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DBS sees India bank takeover turning a profit in 12-24 months
LVB amalgamated with DBS Bank India to accelerate group's digital banking push in South India: DBS chief
Published Wed, Feb 10, 2021 · 09:50 PM
Singapore
DBS' recent takeover of India's Lakshmi Vilas Bank (LVB) is expected to turn a profit in the next 12 to 24 months, now that asset quality concerns have been accounted for in the fourth quarter of 2020.
The cash-starved LVB was amalgamated with DBS Bank India last November to accelerate the group's digital banking push in South India, said DBS chief Piyush Gupta at a media briefing on Wednesday.
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