, Southeast Asia’s largest lender, agreed to sell its remaining stake in Bank of the Philippine Islands for $850 million to focus on key markets including Singapore and Hong Kong.

The transaction, to be completed in two phases ending in March, will generate a gain of about $447 million over the carrying value, DBS said in a statement yesterday.

The 9.9% stake will be acquired by GIC Pte, Singapore’s sovereign wealth fund, and Ayala Corp., the Philippine company that is already BPI’s biggest stakeholder. The divestment is DBS’s largest to date, data compiled by Bloomberg show.

DBS began exiting its 14-year investment in BPI, the largest lender by market value in the Philippines, in October 2012 as Chief Executive Officer Piyush Gupta sought to bolster capital buffers. Growth in the Philippine economy, which has expanded by more than 7% for four quarters, may slow in the remainder of this year after Typhoon Haiyan devastated some provinces.

“In the last two years, the Philippines became a very hot market,” Kenneth Ng, a Singapore-based analyst at CIMB-GK Securities Pte, said by telephone. “One of the reasons why they sold was that the rising Philippine market gave them the opportunity to do so.”

The benchmark Philippine Stock Exchange Index has rallied 46% in the past two years as improved economic propects helped the nation win its first investment-grade debt ratings.

‘Growth Driver’
Shares of BPI rose 0.1% to 90.60 pesos ($2.60) as of 2:21 p.m. Manila time, halting three days of declines. The stock has gained 6% in the past year. Ayala fell 2.8% to 560 pesos, while DBS gained 0.2% to $16.97.

GIC will buy 5.6% of the Philippine bank and Ayala will purchase 4.3%, lifting its stake to 48.3%, Ayala said in a statement today.

“This acquisition is both a value and earnings accretive investment for Ayala,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala said in the statement. “BPI has been a significant growth driver for Ayala over the years and we believe its earnings growth momentum will continue in step with the expansion of the Philippine economy.”

The nation’s gross domestic product rose 7.5% in the second quarter from a year earlier, matching China’s pace and higher than the government target at the time of 6% to 7% for the year. GDP growth this year may be as much as half a percentage point lower than a previous estimate of 7.3% to 7.5% following Typhoon Haiyan, according to Jun Trinidad, a Manila-based economist at Citigroup Inc.

State Investments
The acquisition adds to GIC’s holdings of financial assets, which, including real estate, make up the biggest share of its listed holdings, according to data compiled by Bloomberg. The sovereign wealth fund owns a 3.7% stake in Citigroup Inc., valued at US$5.6 billion ($7 billion).

GIC also owns 6.4% of UBS AG, an investment worth about US$4.47 billion. The Singapore fund has a 0.4% stake in HSBC Holdings Plc and a 0.4% stake in Barclays Plc. DBS’s sale of its BPI shares follows its divestment in October last year of a 10.4% holding in the Philippine lender to Ayala for $757.3 million. The bank booked a gain of $450 million from that sale in the fourth quarter of 2012, according to a statement on Feb 6, when DBS reported its fourth-quarter earnings.

Main Markets
The Singaporean lender held 20.3% of the Philippine bank prior to the 2012 sale. It acquired a 19.7% stake for about $1.2 billion from “several investors” in 1999, a purchase that followed the 1997 Asian financial crisis. The Philippine benchmark stock index fell 41% that year.

DBS, which has been trying to increase the share of its earnings from overseas markets, will focus on its core markets of Singapore, Hong Kong, China, Taiwan, India and Indonesia, it said in yesterday’s statement.

Standard Chartered Plc, the UK bank that makes three-quarters of its earnings in Asia, will review its business to cut back or withdraw from less-profitable markets, Chief Executive Officer Peter Sands said in London yesterday.

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法兴银行售亚洲业务 传3机构呈最后竞标价

财经 天下  2013-11-28 09:21
（新加坡/香港27日讯）消息透露，星展集团（DBS）、荷兰银行（ABN AMRO）和瑞士信贷（Credit Suisse）已针对法国兴业银行（Societe Generale）的亚洲私人银行业务，提交最后一轮的出价竞标。

知情人士披露，这项脱售计划的最终定价将是约4亿美元（约12.9亿令吉）；根据早前的初步估价，法兴银行估计会以3亿至6亿美元（约9.7亿至19.4亿令吉），脱售其亚洲私人银行业务。

据早前报道，法兴从提出初步出价的十多家金融机构中，选出了包括星展集团在内的五家来进行最后竞标；如今，知情人士的消息指这其中的三家已提出最后一轮竞价，另两家则不确定是否已经提交。

