Singapore’s DBS Bank buys 13% in Shenzhen Rural Commercial Bank for $814m

Singapore’s DBS Bank buys 13% in Shenzhen Rural Commercial Bank for $814m

DBS Bank

DBS Bank Ltd, a wholly-owned subsidiary of Singapore’s DBS Group Holdings, has agreed to pick up a 13% stake in China’s Shenzhen Rural Commercial Bank Corporation Limited (SZRCB) for 5.29 billion yuan ($814 million).