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Shenzhen Rural Commercial Bank
Zest
DBS ups stake in Shenzhen Rural Commercial Bank Corporation to 16.69%
The stake increase from its initial 13% was acquired for a consideration of $376 million.
December 29, 2023
Zest
DBS weighs possibility of enlarging its stake in Shenzhen Bank
The Singapore-based bank bought a 13% stake in the Chinese bank for $1.1 billion in 2021.
February 16, 2023
Results
DBS posts record quarterly net profit of $2.01 bil in 1Q21; maintains dividend of 18 cents per share
It has been “an extraordinary quarter… as we fired on all cylinders,” says DBS CEO Piyush Gupta.
April 30, 2021
Broker's Calls
Analysts positive on DBS's acquisition of stake in Shenzhen bank
Both CGS-CIMB and RHB have maintained "buy" call on the bank with the same target price of $28.35 and $33 respectively.
April 21, 2021
Zest
DBS to acquire 13% stake in Shenzhen Rural Commercial Bank for RMB5.29 bil
Upon the completion of the investment, DBS will become the Shenzhen bank’s largest shareholder.
April 20, 2021