星展集团料得标

不过，法兴银行、星展集团、荷兰银行和瑞士信贷受询时都表示不愿置评。

法兴银行已在亚洲深耕长达15年，其亚洲私人银行业务的总管理资产约130亿美元（约419.1亿令吉），但这依然低于业内认为要取得规模经济所需要的200亿美元。

多数分析员相信星展集团最有望从这项竞购中胜出；其中，瑞穗证券分析员指出，星展非常想要扩大私人银行的规模，它正在和华侨银行（OCBC）竞争。[南洋网财经]

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DBS in advanced talks to buy SocGen Asia private bank
Source: Reuters   |   Publish date: Wed, 22 Jan 14:01
http://www.theedgesingapore.com/the-daily-edge/business/47016-dbs-in-advanced-talks-to-buy-socgen-asia-private-bank.html

DBS Group Holdings , Southeast Asia’s biggest lender, is in advanced talks to buy Societe Generale’s Asian private bank which would help boost its private banking assets by almost a third, sources said.

A successful deal would make it the third major transaction in Asia’s competitive private banking landscape since the global financial crisis, as smaller players struggle to generate enough revenue to support expensive bankers and rising regulatory costs.

“The talks are advanced,” said a source with direct knowledge of the matter.

A DBS spokeswoman reiterated the bank’s stance that boosting wealth management is one of its key strategic priorities but declined to comment on the possibility of talks.

A SocGen spokeswoman in Singapore declined to comment.

DBS was among five suitors short-listed in the final round of bids. Other suitors included ABN AMRO and Credit Suisse, sources earlier told Reuters.
DBS managed US$46 billion ($59 billion) in private banking assets at the end of 2012, which could rise by another US$15 billion if it takes over SocGen’s Asia unit.

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估值增15%至133亿 星展东协最有价值银行品牌

财经 天下  2014-02-06 09:47
（伦敦5日讯）星展银行获英国权威金融杂志《银行家》和品牌评估机构BrandFinance选为新加坡和东协最有价值的银行品牌。

《银行家》与BrandFinance昨天发布的银行业500调查报告，把星展的品牌估值为40亿1000万美元（约133亿2523万令吉），比去年增加15.3%，在亚洲跻身10大银行品牌，在全球的排名也从第58位升至55位。

新加坡三家银行的品牌估值总计85亿美元（约282.5亿令吉），比去年增长17%。【南洋网财经】

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坏账拨备增加 星展末季净利跌20%

财经 天下  2014-02-15 12:16
（新加坡14日讯）东南亚第一大银行星展集团（DBS）第四季度利润降幅高于分析师预期，出售菲律宾群岛银行股权获利低于上年同期。

根据星展集团在新加坡证交所发布的公告，在截至12月31日的第四季度，该行净利同比下降20%，从上年同期的12.1亿新元（约31.74亿令吉），下降至9.73亿新元（约25.52亿令吉）。

这数据低于彭博汇总5位分析员的10亿新元（约26.23亿令吉）平均估值。

此外，星展集团全年净利下跌4%，至36.72亿新元（约96.32亿令吉）。

整体表现逊色，主要是坏账的拨备金增加。

若不包括一次过的进账与支出，星展集团末季净利增长6%，至8.02亿新元（约21.04亿令吉）；全年则攀升4%，达到35.01亿新元（约91.84亿令吉）。

全年派发更高股息

截至去年杪，集团资本充足比率为16.3%，一级资本充足比率为13.7%。

集团建议每股派发0.30新元（约0.787令吉）年终股息，比2012年的年终股息高出0.02新元，全年派发的股息也因此增加至0.58新元（约1.521令吉）。

打房影响银行贷款

由于市场竞争提高资金成本，新加坡银行业的存贷息差降至东南亚最低水平，第四季度经济萎缩也抑制了企业的信贷需求。

今年，随着新加坡政府实施房地产调控措施，以降低住房的销量，促使房价降温。

新加坡银行业的抵押贷款发放量可能也将受到影响。

S&P Capital IQ驻吉隆坡分析员西蒂表示：“对于新加坡银行业在2014年的形势，我没有看到多少有利因素。

新加坡经济活动放缓，从而将影响推动去年放贷量上升的贸易融资，所以她对房地产业也不乐观。

星展：房价年内看跌10%

星展集团总执行长高博德预计，今年的房产价格将出现10%至15%的调整。

但是，他认为这并不会对集团的贷款素质构成压力。

他在业绩发布会上说，高档房地产的价格可能下调多达15%，而较低档次的房价则可能下调10%。

不过，他指目前房价已稳定，如果情况持续，政府可能会放松此前制定的部分收紧措施，如此一来，房价的调整将更小。

他并不担心房价的调整会导致集团的贷款素质恶化，因为根据银行的压力测试，该行可以承受多达30%的房价调整。【南洋网财经】


DBS 4Q profit drops 20% on lower one-time gains
Source: Bloomberg   |   Publish date: Fri, 14 Feb 08:49  
http://www.theedgesingapore.com/the-daily-edge/business/47259-dbs-4q-profit-drops-20-on-lower-one-time-gains.html

