Singapore's DBS agrees to buy SocGen's Asian private bank: Sources

Singapore's DBS agrees to buy SocGen's Asian private bank: Sources

HONG KONG - Singapore's DBS Group Holdings Ltd has agreed to buy French bank Societe Generale's (SocGen) Asian private bank for about US$250 million (S$316 million), people familiar with the matter told Reuters on Friday.

A deal is expected to be announced as early as Monday, said the sources, who declined to be identified as the information is not public.

DBS and SocGen declined to comment.

 

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