DBS buys rest of HK credit card company for HK$546m

DBS Group Holdings has acquired the rest of a Hong Kong credit card company for HK$546 million (S$88 million).

In a filing to the Singapore Exchange, the bank, via wholly owned DBS Hong Kong, said it bought 50 per cent of the issued shares in Hutchison DBS Card Limited from Whampoa Ltd.

Before the deal, done on "willing buyer, willing seller basis", each owned 50 per cent of the company.