Streetbeat News

DBSDF

DBS Group Holdings Ltd

https://www.dbs.com.sg/index/default.page

CEO

Piyush Gupta

Industry

Commercial Banking

Open

31.00

Mkt cap

93B

Volume

200

High

32.69

P/E Ratio

11.39

52-wk high

33.74

Low

30.67

Div yield

0.04

52-wk low

22.82

HSBC Holdings PLC is set to acquire Citigroup Inc's China consumer wealth management business, which manages over $3 billion in assets. The deal will likely expand HSBC's presence in China's $3.94 trillion fund management market. Citigroup is also reportedly aiming to sell some of its portfolios for winding down its China retail banking business and exit consumer franchises across Asia, Europe, the Middle East, Africa, and Mexico.

Portfolio Pulse from Lekha Gupta

September 28, 2023 | 12:33 pm

Citigroup Inc is reportedly considering splitting its largest division, Institutional Clients Group (ICG), into three primary business segments. The move is expected to give CEO Jane Fraser more direct control over operations. ICG, which generated revenue of around $10.4 billion in Q2 FY23, offers financial services to institutional investors and governments. The transaction will be the bank's most significant shake-up of its corporate structure in nearly 15 years. The bank also recently closed the sale of its Taiwan consumer businesses to DBS Group Holdings Ltd.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 9:38 am

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