DBS first acquired a 13% stake in Shenzhen Rural Commercial Bank for $1.1 billion in October 2021 as part of a long-standing strategy to grow in large emerging markets. Subsequently, the stake was increased to 16.69% in January 2024 and to 19.4% in November the same year.
DBS Group Holding (DBS) on Feb 9 announced that it has increased its stake in Shenzhen Rural Commercial Bank to 19.9% from 19.4% on Nov 19, 2025.
Under the transaction, DBS acquired 52.2 million shares in the Chinese bank for a total consideration of RMB310 million ($58 million) or RMB5.94 per share. This is equivalent to 1.05 times of Shenzhen Rural Commercial Bank’s book value per share as at June 30, 2025.