DBS Group Holdings, Southeast Asia’s largest bank, posted a bigger drop in quarterly profit than analysts had estimated as its gains from selling a stake in Bank of the Philippine Islands were lower than a year earlier.

Net income fell 20% to $973 million for the quarter ended Dec. 31, from $1.21 billion a year earlier, a statement to the Singapore stock exchange showed. That missed the $1 billion average of five estimates compiled by Bloomberg. Excluding one-time items, profit increased 6% to $802 million.

Singapore banks are grappling with Southeast Asia’s slimmest lending margins as competition for deposits boosts the cost of funds, while an economic contraction in the fourth quarter saps demand for credit from companies. This year, the banks’ mortgage lending may also be crimped as Singapore’s property-market curbs help curtail home sales and cool prices.

“I don’t see too many positive factors for Singapore banks in 2014,” Siti Rudziah Salikin, a Kuala Lumpur-based analyst at S&P Capital IQ, said before the report. “There is a slowdown in economic activity, which would affect trade financing that was the volume driver last year, and we’re not that bullish on the property sector.”

Fourth-quarter home prices in Singapore slid for the first time in almost two years, trimming annual gains to the smallest since 2008 as government restrictions cooled prices in Asia’s second-most expensive housing market. Mortgage lending at the three Singapore banks accounted for 24% of their $583.7 billion in total loans at the end of the September, according to the banks’ financial statements.

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星展7.2 亿购法国兴业亚洲私银业务

财经 天下  2014-03-18 12:04
（新加坡17日讯）东南亚最大银行星展集团（DBS）同意以2.2亿美元（约7.2亿令吉）买下法国兴业银行（Societe Generale SA）亚洲私人银行事业，致力打造区域财富管理事业。

星展周一在文告中指出，本交易包括了兴业银行信托事业的限定部分。

根据文告，这占兴业亚洲私人银行管理资产126亿美元（约413亿令吉）约1.75%。

星展指出，本交易将带动星展成为亚洲领先财富管理银行的目标，增加旗下管理的高净值资产超过20%。

星展集团将以现金挹注交易，预期将不会对资本或获利造成冲击。【南洋网财经】


DBS agrees to buy SocGen's Asian private bank: Reuters
Source: Reuters   |   Publish date: Sun, 16 Mar 22:55  
http://www.theedgesingapore.com/the-daily-edge/business/47605-singapores-dbs-agrees-to-buy-socgens-asian-private-bank-reuters.html

Singapore’s DBS Group Holdings has agreed to buy Societe Generale’s Asian private bank for about US$250 million ($316 million), with an announcement expected as early as Monday, sources familiar with the matter told Reuters.

The deal with the French bank would help DBS -- Southeast Asia’s biggest lender -- to boost its private banking assets by almost a third to about US$60 billion.

It would be the third major deal in Asia's competitive private banking landscape since the global financial crisis, with smaller players retreating as they struggle to generate enough revenue to support expensive bankers and rising regulatory costs.
 DBS and SocGen declined to comment on Friday.

Reuters reported in January that DBS was in advanced talks with SocGen for a deal that would be DBS Chief Executive Piyush Gupta’s first since Indonesian regulators blocked his planned US$7.2 billion purchase of PT Bank Danamon last year.

Former Citigroup banker Gupta took the helm of DBS in late 2009. Since then he has turned DBS from a laggard to an outperformer, helped by double-digit loan growth and strong fee income from capital markets and wealth management. The acquisition would turn DBS to into Asia’s sixth or seventh-largest private bank in an industry dominated by UBS and Citigroup.

Economic growth has led to a surge in Asian millionaires and billionaires. Their combined wealth, at US$6.6 trillion this year, is expected to overtake that of their European counterparts in 2017 and US peers in 2024, according to a Wealth-X and UBS World Ultra Wealth Report.

But profit margins are thin for smaller private banks, especially those whose revenue-generating asset base is less than US$20 billion.